Synergy extends Fronde mobile banking offer

Media Release 30 August 2006

IT company Synergy International has launched an expanded suite of mobile banking solutions which deliver a robust, ultra-secure, flexible platform that lets banks offer a tailored mobile banking service with increasing levels of functionality.

Marketed as Fronde Bank Anywhere, there are three products in the suite. Fronde SmartBank is the premier product in the range, and allows bank customers with Java-capable mobile phones to do real-time 24/7 transactional banking, such as paying bills or transferring funds. Fronde TXTBank provides bank balances and some transaction information via SMS, while Fronde BankAlert sends SMS notifications to customers of deposits to accounts or when a nominated account balance has been reached.

New Zealand bank Kiwibank is the first major bank to offer its customers the Fronde SmartBank service, which Kiwibank will market as ‘Mobile Banking’. Kiwibank CEO Sam Knowles says “Mobile phones are the way young people communicate and it’s clear that they want access to their bank accounts anywhere and anytime. Paying a bill, transferring funds, or making a deposit to someone’s account is as close as the mobile phone, giving our customers fingertip control over their finances and the choice and freedom to bank at any time and in any place.”

Synergy CEO Jim Donovan says mobile technology is the next big thing and is picking up from where the Internet has left off. "We have seen how the Internet revolutionised business and personal life, and over the next ten years mobility will have an even bigger impact, with many services delivered to the end-customer directly via their mobile phone. Mobile banking is a key application, setting the stage for mobile transactions and payments to become even bigger than card-based EFTPOS," says Mr Donovan.

Security is paramount in mobile commerce, and the Bank Anywhere security features include 128 bit SSL encryption, embedded two factor authentication and session management identifiers, which gives unparalleled protection to both the bank and its customers. Bank Anywhere integrates easily with existing phone and Internet banking systems and infrastructure, and is GSM and CDMA compatible.

Synergy designs, builds and operates industrial-strength business transaction and payment systems and services, with clients in Australasia, East Asia, Europe and North America. It has over 200 staff based in Auckland, Wellington, Singapore and London. Its Fronde Transactions Anywhere product family offers mobile commerce solutions encompassing banking, telecommunications, transportation and customer relationship management.