COCC Partners with mFoundry for Mobile
INSIGHT Solution
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mFoundry mobile banking technology to power COCC’s Mobile INSIGHT solution
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COCC core processing clients will pay no monthly fees through 2012
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Key factors in COCC’s decision were mFoundry’s multi-mode approach,
substantial customer base, and robust pipeline of innovative mobile banking
functions
Avon Conn. March 28, 2011 – COCC has formed a strategic partnership with
mFoundry, the award-winning provider of secure mobile banking and payment solutions,
to deliver multi-mode mobile banking services (text, mobile web and mobile apps). The
mFoundry platform integrates directly with COCC’s .Net and Oracle-based core
processing platform for real-time information and transaction processing. The integrated
service will be marketed by COCC as Mobile INSIGHT, with monthly fees waived for
COCC’s core processing clients through 2012.
“We are telling our clients in the strongest possible terms that they should get involved
with mobile banking now,” said Richard A. Leone, COCC’s President and CEO. “As a
technology co-operative, our mission extends well beyond providing the best integrated
technologies for our clients. We are compelled to identify major trends in banking
technology and to price the related products so that our clients can position themselves
for future success. Today’s announcement of our partnership with mFoundry for multimode mobile banking services coupled with our no cost pricing through 2012
demonstrates the many advantages of our co-operative ownership structure and our
vision of financial technologies. We are actively investing in our clients’ future in mobile
banking.”
Industry experts forecast that mobile banking transaction volumes will surpass online
banking in the next few years. Mobile banking will also provide opportunities to reach
consumers who have limited access to desktop computers and the increasing number
who perform routine tasks solely on their mobile devices.
COCC’s Mobile INSIGHT product will enable clients to promote and support mobile
banking via the three major modes of mobile banking: text, mobile web and mobile
applications (Apps). This multi-mode approach provides flexibility so that COCC clients
can reach the broadest spectrum of prospective mobile bankers, particularly the younger
generations, without requiring an Internet banking product as well. Mobile INSIGHT will
enable COCC clients to serve consumers regardless of their mobile device, and to
continue to stimulate the market with innovative mobile solutions.
mFoundry has emerged as the preferred provider of mobile banking and payment
services in the United States, providing multi-mode mobile banking to more than 330
banks and credit unions nationwide. Its scalable and secure product offerings enable
financial institutions to start using the mobile channel and complemented by
comprehensive reporting and analytics that enable financial institutions to effectively
manage their mobile banking channel. mFoundry powers the Starbucks mobile payment
application and is the only company to have deployed a live mobile payments solution of
this scale in the United States.
“Today’s partnership combines the power of mFoundry’s innovative mobile technology
with COCC’s quality service delivery,” said Drew Sievers, Co-Founder and CEO of
mFoundry. “COCC is ideally positioned to help financial institutions of any size quickly
develop and deploy multi-mode mobile banking solutions With more than 300 financial
institutions running our software, including two of the top five banks in the country, we
have a unique level of experience that enables us to help financial institutions of all sizes
launch successful mobile banking initiatives. We are especially pleased to partner with
COCC to deliver the best mobile banking experience on the market today, and look
forward to working with them to continue delivering innovative and attractive mobile
banking features at market speed.”
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About mFoundry
mFoundry is of the fastest-growing provider of secure mobile banking and payment in
the United States, currently serving more than 330 financial institutions and adding at
least one new bank or credit union each day. The company recently received the 2010
North American Frost & Sullivan Award for Entrepreneurial Company of the Year as a
result of its strong performance and continued execution by providing innovative, growthoriented mobile financial services. mFoundry is also the only mobile banking vendor with
proven experience in mobile payments, known best for its work developing and powering
Starbucks Card Mobile, the most successful mobile payments program in the country.
For more information on mFoundry, please visit http://www.mfoundry.com or ‘like’
mFoundry at http://www.facebook.com/mfoundry.
About COCC
COCC delivers complete enterprise processing solutions to financial institutions
throughout the northeastern United States. Listed among American Banker’s FinTech
100, this client-owned technology company has a history of implementing leading edge
technologies. COCC has been recognized for advanced work in virtualization, storage
technology, and SaaS implementations, as well as superior client service. Client
ownership gives COCC the focus and financial strength to make it the better data
processor.
Media Relations
Robert Bessel
Public Relations Director
COCC
860.674.7214
robert.bessel@cocc.com