Mobile Money Ventures has sold its Web banking technology to Intuit Financial Services, which already uses the platform at more than 320 credit unions and banks, the companies said.
MMV was created as a joint venture in San Mateo, Calif., by Citi and Korea's SK Telecom to develop a mobile banking platform.
"By bringing MMV's technology in-house, IFS will now have three mobile banking pillars, native apps, text and Web banking, together under one roof. This gives us more control to better serve customers and will help us bring new mobile innovations to market faster so people and businesses can get the financial insights and services they need at any time and on any device," IFS spokeswoman Diane Carlini said on a company blog.
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