Fiserv announced that Intracoastal Bank, a $266 million financial institution with offices in Palm Coast and Daytona Beach, Florida, has enhanced its small business banking services with the addition of Mobiliti Business™, a mobile banking solution designed for the unique needs of businesses.
Intracoastal Bank has successfully differentiated itself in a crowded and competitive market by offering technologically advanced solutions combined with exceptional service, which has resulted in substantial growth since the institution opened in 2008.
The bank, which serves both retail and business customers, already offered Mobiliti™ and Mobiliti: Tablet for retail customers, and has now added Mobiliti Business to meet the needs of busy small business owners and staff who are increasingly working remotely and relying heavily on their smartphones. As a private bank, Intracoastal focuses on serving highly sought after businesses such as doctors, lawyers, accountants and real estate agents. Innovative technology is a must in competing for and serving these customers.
“Our focus on offering innovative technology combined with excellent customer service has allowed us to stand out among not only other community banks, but also the larger regional and national banks in our market,” said Cheryl Tanenbaum, Chief Financial Officer, Intracoastal Bank. “We chose to work with Fiserv because they have the best technology available, and that’s what we want to offer to our customers. Intracoastal Bank is invested in our customers and our community, and adding Mobiliti Business allows us to provide an additional service that is in step with the way people live and work today.”
According to a recent report from Raddon, a Fiserv company, nearly half of small businesses are using mobile to add a new dimension to their day-to-day operations, including on-the-go approvals and decision making. Also, commercial clients, especially younger ones, are looking for the convenience and 24/7 accessibility provided by mobile banking. Mobile banking is used by 66 percent of millennial-led businesses, and 58 percent of firms led by members of Gen X.
Mobiliti Business is a comprehensive, secure and easy-to-use solution that delivers mobile banking and payment services to small and mid-sized businesses via downloadable apps for iPhone® or Android™ devices. The solution enables users to approve ACH and wire transfers, receive push notifications when action is required, transfer funds via templates and complete other business-specific tasks.
Mobiliti Business integrates with the bank’s existing Business Online™ and CheckFree® Small Business bill pay solutions, and complements additional business banking services such as Merchant Source Capture™ for digital check capture, RemitStream® for check and remittance processing, WireXchange® and Positive Pay. All Intracoastal Bank customers can utilize AccountCreate(SM) for online account opening and LinkLive Banking for live chat. Intracoastal Bank utilizes the Premier® account processing platform from Fiserv.
Intracoastal Bank stands out not only because of its focus on offering innovative technology, but also because of their focus on educating customers on how to use it and how it can benefit them. The bank has an online education center with easily accessible and understandable demos, and the Volusia County Banking Center features a technology bar where customers can try out services. Both Intracoastal locations are staffed by universal bankers who are cross-trained to provide demos and tutorials, ensuring that bank customers optimize their use of tools like Mobiliti Business.
“With Mobiliti Business, Intracoastal Bank is providing the capabilities its customers need to keep business moving, even when they are away from their desks,” said Teri Carstensen, president, Bank Solutions, Fiserv. “Intracoastal Bank’s focus on providing customers with innovative technology has contributed substantially to its tremendous growth, and we look forward to continuing to partner with the bank to deliver the customer experiences that set it apart.”
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today - financial services at the speed of life. Learn more at TheSpeedofLife.com.