Fiserv Rolls Out 'Mobile Money FastTrack'

Fiserv, a provider of financial services technology solutions, introduced Mobile Money FastTrack, a straightforward mobile banking solution for financial institutions.

The company stated that Mobile Money FastTrack, a streamlined version of the flagship Mobile Money solution introduced by Fiserv in 2008, delivers essential mobile banking features within an packaged solution that can be enhanced as the mobile channel matures.

Mobile Money FastTrack can provide "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.

"In the current economic environment, financial institutions are being strategic about their investments. For those institutions looking to implement a mobile banking solution, Mobile Money FastTrack from Fiserv provides an affordable solution that can be up and running quickly, without consuming a lot of internal resources," said Todd Lesher, president, Electronic Banking Services, Fiserv. "Financial institutions that implement Mobile Money FastTrack can begin realizing a return on investment from day one as consumers are diverted from more costly channels. In addition, institutions can have peace of mind knowing they are positioned to capitalize on future growth in mobile banking."

Mobile Money FastTrack from Fiserv incorporates technology from Atlanta-based M-Com. M-Com and Fiserv announced their technology partnership in September 2008 under the label Mobile Money from Fiserv.

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