Fiserv Clients recognized for mobile banking and biometric innovations
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Fiserv, a leading global provider of financial services technology solutions, announced today that its clients Bangkok Bank and Gesa Credit Union were recognized for their innovative use of technology by Retail Banker International (RBI) at the Retail Banking Conference and Awards 2017.
Thailand’s Bangkok Bank won Best Mobile Banking Strategy for delivering ‘everyday, everywhere’ banking to its customers with Mobiliti Edge from Fiserv. Gesa Credit Union, located in Richland, Washington, won Retail Banking Security Innovation of the Year for pioneering the use of biometrics in their branches with Verifast™: Palm Authentication from Fiserv.
The Retail Banking Awards by RBI highlight the achievements of retail banking organizations throughout the past year. Award winners are highly regarded within the industry as top performers representing an exceptional level of achievement.
“These awards are a testament to the vision of Bangkok Bank and Gesa Credit Union, both of which are powerful examples of financial institutions that are using technology innovation to deliver experiences that fit seamlessly into people’s everyday lives,” said Andrew Steadman, vice president, Product Management and Marketing, International Group, Fiserv.
Further details of the winning entries include:
Best Mobile Banking Strategy Award – Winner, Bangkok Bank
“Additionally, the bank added mobile peer-to-peer (P2P) payments and advanced push notifications and alerts that can be received directly through the app.”
With fast-growing smartphone adoption in Thailand and the rising demand from customers for on-the-go banking tools to complement their mobile lifestyles, Bangkok Bank has been continually adding new functionality to its mobile banking proposition, Bualuang mBanking. With Bualuang mBanking, which is built on the Mobiliti Edge mobile banking and payments platform from Fiserv, Bangkok Bank customers have the ability to access financial services via a mobile phone, tablet or the Apple Watch. Additionally, the bank added mobile peer-to-peer (P2P) payments and advanced push notifications and alerts that can be received directly through the app.
Almost one year after launching the P2P service and other enhancements of the user experience, the average payment transaction volume per month increased by 350 percent and revenue increased by 300 percent.
Retail Banking Security Innovation of the Year – Winner, Gesa Credit Union
Gesa Credit Union piloted the use of Verifast: Palm Authentication, a fast, secure and convenient biometric authentication solution based on near-infrared scanning of an individual’s palm vein patterns. Gesa reduced the time to authenticate a member in the branch by 93 percent, speeding up the teller line while enhancing security and improving the customer experience. On a 1-to-5-point scale with 5 being the best, about 99.9 percent of Gesa members using the solution rated the palm vein technology a 5 on both the registration process and use.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life.
Questions & Answers
Q.Which specific Fiserv products were recognised in the awards?
Which specific Fiserv products were recognised in the awards?
Fiserv's Mobiliti Edge platform was used by Bangkok Bank for their mobile banking strategy. Gesa Credit Union used Fiserv's Verifast™: Palm Authentication for their security innovation.
Q.What improvements did Bangkok Bank see after implementing its mobile banking enhancements?
What improvements did Bangkok Bank see after implementing its mobile banking enhancements?
After launching P2P services and other user experience enhancements, Bangkok Bank experienced a 350 percent increase in average monthly payment transaction volume. Their revenue also saw a 300 percent rise.
Q.How did Gesa Credit Union's biometric solution benefit their branch operations?
How did Gesa Credit Union's biometric solution benefit their branch operations?
Gesa Credit Union reduced the time needed to authenticate a member in a branch by 93 percent. This sped up teller lines, improved security, and enhanced the overall customer experience for members.
Q.How did members react to Gesa Credit Union's palm vein technology?
How did members react to Gesa Credit Union's palm vein technology?
Approximately 99.9 percent of Gesa members using the solution rated the palm vein technology a 5 out of 5 for both the registration process and its general use, indicating high satisfaction.
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