Banno to offer ProfitStar’s solutions via its Grip tool

Partnering with ProfitStars

Payment services provider Banno has announced that it will be partnering with ProfitStars, allowing it to offer the latter’s iPay Solutions integrated bill pay and Remote Deposit Anywhere™ mobile RDC solution through its financial decision support tool, Grip (view press release).

Grip analyses best price, place to buy, time to buy and payment method. Banno believes that ProfitStars’ funds transfer tools within Grip will make for a seamless mobile experience.

According to Wade Arnold, CEO of Banno, “Grip already satisfies the real-time purchasing ability that consumers demand in mobile services, and now it enables financial institutions to cost effectively extend competitive funding and payment options through a single, turnkey solution… Mobile banking and mobile PFM solutions have not previously been aligned with how the masses intend to use their smartphones and tablets. We can help people answer questions like ‘Where did my money go, and how much can I spend?’ and provide the power (and funding) to execute transactions.”

Celent reported in October that 49 percent of financial institutions have, are piloting or are planning for mobile RDC, compared to just 8 percent in 2009. 

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