WesCorp is nearing launch of a new mobile banking solution the corporate says will make the service more affordable by delivering it directly from a credit union's core processing system.
The hosted solution will eliminate the "middle men" involved in "expensive electronic payment systems rails" and make mobile banking affordable for small and mid-sized credit unions that now can't afford the increasingly vital service, the corporate said.
The solution was developed in-house and is now undergoing testing at a Southern California credit union. It is expected to be offered to other credit union in about two months, WesCorp said.
The service operates independent of a credit union's online banking solution and will initially offer basic mobile functionality. The corporate declined to specify which core processor its mobile solution will work with first but said it is used by most of its more than 900 member credit unions and that more platforms and functionality will be added later.
"We believe our mobile solution will turn the tables within our industry, giving all credit unions an ability to harness its many benefits and value," said Tony Kitt, WesCorp's executive vice president for member services.