Firethorn Mobile Banking Upgraded

Mobile banking company, Firethorn Holdings has upgraded its mobile banking platform

Expanded functionality will include typical mobile banking such as balance inquiries, funds transfers and bill pay, as well as features that provide new marketing opportunities for financial institutions, operators and consumers.

Financial institutions also will have the ability to tailor the account information displayed on the customer's mobile device for each type of account. By customizing what customers can access, banks and credit unions are able drive users to the most pertinent account information.


Marketing Features

In response to customer preferences, Firethorn has created three dynamic new service features designed to give new marketing opportunities to Firethorn financial institutions, wireless operators and other providers:

• Offers Feature - provides the ability to extend targeted promotions to users regarding products or services. Consumers benefit from access to new promotions and special services that might help them save money on a new car loan or gain preferred paths to new products and services.
• Rewards Feature - coupled with institution rewards programs, it allows consumers to track their loyalty points for their financial institution accounts and, in the future, for their merchant relationships.
• Customization Feature - allows providers to customize their services as programs evolve by adding desirable new functions in designated areas throughout the application.

These three key enhancements give providers the ability to customize their user interfaces with their own unique look and feel, as well as generate incremental revenue through these enriched services. Additionally, Firethorn developed and applied backwards compatibility to the platform. As a result, financial institutions do not need to change their back-end processes to launch this new application version. Institutions and their customers are automatically live with the new platform and enjoy a seamless upgrade process.

Facts and Stats

• 62 percent of respondents would be likely to use their mobile device to obtain bank account balance information.
• 28 percent would like to track loyalty accounts on their phone.
• 32 percent want to receive coupons and 23 percent want to receive product information on their mobile device.

Firethorn's upgraded solution is designed to stimulate the consumer's appetite for increased capabilities in future mobile commerce activities. The enhanced features are geared toward the consumer's desire for emerging mobile technology that will complement and ease their on-the-go lifestyle.