Brookfield-based Fiserv Inc., which offers technology solutions for financial institutions, has announced a new mobile product tailored to business banking users, called Mobiliti Business.
The platform delivers mobile banking and payment services for small- and mid-sized businesses through apps available on iPhone or Android devices. It is hooked up with the Business Online banking service offered by Fiserv to financial institutions.
Mobiliti is already available through some financial institutions to consumers. The business version was designed to fit business financial tasks, like maintaining an overview of the overall financial status, paying, requesting and receiving money. The app includes approval capability for internal transfers, ACH transfers, wire transfers and positive pay exceptions; push notifications for approvals; multi-factor authentication and customizable user access for security; the ability to transfer funds between accounts using a template; and mobile deposit capture for depositing checks via a smartphone.
“There is strong demand among businesses for mobile banking capabilities from their financial institutions,” said Christine Barry, research director, Aite Group. “However, many banks and credit unions try to serve the business audience with a retail product, or a slightly modified retail product. That’s a missed opportunity for financial institutions to better engage with businesses by offering the customized digital banking services they need.”
“Mobiliti Business enables financial institutions to not only provide the in-demand products their business customers want, but demonstrate they are aware of and understand the distinctive needs of business mobile users,” said Marc West, president, Digital Channels, Fiserv. “By offering a tailored digital business banking experience, financial institutions of all sizes can deepen their relationships with a valuable customer segment.”