RANCHO CUCAMONGA, Calif.—CO-OP Financial Services is re-launching CO-OP Mobile.
CO-OP's mobile banking application now features optional real-time, person-to-person payments and remote check deposit capabilities for credit union smartphone users.
“Mobile banking is indispensable for any credit union competing for consideration as a member’s primary financial institution,” said Stan Hollen, president/CEO of CO-OP. “CO-OP Mobile enables credit unions to offer a leading-edge, custom-branded app tailored to the needs of their members – without the costly and time-consuming complexities involved in developing an in-house solution.”
CO-OP originally introduced CO-OP Mobile in February 2009, and explained the product has been reintroduced to take advantage of CO-OP’s new person-to-person payments network, RealPay by CO-OP, incorporating the FIS PayNet platform.
CO-OP Mobile, the company explained, is a fully customizable and configurable mobile app for credit unions, utilizing the same connection technology as CO-OP Shared Branch transactions.
CO-OP Mobile was piloted by Democracy FCU of Washington, D.C.
“CO-OP Mobile allows us to deliver more services to members through their smartphones, which is critical because surveys show 50% of adults have smartphones – and keep them handy all the time,” said Bill Cook, VP, administration, for Democracy FCU. “This version of CO-OP Mobile enables P2P payments and remote deposit capture – features of mobile banking we will be able to offer our members for the first time. It also fits well with our shared branching concept – we want to be wherever our members go, and now we will be right in the palm of their hand.
Additional features of the new CO-OP mobile include iPhone and Android apps custom-branded to the credit union; account aggregation for access to all accounts at a credit union on one app; account-to-account transfers; account history; text banking; and a back-office client portal application to monitor and manage users.
CO-OP will further roll out CO-OP Mobile as part of a free webinar taking place on Wednesday, Feb. 25, at 11 a.m. PT. Titled “Mobile Momentum: From Apple Pay to RealPay – and Beyond,” registration for the webinar is available here.