Members 1st Forms Mobile Team
MECHANICSBURG, Penn.-Members 1st FCU here has formed an internal team tasked with enhancing its mobile banking application.
The six people on the team are all in the IT area and will be focusing on user experience and functionality so that what the member sees is consistent across all mobile devices, including iPad.
Members 1st current mobile offerings include real-time tranactions such as loan payments and account transfers, along with an ATM locator and social media. A bill payment solution is in the works, as is mobile deposit.
Integrating P2P Payments Examined
DES MOINES, Iowa-In a new white paper published by The Members Group, TMG Dwolla Product Leader Brian Day shares best practices for integrating a person-to-person (P2P) payment solution. Day said his recommendations are based on three crucial elements: member experience, branding impact and ease of integration.
In the paper, "Three Areas of Focus for P2P Integration," Day observes, "When done right, P2P will attract new customers, possibly even from new market segments, opening up a world of potential for new and profitable cross-selling initiatives. In the future, as P2P volume increases, FIs may have a greater opportunity to realize revenue from the transfers."
Day noted that institutions that get on board now in P2P will be in an advantageous position when it comes to increasing loyalty, as well as increasing visibility among younger consumers.
To satisfy consumer demand and be successful with P2P products, institutions need to have a defined strategy, Day writes. Day suggests this strategy include focusing on the P2P-fund recipient's experience with the product, understanding how the product's branding will affect or influence the FI's own brand or reputation, as well as knowing how quickly and easily the product can be integrated into the FI's own processes.
The white paper is available for download at www.themembersgroup.com/prp2pintegration/.
Fiserv Launches Mobile Card Reader
PEWAUKEE, Wis.-Fiserv has launched a mobile card reader payment solution called SpotPay. The company said the solution will allow small business customers/members of financial institutions to accept card and check payments anwhere and at anytime. A key differentiator, said Fiserv is that SptPay will also permit mobile check deposit. The solution will be available to credit unions that are part of the ACCEL/Exchange payments network.
More Mobile Resources Available
WEST PALM BEACH, Fla.-CUllaborationNation.com, a service of Credit Union Journal, offers additional resources on mobile banking and social media.