mFoundry has announced that more than 400 US financial institutions have selected mBanking, its mobile banking and payments solution.
“We’re currently adding about one new financial institution per day to our platform through our direct and channel relationships. While we’re seeing the strongest demand in our company’s history, there’s no question the true demand is being driven by the consumer who has made it clear they expect their financial institution to offer a sophisticated mobile access point,” says CEO and co-founder, Drew Sievers.
The company attributes its growth to the addition of new features like Mobile Deposit, which mFoundry recently launched with PNC Bank and the CO-OP Financial Services. “At this point, we’re seeing user adoption increase by more than 10 per cent each month,” says Sievers. “This means annual end-user growth in excess of 200 per cent. Mobile banking and payments technology has moved from niche to mainstream in a heartbeat, and I see no sign of the pace slowing anytime soon.”
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