photo by Michael Miller

Micronotes Offers Cross-Sell Solution Through mFoundry's New Mobile Banking Platform

Digital Cross-Selling Pioneer Joins mFoundry's Service Provider Network

 

SAN FRANCISCO & CAMBRIDGE, Mass., Oct 10, 2012 (BUSINESS WIRE) -- Banks and credit unions now have another way to generate top-line revenue by improving the productivity of their cross-selling initiatives through a partnership announced today by Micronotes and mFoundry.

Micronotes, a premier provider of cross-selling solutions to financial institutions, offers mobile banking consumers individually tailored promotions if their institution has deployed Fin.X from mFoundry. Fin.X is the next generation mobile banking platform from mFoundry, North America's leading provider of mobile banking and mobile payments.

Micronotes identifies the individual preferences of consumers through big data analytics coupled with a short series of opt-in interview questions and then delivers highly targeted promotions offering attractive, relationship pricing on everything from checking accounts to mortgages. Financial institutions that want to start interviewing their mobile banking customers can do so by simply checking the Micronotes Mobile(TM) option on mFoundry's mobile banking platform, and the feature will appear on their institution's smartphone application.

"Increasing share of wallet and mobile banking are top priorities for financial institutions," said Devon Kinkead, founder and CEO of Micronotes. "Micronotes Mobile(TM) does the heavy-lifting in cross-sell prospecting for financial institutions by reducing spam by 5X(1) and improving offer relevance by 10X(2). By offering Micronotes through mFoundry's Fin.X mobile banking platform, financial institutions generate more warm leads faster, and bank customers get more out of their primary banking relationship by benefitting from relationship pricing."

A hosted, cloud-based solution, mFoundry's Fin.X enables financial institutions to deliver significantly more mobile banking features to smartphones and tablets through an advanced, extensible architecture and a newly created, best-in-class Service Provider Network. By adopting mFoundry's Fin.X, institutions can provide a mobile banking experience that delivers the industry's widest choice of services, including remote deposit capture, peer-to-peer money transfer, account funding, mortgage rates, auto insurance quotes, account opening, gift card issuance, merchant funded offers, and retail bar-code scanning, among other features. mFoundry's new platform packs up to $100 of incremental per user revenue each year.(3)

"Micronotes is a powerful lead generation engine that helps financial institutions improve cross-selling by delivering relevant, actionable offers to mobile banking customers right on their smartphone," said mFoundry CEO Drew Sievers. "Micronotes is another significant revenue opportunity for financial institutions and is one more way mFoundry is helping banks turn mobile into their most profitable channel."

About Micronotes

Micronotes is a digital sales company that partners with financial institutions and their customers to radically improve the productivity of cross-selling online using big data analytics and one-on-one interviews. Micronotes is headquartered in Cambridge, Massachusetts. www.micronotes.com .

About mFoundry

mFoundry is North America's leading provider of mobile banking and mobile payments services. The leading software-as-a-service (SaaS), cloud-based mobile banking offering, mFoundry works with more than 800 banks and credit unions nationwide, including Bank of America, PNC Bank, Zions Bank and more than one-third of the top 50 financial institutions in the U.S. mFoundry was behind the nation's largest, and most successful mobile payments program: Starbucks Card Mobile. mFoundry is headquartered in Larkspur, California, with offices in downtown San Francisco. For more information, visit http://www.mfoundry.com .

(1) Comparing mortgage model accuracy to untargeted digital marketing

(2) Microinterviews produce 10+ customer segments in 27 seconds, each segment receiving a unique offer.

(3) mFoundry proprietary data and forecast based on actual client experience

SOURCE: mFoundry