Memphis-based First Tennessee Bank and mobile financial solutions provider mFoundry announced today the sub-60 day launch of a fully integrated three-mode mobile banking solution.
"While we're used to launching banks within 90 days, this was something else entirely," noted mFoundry CEO and Co-Founder Drew Sievers. "FTB was the perfect partner, quickly marshaling their resources to create ideal levels of deployment synergy. 56 days later, we jointly released their new solution. They are an amazing customer."
First Tennessee and mFoundry worked to integrate mFoundry's platform into the bank's existing middleware from core systems provider Fiserv. As a result, the deployment of mFoundry's software delivers interactions with nearly all mobile devices, supporting SMS banking, mobile web and mobile apps.
"We had heard horror stories about eternally delayed deployments by many of the other mobile solutions providers," commented First Horizon CIO Bruce Livesay. "So, we thought long and hard about who to work with in this space, and made the right decision to work with mFoundry. Frankly, I don't believe there was another company that could have gotten us to market this quickly."
Since launching its mobile banking, First Tennessee has seen good adoption rates, meeting its adoption goals within the first month of deployment.
"We knew that the time was right for mobile banking," continued Livesay. "The quality of the product, the teamwork between our companies, and the marketing were all tightly integrated. The results speak for themselves."
Livesay was also named to Bank Systems & Technology 2010 Elite 8.