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The agreement was announced at the BAI Retail Delivery conference in Boston.
"In today's strained economy, Americans are looking to their bank or credit union for help managing their finances," said Albert Ko, senior VP of online financial management at Digital Insight. "Working with MMV expands our mobile capabilities to help financial institutions put more information in the hands of end users, no matter where they are."
MMV noted it was named a preferred mobile financial services provider for Digital Insight based on the strength of its products, its ability to bring new mobile technologies to market, and its financial position. MMV has a successful track record of deploying mobile products globally, including banking and stock trading with Citibank Hong Kong.
"Financial institutions understand the tremendous value that their customers gain from immediate access to financial information. We're happy that our relationship with Digital Insight will expand the reach of mobile financial services to banks and credit unions across the U.S." said Jay Bhattacharya, senior VP of strategic business development at MMV.
In addition, MMV said it recently secured $12 million in second round funding from strategic investors. The additional funding will fuel MMV's strategy and accelerate its ability to deploy mobile financial service solutions.
With the MMV mobile solution, customers can access their financial information, transfer funds, pay bills, check bank product rates and locate the nearest ATM or branch from any mobile phone with a web browser. Customers can log into their accounts using their internet banking username and password. To protect financial information, the solution utilizes two-factor authentication and 128-bit encryption. In addition, no financial information is ever stored on the mobile device.
MMV said it has also worked with Citi to launch mobile banking and other financial service solutions in five countries.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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