The credit union will use Tyfone’s u4ia platform to deliver a ‘standard’ mobile banking service but, says OnPoint, “Tyfone’s unique secure memory card technology gives us exceptional flexibility to deliver some very exciting new member services down the road.”
OnPoint Community Credit Union, Oregon’s largest credit union with more than US$2.8bn in assets and 200,000 members, has selected Tyfone’s u4ia platform as the infrastructure behind its mobile banking strategy. To begin with, the credit union will launch a range of ‘standard’ mobile banking services. MicroSD-based NFC contactless mobile payment capabilities are set to follow.
The decision to go with Tyfone for its new service was made after the credit union decided earlier this year to follow an aggressive mobile banking strategy.
“We set out to find a proven technology partner offering a full suite of mobile banking capabilities, plus we wanted a flexible, modular architecture and experienced professional services to help us implement our strategy,” says Jim Armstrong, OnPoint’s senior vice president of technology.
“Tyfone came through with a comprehensive platform that exceeded our requirements, but their integrated NFC contactless mobile payment capabilities were what really sold us. No other vendor on the market offers both capabilities, and Tyfone’s unique secure memory card technology gives us exceptional flexibility to deliver some very exciting new member services down the road.”
“OnPoint recognizes that offering their members mobile financial solutions is a critical strategy to build on their pre-eminent position in the marketplace,” says Thomas Spitzer, Tyfone‘s chief executive officer. “Being able to offer everything from secure mobile banking to mobile payments will enable us to partner with them for the long term.”