PyraMax Bank, a $500 million asset bank based in Greenfield, Wisconsin (the name is an amalgam of "pyramid" — the bank's logo is a pyramid — and "maximized service"), has launched an iPhone mobile banking app based on technology from Monetise Americas. The app is capable of allowing bank customers to transfer funds, pay bills, check their balances and receive text alerts on their iPhones.
Monitise says it has processed more than 20 million mobile app banking inquiries and transactions in the past six months. Monitise Americas, a joint venture between FIS and Monitise, provides Mobile Money services to more than 200 banks, credit unions, and prepaid issuers around the United States. It intends to deliver applications to other app stores including Google's Android Market and RIM's BlackBerry App World.