US financial institution KeyBank is expanding its mobile banking offering with the launch of mFoundry’s mobile banking technology, mBanking (view press release). mBanking is mFoundry’s SaaS, cloud-based mobile banking offering which is, according to the mobile payment provider, in use by around 10 million consumers via 675 financial institutions across the US. KeyBank claims the new mBanking apps for Android and iPhone have been well received by consumers, with adoption “exceeding the expectations of the bank by nearly two-fold.” KeyBank plans to develop its mobile strategy in stages, gradually adding services that can be integrated with the mBanking applications such as mobile deposit.
“We put an extensible foundation in place – our mobile financial services network – that will allow KeyBank to roll out new features and enhanced mobile banking services faster in the future, “ said mFoundry co-founder and CEO, Drew Sievers.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more