Kearny Federal Savings Bank installs Fiserv mobile banking tools
Kearny Federal Savings Bank has chosen to install bank processing and mobile payments technology from specialist firm Fiserv, which it says will help the bank increase efficiency and attract new customers.
Based in Fairfield, New Jersey, Kearney Federal Savings Bank was founded in 1884 and has 41 offices in New Jersey. The bank plans to use the mobile banking technology to increase its appeal to a new generation of customers. The services come in two parts: Mobilit will allow customers to do mobile banking and make payments with various devices, while Popmoney will allow them to send money to friends, family and service providers. Users will also be able to deposit cheques from any location using a smartphone camera, through Fiserv’s Mobile Source Capture.
The bank chose the Premier bank processing platform for its scalability and because it expects the new tools will help it to roll out products more rapidly than previously possible. The bank already uses Prologue General Ledger for financial management.
“By replacing disparate third-party solutions with integrated, leading-edge Fiserv solutions, our organisation expects to see increased enterprise-wide efficiencies and cost savings,” said Craig Montanaro, president and chief executive at Kearny Federal Savings Bank. “Not only did we want to streamline our processes, but as our commercial banking business expands and we seek to diversify our customer base, Kearny Federal Savings Bank sought a provider that could deliver innovative solutions to help us remain competitive.”
Mobile banking and mobile money transfer have become a priority for banks and corporates around the world in recent months. In August, Azerbaijan card processing company AzeriCard partnered with software firm OpenWay to create a mobile wallet that helps Azerbaijanis to withdraw cash from ATMs using a mobile phone and transfer money without using a bank card. In France, French railway operator SNFC recentlyinstalled a new system that allows customers to pay for travel on high-speed train using their mobiles.
In May, Spanish banks La Caixa and Santander partnered with telecoms firm Telefónica to create a joint venture offering mobile payment services and a digital wallet designed to gather all their credit cards into one place; users will also be able to send and receive funds via their mobile phone. Bank account details will not be necessary; all the sender needs is the recipient’s phone number.