In today’s economic environment, it is critical for financial executives and business owners to have full access to financial information at all times and through multiple channels, including mobile. Many banks recognize commercial mobile banking as a growing trend, but are still slow to roll out the service to business customers. For banks offering mobile banking to businesses, most have simply re-packaged consumer applications for business use, but consumer applications do not provide businesses with the added functionality and enhanced security capabilities required.
Online Banking Solutions (OBS) recently launched the industry’s first-ever commercial mobile banking offering, Messenger Mobile Services, a new mobile channel to support commercial banking transactions for banks’ business customers. In addition to TEXT/SMS notifications, users can view account balance, transaction information and special reports; initiate account-to-account transfers, pre-defined payments or payment batches; and receive service alerts, payment advices and urgent notifications.
The new Mobile Banking Channel complements other channels by allowing users to view account information, initiate payments, and receive notifications and alerts while away from their computer.
As an extension of Online Messenger, Messenger Mobile Services are an ASP-based service available through the OBS high-availability production data center site.
The following products and features supported on Apple iPhone, Research in Motion Blackberry (OS version 4.2 and newer), and Google Android platforms. OBS continually monitors new mobile device introductions and adoption and adds support for new devices according to our interpretation of mobile product viability, applicability to small business and corporate banking, and demand.
Products and Features include:
- Information Reporting
- Previous day / Batch-based
- Current day / Real-time-based
- Stop Payment
- Account Transfers
- Transaction initiation
- Transaction approval
- Alerts and Notifications
- Positive Pay
- Exception item notification
- Review / decision item
- Wire Transfer
- Recurring / repetitive transaction initiation*
- Transaction approval
- ACH
- Recurring batch initiation
- Batch approval