ST. PETERSBURG, Fla. – PSCU Financial Services yesterday said it has agreed with Financial Service Centers Cooperative to develop a mobile platform for credit unions that connects the shared branch network to members’ cell phones.
The deal has the potential to set a standard for credit union mobile banking because of the size of the two organizations: PSCU Financial provides payments services for more than 1,100 credit unions and FSCC connects 5,000 credit union branches across the country. Credit unions on the FSCC network will be able to use their existing shared branch interface to offer the mobile banking service, eliminating implementation fees or host system programming.
The service will offer the typical account access, bill pay and account transfer functionality, as well as bill payment and check transaction archives.
The two credit union-owned organizations have already pilot-tested transactions at various credit unions and are aiming for a roll out later this spring.