Fiserv Introduces Mobile Money FastTrack to Simplify Delivery of Mobile Banking Services

Fiserv, Inc. (Brookfield, Wis.) introduced Mobile Money FastTrack, a mobile banking solution that can be rapidly deployed by financial institutions, according to the vendor. Mobile Money FastTrack, a streamlined version of Fiserv's flagship Mobile Money solution, delivers mobile banking features within an affordably packaged solution that can be enhanced as the mobile channel matures.

Mobile Money FastTrack can provide what Fiserv calls "triple play" technology that enables consumers to access their accounts using any of the three primary mobile access modes: mobile browser, SMS (text messaging) or a downloaded application. The solution combines banking and payments capabilities, and includes functions such as balance inquiries, transaction history, account transfers, bill payments and one and two-way account alerts. Informational services such as an ATM and branch locator are also included.

Available in an in-house or hosted version, Mobile Money FastTrack is a licensed solution targeted toward mid- to large-sized financial institutions. The solution is pre-integrated into select Fiserv banking products, and mobile browser and SMS-based mobile banking functionalities can be implemented within 90 days for many financial institutions. Mobile Money FastTrack features around-the-clock deployment support and utilizes security best practices such as data encryption, along with additional risk management safeguards. It also offers both online and offline enrollment capabilities.

Rather than simply duplicate online banking capabilities, Mobile Money FastTrack is designed to address the specific needs of mobile banking users via features such as two-way account alerts. Additionally, the exclusive RenderRight technology utilized by Mobile Money FastTrack automatically customizes the user interface for the consumer's mobile device, enabling the financial institution to reach any consumer, on any network, on any device. The available downloaded application technology also supports mobile banking on devices such as BlackBerry smartphones and the Apple iPhone. Mobile Money FastTrack from Fiserv incorporates technology from Atlanta-based M-Com Inc.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio