Fiserv, the US-based
end-to-end business and technology solution provider for financial
organisations, has partnered with multi-channel application tech
vendor WorkLight.

The two firms will develop
financial services apps and widgets for desktops, smartphones and
tablet computers, to help financial institutions maximise the
potential of social networking sites.

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Initially, the two
companies will focus on the delivery of lightweight, toolkit
payment applications for gifting, alerts, and donations that will
complement existing Fiserv products and services.

In time, the firms expect
to enable a broad range of solutions for banking as
well.

Erich Litch, senior
vice-president and general manager, Consumer Services, Fiserv,
said:

“As devices and means of
access proliferate, financial institutions are compelled to deliver
services to consumers wherever they are, whenever it is convenient
for them.

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“We’re helping our clients
provide financial services in new ways, through new channels, and
to go quickly to market by building and managing rich applications
using WorkLight.”

A report for Fiserv
published at the end of last year, highlighted that customers who
are connected to their lender via social media, have deeper
relationships with their financial institution.

The report said that
customers already linked or showing an interest in connecting to
their bank via social media, use an average of 5.4 banking
products, compared to 4.3 banking services for consumers who show
little interest in connecting.