Financial Institutions Can Meet Growing Demand for Mobile Banking Among Small and Mid-Sized Businesses with New Mobiliti Business from Fiserv

BROOKFIELD, Wis.--()--Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, today announced the availability of Mobiliti Business™, a comprehensive, secure and easy-to-use mobile banking solution designed to meet the unique needs of business banking users. Mobiliti Business delivers mobile banking and payment services to small and mid-sized businesses via downloadable apps for iPhone® or AndroidTM devices. The solution is integrated into the Business OnlineTM banking service from Fiserv, with plans for additional integrations.

“There is strong demand among businesses for mobile banking capabilities from their financial institutions,” said Christine Barry, research director, Aite Group. “However, many banks and credit unions try to serve the business audience with a retail product, or a slightly modified retail product. That’s a missed opportunity for financial institutions to better engage with businesses by offering the customized digital banking services they need.”

Mobiliti Business was designed based on proprietary Fiserv research into how businesses actually think about financial tasks, including maintaining an overview of their overall financial status, and paying, requesting and receiving money. The result is an app that helps businesses manage their finances more effectively. Mobiliti Business delivers functionality crucial to business owners as well as those with authorized account access, including:

  • Approval capability – Activities requiring approvals, including internal transfers, ACH transfers, wire transfers and positive pay exceptions, can be reviewed and authorized
  • Push notifications – Account users can be proactively notified via push notifications when an approval is needed
  • Security – Multi-factor authentication enables secure access and user entitlements enable customizable access to accounts and functionality
  • Transfers from template – Funds can be transferred between accounts, such as from a checking account to savings account, using templates set up online
  • Mobile deposit capture – Checks can be deposited using the smartphone camera

“If we can make mobile banking quick, easy and secure for our customers, then we can free up time for them to focus on running their businesses, which is invaluable to them,” said Vikki Daily, vice president, Systems and Operation, Five Points Bank. “With Mobiliti Business, our customers have access to the functionality they need to stay in control of their finances. The positive response to our pilot of the service revealed a significant amount of pent-up demand for these capabilities among our business customers. Additionally, the security features revealed to our commercial customers using our cash management system reassured them that this is a safe-secure banking option.”

Research has shown that businesses are willing to pay for more advanced banking features that meet their needs. Financial institutions that deliver feature-rich digital capabilities that meet businesses unique banking needs can strengthen relationships with these valuable customers and create revenue opportunities.

“Mobiliti Business enables financial institutions to not only provide the in-demand products their business customers want, but demonstrate they are aware of and understand the distinctive needs of business mobile users,” said Marc West, president, Digital Channels, Fiserv. “By offering a tailored digital business banking experience, financial institutions of all sizes can deepen their relationships with a valuable customer segment.”

A video highlighting the capabilities of Mobiliti Business can be viewed at https://www.fiserv.com/resources/mobiliti-business-video.aspx.

Additional Resources:

About Fiserv

Fiserv, Inc. (NASDAQ:FISV) is a leader in financial services technology and one of FORTUNE® magazine's World's Most Admired Companies. Fiserv enables clients to achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

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Contacts

Media Relations:
Ann Cave
Director, Public Relations
Fiserv, Inc.
678-375-4039
ann.cave@fiserv.com
Additional Contact:
Wade Coleman
Director, Thought Leadership & Communications
Fiserv, Inc.
678-375-1210
wade.coleman@fiserv.com

Release Summary

Fiserv today announced the availability of Mobiliti Business, a comprehensive, secure and easy-to-use mobile banking solution designed to meet the unique needs of small and mid-sized businesses.

Contacts

Media Relations:
Ann Cave
Director, Public Relations
Fiserv, Inc.
678-375-4039
ann.cave@fiserv.com
Additional Contact:
Wade Coleman
Director, Thought Leadership & Communications
Fiserv, Inc.
678-375-1210
wade.coleman@fiserv.com