mFoundry has announced that CO-OP Financial Services has selected mFoundry’s financial services platform to deliver mobile banking offerings to credit unions. The service will allow credit union members to verify balances, view transaction history, transfer funds among their accounts, and more using their mobile phones.
CO-OP Financial Services is the nation’s largest credit union service organization. With 3,000 credit union members, 28,000 surcharge-free ATMs, 3,500 shared branch locations, over 120 million monthly transactions and 26 million cardholders, CO-OP Financial Services is the leading credit union EFT, shared branching network, and processor in the U.S. financial services industry.
Requiring minimal set-up, the mFoundry platform will integrate into CO-OP Shared Branching’s Next Generation Network (NGN) switch to provide mobile banking to members of all credit unions participating in its network.
“mFoundry offers security, flexibility and the ability to quickly scale to meet the demands of our credit union members in a cost effective manner,” said Stan Hollen, President/CEO of CO-OP Financial Services. "The mFoundry platform is superior to an EFT based solution since it will utilize the expanded transaction set available only through our NGN switch.”
“CO-OP Financial Services continuously strives to bring its credit union members leading products and services,” said Drew Sievers, chief executive officer and cofounder of mFoundry. “As the nation’s largest credit union service organization, CO-OP Financial Services will further extend mFoundry’s reach into the important credit union market.”