Yet another mobile banking solution to hit the US market –
goDough – is making solid progress, claims its developer Jack Henry
& Associates (JHA), a provider of integrated technology
solutions and data processing services for financial institutions.
Launched in November 2007, goDough has been installed by 19 of
JHA’s banking clients and is supporting subscribers of nine
nationwide mobile service carriers. Another 35 of JHA’s banking
clients are to install goDough, making the tally to date 54.
According to JHA, goDough is internet browser based, compatible
with any mobile device and carrier, and enables bank customers to
conduct transactions such as balance inquiries, funds transfers
between accounts, payments to entities other than the offering
financial institution and transaction viewing. In addition, the
platform supports all account types, including current,
certificates of deposit, money market, loans and lines of
credit.
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The goDough mobile offering is fully integrated into the three
bank transaction processing systems of JHA’s banking unit, Jack
Henry Banking (JHB), and is currently being beta tested on its
credit union processing system.
JHB’s general manager, Stan Viner, noted that the first 54 banks
to adopt goDough cited distinct reasons for offering mobile
banking. “Some of these banks view mobile banking as a proactive
strategy that enables them to meet growing customer demand, to
attract new customers and deposits, and to strengthen their
competitive positioning, while others consider mobile banking to be
a defensive strategy that responds to competitive offerings,” said
Viner.
Eddie Leal, the comptroller of one of the first banks to install
goDough, First National Bank of Edinburg, Texas, commented: “The
product was easy to install and the feedback from our customers has
been very positive.”
JHB has a client base of about 1,700 banks and savings
institutions ranging from start-ups to mid-tier businesses with
assets of up to $20 billion. This represents a market share of
about 20 percent based on the 8,600 banks and savings institutions
in this asset range at the end of 2006 as reported by banking
regulatory body the Federal Deposit Insurance Corporation.
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By GlobalDataThe entire JHA group has a client base of about 8,700 customers,
most of which are financial services organisations. Founded in
1976, JHA reported total revenue of $668 million and net profit of
$104.9 million in the year to June 2007.
