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New Mobile Money FastTrack[TM] from Fiserv Speeds Delivery of Mobile Banking Services.

Affordable solution enables financial institutions to rapidly meet today's mobile banking requirements while providing a platform for future innovation

 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: FISV FISV Fiserv, Inc (stock symbol) ), the leading global provider of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
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 technology solutions, today introduced Mobile Money FastTrack[TM], a straightforward mobile banking solution that can be rapidly deployed by financial institutions. Mobile Money FastTrack, a streamlined version of the flagship Mobile Money(SM) solution introduced by Fiserv in 2008, delivers essential mobile banking features within an affordably 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 A mobile browser (earlier referred to as a microbrowser or minibrowser) is a web browser designed for use on a mobile device such as a mobile phone or PDA. Mobile browsers are optimised so as to display Web content most effectively for small screens on portable , SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM.

(2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server.
 (text messaging Sending short messages to a smartphone, pager, PDA or other handheld device. Text messaging implies sending short messages generally no more than a couple of hundred characters in length. ) 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 data encryption, the process of scrambling stored or transmitted information so that it is unintelligible until it is unscrambled by the intended recipient. Historically, data encryption has been used primarily to protect diplomatic and military secrets from foreign , along with additional risk management safeguards.

"The business value enabled by mobile financial services will evolve as consumers adopt financial products and services that can be delivered through their mobile devices," said Stessa Cohen cohen
 or kohen

(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male.
, research director, Gartner, Inc. and co-author co·au·thor or co-au·thor  
A collaborating or joint author.

tr.v. co·au·thored, co·au·thor·ing, co·au·thors
To be a collaborating or joint author of: "He and a colleague . . .
 of the April 2009 report "Evaluating Vendors' Ability to Support a Mobile Financial Services Strategy." "Banks should evaluate mobile financial services technology based on their capability to support not only current functionality, but also enterprise mobile financial services functionality and future technology requirements. Creating an enterprise mobile financial services strategy that serves both short-term and long-term business goals will enable the bank to keep pace with functional development as well as volatile market dynamics."

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[TM] 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 high profile devices such as BlackBerry blackberry, name for several species of thorny plants of the genus Rubus of the family Rosaceae (rose family). See bramble.
([R]) smartphones and the Apple([R]) iPhone[TM].

Mobile Money FastTrack offers both online and offline enrollment capabilities. These multi-channel enrollment capabilities attract more customers to the mobile channel. Once enrolled in mobile banking, customers have been shown to turn to the mobile channel for inquiries more often than higher cost contact centers and branch operations.

"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 Cap´i`tal`ize on`   

v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>.
 future growth in mobile banking."

Mobile Money FastTrack from Fiserv incorporates technology from Atlanta-based M-Com Inc. M-Com and Fiserv announced their technology partnership in September 2008 under the label Mobile Money from Fiserv. Mobile Money is the industry's most complete mobile banking and payments solution, supporting consumers on all three mobile access modes, offering online and offline enrollment capabilities and integrating with core banking, online banking and electronic payments systems. By leveraging the combination of M-Com's BankAnywhere solution and Fiserv's technology assets such as online banking, electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
  • e-billing
  • EBPP
 and payment, and fraud management tools, Fiserv delivers to financial institutions a complete end-to-end suite of multi-channel financial services.

About M-Com

Founded in New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland.  in 2000 and headquartered in Atlanta, GA, M-Com is an international mobile banking and payments solution provider with live Fortune 500 banking customers across Asia Pacific and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . M-Com's core proposition is centered on delivering a positive return on investment through world class adoption metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM.  for the mobile channel while providing the lowest total cost of ownership. For more information, visit

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit

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Publication:Business Wire
Date:Jun 1, 2009
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