Verity Credit Union achieves record Adoption with mobile banking


mFoundry, a mobile banking company in the U.S., announced
Verity Credit Union as a customer of its service-based mobile banking platform.
Verity Credit Union is the latest credit union to deploy its mBanking solution.


“We were looking for a partner that could deploy
mobile banking for us without an arduous on-premise exercise. mFoundry’s
excellent deployment track record and their ability to work with our existing
online and core processing systems were key factors in our decision
process,” said Shari Storm, chief marketing officer, Verity Credit Union.


Verity Credit Union’s Mobile Banking gives members access
to their finances from virtually any mobile device, supporting mobile Web, text
and native applications (including Apple iPhone, Google Android, and RIM
BlackBerry devices). By providing members with more access options, Verity has
been able to accelerate mobile banking adoption.


“We burst through 6 percent mobile banking adoption
of our online banking base within three months of launch. This adoption
exceeded our initial expectations, and in many ways, has been our most
successful product launch to date. Mobile banking is certainly one of our most
important initiatives at this time,” Storm added.


mFoundry has
experienced a steady increase in demand from credit unions for its mobile
banking platform, as credit unions like Verity look to use mobile banking as a competitive
advantage for attracting and retaining members.


“Larger financial institutions are under pressure to
replace lost fee revenue you can expect to see fees increase and freebies go
away. This gives consumers more reason to switch to a credit union like Verity
and a superior mobile banking offering is icing on the cake,” said Drew
Sievers, co-founder and CEO, mFoundry.


Verity is one of nearly 100 credit unions to select
mFoundry for mobile banking over the past year, signaling a trend in more
credit unions wanting to provide their members with mobile options.


It also reinforces mFoundry’s position as the mobile
banking solution of choice for banks and credit unions of any size, including
large credit unions like Verity CU. Nearly 500 financial institutions have
selected mFoundry’s mobile banking solution to date.


By Team
[email protected]



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