Desert Schools Federal Credit Union has adopted UK-based Monitise’s Vantage 5.1 next-generation mobile banking platform technology for the frequent and rapid delivery of value-added features and mobile wallet capabilities.
Monitise said that its mobile banking platform will allow credit unions and banks to meet their member needs at minimum time-to-market and cost.
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Vantage 5.1 offers Bank Anywhere mobile capabilities and enable Pay Anyone and Buy Anything services to generate new revenue streams.
According to Monitise, the benefits of Vantage 5.1 will include Hybrid cloud, on-premise architecture; modular components; and advanced user experience and design.
Desert Schools, the largest credit union in Arizona, reports that mobile users are two times more profitable compared with traditional banking members, and are averaging 46 interactions a month with the mobile banking application.
Desert Schools Federal Credit Union chief information officer, Peter Farrow, said: "Mobile is the future of our relationship with members and being able to update specific components of our mobile platform allows us to deliver a differentiated experience that improves member retention and loyalty, while also attracting new ones.
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By GlobalData"Our members have been quick to adopt new mobile features. Monitise’s Vantage platform is allowing us to capitalise on the mobile opportunity and deliver fast and frequent updates to an application that members desire."
