[June 1st, 2000] Fiserv has teamed up with m-commerce specialist Digital Mobility to deliver a managed solution for mobile financial services.
The offering will enable financial sector organisations to provide services via new generation mobile phones and PDAs, without having to invest in any capital expenditure items or additional staff. The managed solution includes provision of a secure, scalable technology platform and guaranteed service levels. Ownership of the infrastructure will remain with Fiserv, and the financial technology and services provider will also be fully responsible for maintenance.
The service has been launched in response to research which revealed growing concerns in the retail banking sector over the level of investment needed to introduce and maintain mobile channels. A typical in-house solution is estimated to cost at least £1 million to start up, plus substantial ongoing expenditure to maintain a complete and competitive offering.
Fiserv’s solution allows financial services companies to choose the level of service they require, from providing basic account information, such as reminders and balances, through to real-time e-banking. The basic offering starts at around £8,000 per month for a designated number of customers and takes only two months to implement. The service is fully scalable and customers can opt to move the solution in-house at any stage.
The service incorporates Digital Mobility’s WAPHub technology, which offers a range of integration, authentication and security services. This will enable users to deliver additional ‘wireless’ services such as stock market information, travel booking and news updates through Digital Mobility’s existing partnerships with leading content providers.
"The main barrier to take up of service delivery through wireless channels is cost. Companies are uncertain about the initial levels of investment they should be making and what additional costs are needed to maintain and grow a competitive service offering," said Les Line, business development manager at Fiserv. "The partnership with Digital Mobility addresses these concerns directly through offering a cost-effective, quick and straightforward route to market."
"Many solutions available in the marketplace are responsible for stalling the widespread rollout of these exciting new channels. By outsourcing the set-up and management of mobile services to experts, organisations can offer their customers a wide range of content, together with secure banking and trading services. What is more, all of these services can be tailored to enhance the customer proposition for any size of organisation, from any sector," said Marcus Taylor, director of products and services at Digital Mobility.
About Fiserv
Fiserv is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 10,000 financial service providers worldwide, including banks, broker dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions.
Fiserv Inc.’s worldwide headquarters are in Milwaukee, USA, while its European headquarters are in Stockley Park, Middlesex. Fiserv’s European product and service offerings currently cover three core areas:
Retail banking and consumer finance solutions
Knowledge management and Management Information Systems (M.I.S.)
Customer profitability and risk management
Fiserv’s clients in the UK include Prudential, Birmingham Midshires Financial Services and Banque Nationale de Paris.
