mFoundry Crosses 500 Client Milestone

SAN FRANCISCO, Sept. 21, 2011 /PRNewswire/ -- mFoundry, the fastest-growing provider of mobile banking services, today announced that 500 banks and credit unions in North America have now selected its mobile banking solution.

"Since we announced signing 400 clients this past June, we have seen the pace of new signings increase to more than one new client per day," commented mFoundry CEO and Co-Founder Drew Sievers. "Within the last 60 days we added more than 100 new financial institutions. It's a blistering pace."

mFoundry's success comes from its industry-leading software as a service (SaaS) mobile banking product. While mFoundry sells mobile banking services directly to many financial institutions, it is their extensive partner network—which includes FIS Global, First Data Corp., Open Solutions, CO-OP Financial Services, PSCU Financial Services, COCC, and NCR—that allows mFoundry to grow faster than any other mobile banking provider.

By leveraging direct connections into the industry's largest collection of banking cores, mFoundry's SaaS offering can quickly bring banks and credit unions to market with a robust, flexible mobile banking solution.

"Every day there are more and more financial institutions looking to offer mobile banking to their customers," noted Sievers. "And with only about 15% of the market having deployed a mobile banking solution, we believe there are still more than 10,000 financial institutions looking for a partner. Our goal is to be that partner."

Because mFoundry powers the largest hosted mobile banking platform in North America, they are perfectly positioned to quickly add innovative, ROI-generating features to their client and partner network. Unlike the offerings from many other mobile banking providers, services added to the platform become immediately available to the installed mFoundry customer and partner base.

"Many financial institutions have selected solutions that are highly-customized and nearly impossible to update," added Sievers. "We believe that enhancing only one bank with a new feature isn't worth doing unless the entire network benefits. So from the beginning, we designed our solution to be frictionless, providing the fastest path to deployment and ongoing innovation. It's a key reason we're selected by more banks and credit unions than any other company."

For more information on how banks and credit unions benefit from mFoundry's mobile banking solution, please visit: http://www.mfoundry.com.

About mFoundry

mFoundry is most popular mobile banking solution in the U.S., currently the choice of more than 500 banks and credit unions nationwide. mFoundry's mBanking product is the leading software-as-a-service (SaaS) based mobile banking solution in the market today. mFoundry's mobile banking customers include leading financial institutions, such as Bank of America, PNC Bank and Zions Bank.

In addition to its mobile banking experience, mFoundry has established itself as a leader in mobile payments, through its work with retailers like Starbucks Coffee Company. mFoundry developed and manages Starbucks Card Mobile program, the most successful mobile payments program to date, currently used in more than 6,800 stores nationwide.

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

SOURCE mFoundry