Tyfone has unveiled its new mobile banking solution, offering NFC contactless payments, multi-factor ID authentication management and multiple new banking features all on the same platform.
Built on the company’s u4ia mobile financial services platform, the solution is designed to provide banks with a “multi-faceted roadmap” for offering comprehensive digital wallet and payment services, says Tyfone.
In addition to standard mobile banking features such as checking balance, account history review, fund transfers, branch and ATM location look-up, and bill pay, Tyfone’s new solution introduces an aggregation feature that allows customers to see multiple accounts, (i.e., personal, business and jointly held accounts), in a single mobile banking session.
Additionally, the solution is available to 100 percent of a bank or credit union’s customer base – not just those who have online banking.
Users can also perform mobile remote deposit capture (mRDC) to photograph a check and remotely deposit the funds using the mobile banking service.
NFC contactless payments are performed through Tyfone’s SideTap microSD memory cards, which can be inserted into most phones on the market to enabled payment.
Tyfone says they are partnering with several banks and credit unions to roll out the system, namely OnPoint Community Credit Union, one of the Pacific Northwest’s largest credit unions.
“Mobile will quickly become the platform of choice for banking customers as mobile banking services provide more value than either online or in-person banking,” said Mark Miyamoto, Tyfone’s director of mobile banking product development. “The proliferation of smart phones and low cost data plans enable financial institutions the ability to convert a costlier ‘serviced’ banker into an efficient, low cost ‘self-service’ mobile banker.”