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TMCNet:  Fiserv White Paper Outlines the Unique Mobile Banking Needs of Business Customers

[August 12, 2014]

Fiserv White Paper Outlines the Unique Mobile Banking Needs of Business Customers

BROOKFIELD, Wis. --(Business Wire)--

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, has released a white paper for financial institutions that highlights the unique digital banking needs of business customers, with a focus on mobile banking. Titled "Riding the Digital Wave for Business Banking, Propelled by Mobile," the white paper discusses how financial institutions can enhance digital banking services to attract and retain business customers.

The majority of small- and mid-size businesses already use online banking, and mobile banking is on the rise. Research from Raddon Financial Group found that 35 percent of small businesses use a smartphone and 25 percent use a tablet for business banking, and industry forecasts suggest these numbers will rise.

Businesses represent a strong growth opportunity for financial institutions, and use of digital banking solutions can deepen these relationships. Financial institutions can best serve business customers by offering digital banking capabilities that take the unique needs of businesses into account, including:

  • Tight Security and Control - Businesses often have exact requirements for security features and expect proactive monitoring. Access control based on role is critical as business accounts might be accessed by multiple employees for different reasons.
  • Streamlined Processes - Efficient functionality enables businesses to consolidate and speed tasks and avid time-consuming branch visits.
  • Tailored Functionality - Businesses need capabilities such as wire transfer approval and positive pay decisioning, and benefit from the ability to deposit checks and initiate payments.
  • Streamlined Onboarding - Onboarding, user administration and credential management are vital for businesses with accounts that are accessed by multiple employees, and integrated online and mobile banking credentialing facilitates changes to information or access.
  • Reimagined User Interface - Businesses require tools that facilitate decision making, such as data in the form of easy to read graphs or charts. They also want to readily identify items that need their attention and be able to efficiently manage and resolve exceptions.

"With more businesses using digital banking services, there is a focus on providing specialized mobile banking capabilities which cater to the needs of this attractive market segment," said Teri Carstensen, division president, Bank Solutions, Fiserv. "Financial institutions that optimize their digital banking solutions for business users are best positioned to strengthen relationships with their customers and capitalize on growth opportunities."

Additional information can be found in the whitepaper, "Riding the Digital Wave for Business Banking, Propelled by Mobile," at www.fiserv.com/digitalwavepaper. Fiserv clients can also register to attend a free Fiserv Boardroom Series webinar, "Business Goes Mobile," on August 13 at 3:00 p.m. at http://www.communities.fiserv.com.

Fiserv offers financial institutions an array of business banking capabilities to enable them to better serve both small business and commercial customers.�For more information, visit www.fiserv.com/businessbanking.

Additional Resources:

About Fiserv

This year, Fiserv, Inc. (NASDAQ: FISV) celebrates 30 years of leadership in financial services technology. As one of FORTUNE® magazine's World's Most Admired Companies, Fiserv is helping clients worldwide achieve best-in-class results by driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

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