Monitise has announced that Desert Schools Federal Credit Union (Desert Schools) has upgraded to the Vantage 5.1 next-generation mobile banking platform technology for the delivery of value-added features and mobile wallet capabilities.
Desert Schools recognises that continually delivering new mobile capabilities to members is critical for staying competitive. With record adoption since launching mobile banking in 2012, Desert Schools reports mobile users are two times more profitable than traditional banking members, and are averaging 46 interactions a month with the mobile banking application.
New capabilities of Vantage 5.1 include:
- Hybrid Cloud, On-Premise Architecture
- Modular Components
- Advanced User Experience & Design
“Mobile is the future of our relationship with members and being able to update specific components of our mobile platform allows us to deliver a differentiated experience that improves member retention and loyalty, while also attracting new ones,” said Peter Farrow, Chief Information Officer of Desert Schools Federal Credit Union. “Our members have been quick to adopt new mobile features. Monitise’s Vantage platform is allowing us to capitalize on the mobile opportunity and deliver fast and frequent updates to an application that member’s desire.”
“Nearly 50% of consumers are deciding to switch banks based on their mobile offering, proving that new features are critical for keeping and attracting customers,” said Lisa Stanton, President of the Americas at Monitise. “Desert Schools understands that continually updating their mobile offering is required to stay competitive, and that future revenue opportunities will depend on proven mobile payment and shopping features.”
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.