FIS and mFoundry Strengthen Strategic Relationship

Published on Monday, 30 January 2012 09:26 Written by TradersHuddle Staff

FIS Expands Relationship, Increases Stake in Mobile Financial Services Leader

SAN FRANCISCO, Jan. 30, 2012 /PRNewswire/ -- mFoundry, the fastest-growing provider of mobile banking and payments solutions, today announced that it has strengthened its strategic relationship with FIS™, the world's largest provider of banking and payments technology.

With a recent investment, FIS increased its ownership holdings in mFoundry. The two companies have been working together on mobile banking solutions for the past several years, serving more than 200 financial institution clients. The enhanced relationship will continue to combine FIS' strong position in financial services technology with mFoundry's award-winning mobile banking products.

"For the past few years, we have worked very closely with FIS to create the best mobile banking experience in the industry," commented mFoundry CEO and Co-Founder Drew Sievers. "We continue to invest heavily in enhancing our mobile banking product, but also are very excited to help FIS support its customers with a robust mobile experience."

Recently, Javelin Strategy & Research announced that FIS received top scores in its Mobile Banking Vendor Scorecard. The same study also rated mFoundry as the winner of the "Path to Mobility" award, recognizing mFoundry's leadership in Mobile Payments. 

"With several years of combined success, we have an industry leading mobile platform," said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. "We are excited to continue our work in developing solutions that advance mobile capabilities to the next level."

About mFoundry

mFoundry is the most popular mobile banking vendor in the U.S., currently the choice of nearly 600 banks and credit unions nationwide. mFoundry's mBanking product is the leading software-as-a-service (SaaS) based mobile financial services platform in the market today.

mFoundry is the only mobile banking vendor with proven market expertise in mobile payments, having developed and managed Starbucks Card Mobile, the first and most successful mobile payments program in the country. The company also recently announced a global strategic partnership with MasterCard to deliver NFC-enabled mobile payments solutions to its customers.

MasterCard adds to mFoundry's unmatched network of financial services technology companies that includes FIS, First Data, NCR, PayPal, Open Solutions, The CO-OP, PSCU Financial Services and COCC. mFoundry also has strategic alliances with mobile leaders Intel Capital and Motorola Mobility.

mFoundry was founded in 2004 by Drew Sievers and Rodney Aiglstorfer. The company is headquartered in Larkspur, California, and also has offices in downtown San Francisco. For more information on mFoundry, please visit http://www.mfoundry.com.

About FIS

FIS (NYSE: FIS) is the world's largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 33,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is ranked third on the Barron's 500, 426 on the Fortune 500 and is a member of Standard & Poor's 500® Index. For more information about FIS, visit www.fisglobal.com.

SOURCE mFoundry