mFoundry Launches New Mobile Banking Platform

Mobile banking and payments provider mFoundry announced the release of a new mobile banking platform it says will offer banks new ways to capitalize on the continued growth of mobile banking services.

mFoundry’s Fin.X product enables financial institutions financial institutions to deliver mobile banking services through an "advanced extensible architecture," said the company. mFoundry also announced a service provider network for Fin.X of 30 companies, including FIS, Diebold, Dwolla, Blackhawk Network and Micronotes.

According to the San Francisco-based company, Fin.X offers mobile financial services, including remote deposit capture, P2P money transfers, account funding, mortgage rate checks, auto insurance quotes, account opening, gift card issuance, merchant-funded offers, and retail bar-code scanning, among other features.   mFoundry estimates that its new platform can grow per-user revenue up to 40 percent through a combination of increased revenue and cost savings.

The company also announced a partnership with Mosinee, Wis.-based Wausau Financial Systems, integrating Wausau's Deposit 24/7 functionality into Fin.X to offer users mobile RDC.

mFoundry's unveiled the new product at the BAI Retail Delievry conference in Washington, D.C.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio