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150 CUs choose Fiservs Mobile Money

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BROOKFIELD, Wis. (7/23/10)--Credit unions are increasingly adopting solutions to help their members conduct transactions through mobile phones, and Fiserv’s Mobile Money is no exception. About 150 credit unions have chosen Mobile Money, which gives credit union members the ability to use any mobile device to check account balances and history, transfer funds, pay bills and track account activity. Mobile Money is supported through text messaging, mobile browsers and downloadable applications. Roughly 84 credit unions use the service, including Call FCU, Richmond, Va. More than 313 members signed up for the service at Call in the first three months. “Our members love it, find it very easy to use, and like that they can self-enroll from our website,” said Karen Salmons, chief operating officer of the $330-million-asset credit union. “We hope Mobile Money eventually will help to reduce our call center volume.” Mobile Money has industry standard data encryption and risk-management safeguards, Fiserv said. The solution integrates with online banking and online bill payment solutions. Solutions like Mobile Money can strengthen credit unions’ competitive position and appeal to a broad range of consumers, including Gen Y, noted Dave Selina, segment executive for Fiserv Credit Union Solutions. Fiserv, a financial services company, is based in Brookfield, Wis.