bankingciooutlook

Fiserv.: Spearheading the Mobile Banking Revolution

CIO Vendor On a fine spring evening in the heart of the Las Vegas Strip, Jeffery Yabuki, President and CEO of Fiserv stepped into the spotlight at The Venetian and The Palazzo hotel to deliver his keynote. To the thousands of financial services professionals who had poured in from across the nation to attend the Fiserv Forum Spring Client Conference 2015, Yabuki stated: “Financial Institutions (FIs) need to successfully serve the current generation of ‘mobivores’ or risk falling behind.” With the steady growth of smartphones, an increasing number of consumers are using only their smartphones to access digital banking services, forgoing other devices like desktop or laptop computers and tablets. While many digital businesses have successfully accommodated these mobivores, FIs are yet to provide a compelling user experience. “To retain and attract mobile-only consumers, financial institutions must think differently about the mobile channel,” Yabuki challenged the audience.

Organizations in this arena can no longer consider mobile as simply an add-on channel. To meet the high expectations of mobivores, companies must carefully examine how the mobile-only user accesses financial services. Research indicates that 63 percent of mobile consumers will be mobile bankers by 2018. With statistics pointing towards the surge in mobile banking, Fiserv is at the forefront of meeting the needs of these mobile-first consumers. “Designed with the end user in mind, our Mobiliti solution transforms the way we bank,” remarks Yabuki.

Innovation, Integration, Experience

With the world pushing toward a new kind of financial services experience—the kind that serves real people in an increasingly digital and connected world—Fiserv draws on deep knowledge and foresight to constantly look ahead for its clients. “We deliver solutions that work for today’s realities and will take them into the future,” states Yabuki.

From channel management and payments to processing services and risk and compliance, Fiserv is a leader in digital banking that delivers “what’s next” in the financial services industry. Whether it is a growing community bank, a large, multinational financial institution or a nontraditional banking organization, Fiserv has a bank platform that fits everyone’s needs. “A superior banking platform lays the foundation for your success as a financial institution,” says Yabuki.

“You need a bank platform that creates efficiencies by improving your key processes and also enhances performance across your organization by leveraging industry-specific tools.Most importantly, a scalable and flexible platform with a Service Oriented Architecture (SOA) that will help meet customers’ evolving needs.”

Fiserv’s comprehensive and integrated solutions—like Agiliti, Cleartouch, DNA, and Precision—address all of a bank’s performance and growth concerns.

The company’s advanced bank platforms help FIs improve customer service, streamline back-office operations and compete more effectively. Mobivores are not left behind as well; with Fiserv’s mobile solutions, FIs can meet their customer’s mobile banking needs and rapidly achieve a compelling ROI. “With consumers demanding services such as mobile Person- To-Person (P2P) payments, it is important for businesses to adopt enterprise-wide mobile financial services strategies that will enhance customers’ banking experiences,” comments Yabuki.

Today, Fiserv offers industry leading mobile banking, alerting, database access, workflow, and payments solutions, for banks and credit unions of all sizes. “Our solutions offer a wealth of features that lower the total cost of ownership and help you reach more consumers,” adds Yabuki. With support for a broad range of mobile transactions, from simple banking inquiries to a complete set of mobile alerting and payment models, Fiserv satisfies today’s mobile banking needs while supporting the evolution of the mobile channel. In addition, the support for all three mobile access modes—SMS, mobile browser and downloadable application—through a single integrated platform enables FIs to reach their customers wherever they are.


Designed with the end user in mind, Mobiliti transforms the way we bank


Rich Functionality

The company’s Mobiliti is a hosted solution that gives community banks and credit unions the tools and expertise to deliver powerful, world-class mobile banking and payment services—with minimum impact on budgets, human resources and implementation timeframes. Available as an Application Service Provision (ASP) or Software as a Service (SaaS) product, it provides companies the resources necessary to offer a best-in-class mobile and tablet banking and payments solution. “You can now rapidly deploy an affordable mobile banking platform that evolves as your users and your mobile channel grows,” says Yabuki. Mobiliti integrates seamlessly with existing Fiserv assets with a particular focus on delivering a consistent experience across digital channels.

The Mobiliti ASP engine enables rapid configuration and deployment of mobile and tablet banking and payments services for any financial institution. “Our deployment track record and proven experience in online and mobile financial services empowers you to go to market with the right solution at the right time,” he continues.

Going beyond just the basics of balances, transfers, and bill payment, Mobiliti’s powerful suite of standard features also includes customer care tools, service reporting, and analytics and diagnostic tools.“Our goal is to deliver solutions designed for the way customers live and interact with their financial institutions,” states Yabuki.Driven by in-depth research conducted with consumers and FIs Mobiliti is a modern application that presents a completely new user experience.Also, since the usage of tablets is skyrocketing, Fiserv’s Mobiliti: Tablet offers a banking experience optimized for tablet

users—a compelling interface and rich user experience that drives increased consumer loyalty.

"Fiserv satisfies today's mobile banking needs while supporting the evolution of the mobile channel"

Under the Mobiliti umbrella, Fiserv offers a comprehensive range of solutions that cater to specific business needs. “Mobiliti Enterprise is a flexible, extensible mobile financial services solution that enables large financial institutions to deliver the most all-inclusive breadth of transactions services today to retail and business customers,” says Yabuki. Likewise, the company has Mobiliti Advantage, Mobiliti Business, Mobiliti Edge, Mobiliti Reach, SpotPay and more to open up new market segments and satisfy the needs of technologically savvy consumers.

Driving Innovation that Transforms Experiences

Thousands of clients working in a wide range of businesses trust Fiserv with their financial services needs. “For 30 years, we've grown by partnering with our clients—by identifying their needs and offering technology solutions that meet their requirements,” remarks Yabuki. For instance, ACLEDA Bank Plc., Cambodia’s leading commercial bank, relies on Fiserv’s mobile solutions. When ACLEDA wanted to attract a totally new segment of customers, including some who had never interacted with the ACLEDA brand, they turned to Mobiliti Reach. With Fiserv’s solution, ACLEDA enabled universal financial services for Cambodia’s mass market segments and provided a broad and compelling range of mobile financial services to consumers that had never accessed banking services before. “We provided them complete banking functionality including the provision of a mobile wallet, P2P payments, bill presentment and payment, and enrollment tools for reaching existing customers and new consumers,” reveals Yabuki. Since then, Fiserv has established a strong partnership with ACLEDA and continues to work together to actively market the bank’s mobile banking and payments offering while exploring future opportunities to expand its capabilities.

As Fiserv continues to innovate and transform experiences for more than 14,500 clients worldwide, Yabuki is also wary of today’s increasing data breaches and security concerns. He stresses that security has been one of Fiserv’s biggest areas of investment over the last five years. “Everyone is vulnerable to a data breach, and you just have to do whatever you can to protect yourself,” he says. Following the Target hack, Fiserv has reviewed all of its processes and fortified them. Moving forward, the company will remain focused on security while expanding to provide financial technology to countries abroad. “We are keen on outsourced banking services in some of the European markets and want to sell more mobile banking and payment services around the world,” adds Yabuki.

Furthermore, with mobile on the rise and consumers demanding holistic and integrative services that complement their current digital lifestyle, Fiserv is set to stay on the pulse of mobile innovation, helping clients get ready for what’s next in mobile banking. “We will take the best of what’s out there now and put it all together in one application,” concludes Yabuki.