SunTrust will use Mobile Money to enable clients to access their accounts using SMS (text messaging) or mobile browser technology, complementing a separate downloadable application that is already available. Additionally, clients will be able to sign up for a variety of account alerts.
Mobile Money from Fiserv supports users on all three mobile access modes, offers online and offline enrollment capabilities and integrates with core banking, online banking and electronic payments systems.
Mobile Money 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. Mobile Money application utilizes data encryption along with additional risk management safeguards.
Ginger Schmeltzer, senior vice president of SunTrust Bank, said: “It is important to offer each of our clients the ability to easily access their account regardless of the type of mobile device they use. We also want to enable clients to more proactively manage their accounts through customized account alerts. Mobile Money will allow us to deliver both robust access and a rich set of alerts.”
Todd Lesher, president of electronic banking services at Fiserv, said: “SunTrust has a solid reputation for providing reliable service. Mobile Money from Fiserv will enable SunTrust to make interacting through the mobile channel even easier for their clients, and there is potential for a substantial return on investment as use of the channel grows.”
