mFoundry and Sprint to Launch Mobile Banking Application

mFoundry announced an agreement with Sprint that will bring mobile banking and financial services to Sprint customers. Available on Sprint Vision and Sprint Power Vision phones, the solution will enable users to check their bank balances, transfer funds between their accounts and make bill payments with participating banks.

The Sprint Spotlight mobile banking solution will include services from a number of financial institutions, including Citibank. In addition, VeriSign will leverage its expertise in secure content delivery to host participating banks within Sprint's mobile banking solution.

"Offering our Sprint customers a way to quickly check their balance and manage their banking account anytime, anywhere on the Sprint National Network, is just another example of the power of mobility," said Mike Coffey, vice president, user experience and emerging products, at Sprint. "Mobile banking is an excellent complement to the many other data applications that we offer, including music, video, navigation and more, that make customers' lives more productive and enjoyable. And the Spotlight solution allows us to offer a distinct, flexible solution for financial institutions as well as mobile subscribers."

The mobile banking solution will be deployed using mFoundry's Spotlight Financial Platform that supports security features including multi-factor authentication, encryption and the ability to deactivate the application remotely. mFoundry has integrated its existing mBanking product into the Spotlight Platform and all of its current mobile banking customers will be included in the Sprint Spotlight solution. Banks using Spotlight to deliver full-service mobile banking will allow customers to check account balances, search for transactions, transfer funds, receive and pay their bills and find ATMs and branches. Other financial institutions can use the Spotlight Development Platform to create their own customized applications that can be accessed from within the Sprint Spotlight solution.