Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
mFoundry Provides Mobile Banking Solution for Washington Trust Bank
mFoundry, a provider of secure mobile banking and payment solutions, has launched a fully-integrated multi-mode mobile banking solution for Washington Trust Bank, the oldest and largest privately-owned commercial bank in the Pacific Northwest. Washington Trust customers now have access to a mobile banking solution that includes text, mobile web and mobile applications.
“We are pleased to provide our customers with the greatest range of options for their mobile banking needs,” said Jim Brockett, CIO of Washington Trust Bank. “As we set our mobile strategy, our primary goal was to offer a mobile solution that served our customers regardless of the phone they have, while still providing deep functionality. Of all the options available to us, mFoundry’s solution delivered best on both fronts.”
“Washington Trust Bank is a perfect example of our ability to help banks of any size quickly develop and deploy multi-mode mobile banking solutions,” said Drew Sievers, Co-Founder and CEO of mFoundry. “With more than 250 financial institutions running our software, including three of the top five banks in the country, we have a unique level of experience helping banks and credit unions of all sizes and scale launch successful mobile banking initiatives.”
The WTB Mobile application is available on iPhone, iPod Touch, Android, and many RIM BlackBerry devices, including touch-enabled versions. Using WTB Mobile, users can check balances, pay bills, make transfers, and find WTB branches or ATM locations.
Customers can also use Washington Trust Bank’s enhanced mobile Web to access their online banking via any device with a mobile web browser. The mobile web experience delivers optimized rendering if the customer is using an HTML5-based phone, such as Palm WebOS (in addition to iPhone/iPod Touch, Android, and the most recent RIM BlackBerry devices). With the text banking commands, users can inquire about account balances and transaction history from almost any phone.
WTB Mobile is available for immediate download in both Apple iTunes AppStore and Android Marketplace.
Source: mFoundry