Atlanta-based SunTrust Banks ($174.2 billion in assets) plans to use Mobile Money from Fiserv to allow clients to access their accounts using SMS (text messaging) or mobile browser technology, complementing a separate downloadable application that is already available. Clients will be able to sign up for a variety of account alerts.
The selection of Mobile Money represents an expansion of an existing relationship, as SunTrust already utilizes consumer online banking and bill payment solutions from Fiserv. Available in a licensed or hosted version, Mobile Money combines banking and payments capabilities and includes functions such as balance inquiries, transaction history, account transfers, bill payments and one and two-way account alerts. Informational services such as an ATM and branch locator are also included.
Mobile Money from Fiserv incorporates technology from Atlanta-based mobile banking and payments solution provider M-Com.