Mobile Financial Services for Android

As mobile devices continue to get more sophisticated, financial institutions (FIs) and carriers have the opportunity to enhance customer loyalty and enrich customer experience by delivering innovative applications, such as mobile banking. The Android-compatible application developed by MMV is such an application. It allows FIs to deploy mobile banking applications quickly with a platform that allows end users to use their mobile device to pay, track and manage finances – and take advantage of vendor rewards programs created specifically for wireless users.

Using their Android-enabled mobile device, end users will be able to easily download the financial application that will enable them to transfer money, check their accounts, get branch information, and carry out a Person-to-Person (P2P) transfer. Users will also have access to a stock monitoring feature that allows for real-time trading, portfolio management, and real-time market information. Other features include tracking receipts and expenses and a variety of payment functions.

“We are working closely with our financial institution and mobile carrier customers to deliver a secure, customizable product that will get to market quickly – and help transform the customer’s experience,” said Steve Kietz, CEO of Mobile Money Ventures, and executive vice president of Growth Ventures and Innovation for Citi’s Global Consumer Group. ”Mobile banking will revolutionize the industry in the next few years much the way ATM machines did in the 1980s. By capturing the power of Google’s Android software, our mobile banking platform will set a high standard for this emerging use of wireless technology.”

MMV’s Android-compatible solution features:

• Banking: Provides money transfer, account balance inquiries, location of local branches, and P2P transfer using a mobile phone number instead of the account number.
• Account management: Provides support while users are on the move. Compared to online banking services, users can actively monitor their financial status without being tied to a computer terminal.
• Payment: A variety of payment functions are provided to users including card payment, NFC payment, remote payment and mobile wallet (m-wallet).
• Stock monitoring: Provides real-time stock trading functionalities, portfolio management and real-time market information via mobile devices.
• Track deals and rewards: A two-fold feature: on one side, customers can track receipts and expenses; on the other is a mobile phone-based couponing and reward program.