Ondot Systems unveils card control integration platform
Card control firm Ondot Systems has released its multi-interface card control integration platform. The California-based company has combined a server-side API, mobile apps, and an HTML5 framework to give financial institutions (FIs) the ability to add card control technology to their mobile banking solutions, reports Finovate (Banking Technology‘s sister company).
“Much as Facebook Messenger fits completely within Facebook, Ondot’s Mobile Card Services platform can sit perfectly within any FIs’ mobile banking app,” Ondot Systems senior director of product and professional services, David Golden says. “(This) drives more mobile engagement as consumers establish their own card usage preferences.”
Golden credited mobile card control services for providing banks with average revenue gains of $30 per user per year, and emphasised the importance of a friction-free experience to ensure continued – to say nothing of increased – card usage.
Each component of Ondot’s Card Control platform is designed to make card control services an easy feature to be added by FIs and used by consumers.
The server side API gives FIs the ability to establish the look and feel of the solution, while the HTML 5 framework means that going forward banks will be able to introduce new card control features faster. And by locating the card controls app inside the FI’s mobile banking app, the Ondot says services are accessible via the same single sign-on process. This gives bank customers a consistent UI and UX across all mobile devices.
Also available as a customisable, white-label, standalone card control app, Ondot’s mobile platform provides a range of card services including on/off switching, spending limits, fraud alerts, as well as geolocation-, transaction-, and merchant-specific controls.
The firm was founded in 2011 and is headquartered in San Jose. It has raised $28 million in funding, including a $10 million venture round in 2016.
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