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Mobility Matters – Tracking the Mobile Banking Revolution: Online Only

Mobility Matters is by veteran tech reporter Robert McGarvey. This week's topics include mobile launches, RDC fees, PayPal dongles and the Fed on mobile banking.

By Robert McGarvey | Updated on March 21, 2012
The PayPal dongle.

Credit Union Mobile Banking Debut of the Week: “Our goal is simple: we are creating services to attract Gen Y,” said Kabir Laiwalla, CEO of Platinum Federal Credit Union, a $35 million institution based in Liburn, Ga.; it has around 6000 members. Laiwalla said Platinum has closed two branches in recent years – “We just did not see the potential to grow membership in those areas.” But, between mobile and online banking, “we can bring services to our members wherever they are.”

Platinum implemented a Sharetec mobile banking app, said Laiwalla, who explained that Platinum also runs on a Sharetec core. “I wanted to stick with one company. If we have a problem, it is their problem to fix,” he said. He added however that rollout was frictionless, without problems, and within a few weeks of introduction more than 12% of Platinum’s home banking users had signed up for mobile banking.

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