Fronde Anywhere, a newly-formed, wholly-owned subsidiary of Fronde Systems Group, has announced the launch of its mobile banking, payment and two factor authentication solutions worldwide.
Fronde Anywheres customisable solutions, which can be tailored to meet the needs of individual organisations or end-user segments, enable financial institutions to cost-effectively deploy end-to-end mobile banking offerings.
Mobile banking provides an ideal opportunity for banks to differentiate themselves against the competition and improve customer loyalty, says Rob Bamforth, Principal Analyst at Quocirca. If implemented effectively, such technology could generate significant business benefits for banks, while improving customer relations.”
Fronde Anywheres Bank Anywhere solution has already been implemented by New Zealands Kiwibank, where it is enabling the banks customers to access a full range of banking services and complete transactions from their mobile phone.
The uptake of these services has been phenomenal says Steve Ferguson, General Manager for distribution at Kiwibank. By enabling us to provide easy-to-use, full featured mobile banking, Fronde Anywheres technology has helped us establish Kiwibank as an innovative market leader in banking services.”
Fronde Anywheres Bank Anywhere platform enables end-users to securely and easily make payments and bank transactions from their mobile device, while its two-factor authentication product, TwoSecure, adds an additional and vital layer of security to Internet banking.
Java- and SMS-based Bank Anywhere enables banks to offer a wide-range of mobile services from a single platform, including account balances, transaction history, and fund transfers. In addition, through the solutions secure java application, end-users can conduct automatic, bill, and person-to-person payments. The product can be tailored to reflect a banks branding, and also fits with the look and feel of each mobile device. End-users can simply access their banking tool from their phone menu. Additional advantages for banks include the reduced operational costs that come from eliminating a significant proportion of inbound contact centre calls, and increased revenues.
TwoSecure secures Internet banking transactions by eliminating the risk of main-in-the-middle attacks and third parties assuming the users identity. The product is more cost-effective than hardware tokens for banks to deploy, and more convenient for consumers to use, the company says. By generating one-time passwords to users handsets that can be matched with one held on the server, users can gain authenticated access to online transactions or remote networks.
The clear business benefits of mobile banking should make it a top priority for banks,” says Caroline Dewe, Executive Vice President, Products and Marketing at Fronde Anywhere. By embracing mobile banking now and getting it right, banks can not only win and retain customers, but they are also better placed to set the agenda for mobile payments, which is where the market is ultimately heading.”
Fronde Anywheres solutions support all mobile networks and have passed rigorous security audits.
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