At Fiserv, Mobile Will Be the Beginning, Middle and End of the 2013 Story

December 5, 2012

At Fiserv, 2013 is spelled M-O-B-I-L-E.

Next year, Fiserv, which provides financial services technology to more than 16,000 institutions and generated revenue of about $1.1 billion last quarter, will push even harder into mobile financial services, Steve Shaw, vice president of strategic marketing for the company’s Digital Channels & Electronic Payments divisions, told Bank Innovation.

There are 700 to 800 companies now live on Fiserv’s mobile banking ASP. The ASP was drawing more “one off” clients previously, Shaw said, but now “we are seeing more traction there.”

Popmoney, Fiserv’s peer-to-peer payments product, is slated for enhancements within the first six months of 2013. Specifically, Fiserv will go public with a small business P2P payments feature and group and “requesting” features, that will allow Popmoney users to request money from a group, Shaw told me.

2013 will also mark the year in which Fiserv will fully incorporate the personal-financial management (PFM) tools it acquired as part of  its purchase of CashEdge in 2011 into Fiserv’s online banking platform. There will be more small business functionality added to the Fiserv online banking system next year, too.
But all these product enhancements are part of a broader endeavor at Fiserv to better the online and mobile banking user experience, Shaw told Bank Innovation. A better user experience is why Fiserv is developing a “snap to pay” feature that will allow consumers to snap a photo of a bill with their smartphone, which Fiserv will use to automatically add that payee to the consumer’s online banking account.

“We are focused on the user experience, to insure that when people come in to our mobile banking platform, they can find what they need to do,” Shaw said. ”The tablet is going to be huge for us, as well. We have a concerted tablet strategy. There is unique relevance for the tablet, and [we are intent on] leveraging the capabilities of the tablet. User experience is huge for us.”

Shaw and I talked about the limitations of quantifying user experience — something I’ve been thinking about in recent months. But he and the Fiserv team seem to be formulating a methodology.

“Quantifying user experience is hard,” he said, referring to mobile and online banking usage, in particular. “Is it usage; it is number of products; it is number of times logging in. For us … we have a lot of assets in the digital channels and payments. We need to do a great job integrating those that really put our FIs into the forefront of innovation.”

The Fiserv 2013 agenda, in a nutshell.

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One Response to At Fiserv, Mobile Will Be the Beginning, Middle and End of the 2013 Story

  1. [...] mobile banking will be Fiserv’s major focus in 2013. The company plans to implement several upgrades to Popmoney next year, as [...]

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