JACKSONVILLE, Fla.--(BUSINESS WIRE)--Eager to transact banking around the clock and around the world, consumers are adopting mobile phone and other Web-connected devices in record numbers. The Federal Reserve reports 1 in 5 customers of financial institutions are already using mobile banking services, and 1 by the end of 2013, roughly 43 percent of bank customers are expected to be using their smartphone for banking on the go.
Financial institutions are getting the message. FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today reinforced the rapidly growing interest in mobile, announcing that its client base for mobile has increased more than 150 percent year-over-year. That sharp rise reflects FIS’ recent launch of solutions for tablets, mobile wallet and business mobile.
FIS also said that adoption by bank users or consumers of its mobile offerings has climbed more than 200 percent year-over-year. Bank customers have enjoyed the convenience of using their smartphone cameras for check deposits, reflected in the more than $1 billion in deposits made with FIS’ client institutions since those clients made mobile banking services available to their customers.
Consider the experience of BMO Harris Bank, a leading FIS mobile-banking client. It introduced remote deposit capture and mobile banking services in 2012 to its U.S. customer base to support its strategic growth objectives. BMO Harris Bank says its partnership with FIS on mobile has sparked “fantastic” business results.
“We have far exceeded our goals and customer delight is strong,” said Patrick Reetz, BMO Harris Bank’s head of U.S. Online and Mobile Banking, North American Integrated Channels. “Our customers love the remote deposit capture feature, and volumes are far ahead of our projections. Teaming with FIS on our mobile offerings will continue to help BMO Harris Bank exceed its customers’ expectations.”
The FIS Mobile suite aligns with FIS’ strategic focus of delivering exceptional customer experience with the highest standards in security, enabling money to move seamlessly, to meet financial institutions’ and consumers’ growing mobile demand. FIS provides a strategic platform that delivers top-tier capabilities to its clients.
The FIS Mobile suite has been expanded to include:
- A tablet app that lets a customer conduct mobile banking via visual interaction, easy navigation and rich functionality.
- A cloud-based payment service, FIS Mobile Wallet, which lets consumers use their smartphones to make purchases electronically at the point-of-sale or for online shopping.
- The FIS Business Mobile solution that provides small-business customers the convenience of business banking on their mobile device.
“Financial institutions look to FIS for leadership in leveraging mobile to create competitive advantage,” said Douglas Brown, senior vice president, FIS. “FIS is a market leader and we continue to develop and deliver mobile solutions that promote brand differentiation, drive new revenue streams and reduce servicing costs. This enthusiastic adoption of FIS mobile supports our strategic direction.”
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
1 Federal Reserve System report, “Consumers and Mobile Financial Services,” March 2012.