You know that image of the credit union: a lonely branch in a less-than-glamorous location with about the vitality of an autumn leaf.
Well, forget that image. Fiserv yesterday disclosed that the 150th credit union has signed up for its Mobile Money product, and that news offers yet more evidence that credit unions are not sleepy institutions any longer.
Mobile Money offers mobile payments and banking applications for FIs. The product can be deployed in a hosted or ASP environment. One credit union reported 313 signups for Mobile Money in the first three months of its availability. I wouldn’t call that number remarkable, but it is obviously a positive for a small credit union.