As part of the project, CoVantage Credit Union is expected to implement a suite of mobile wallet services to provide its members with mobile financial services. Tyfone`s u4ia platform is a memory card-based mobile payments solution with integrated NFC chipset, controller and integrated antenna for mobile contactless payments. The technology operates in any standard memory card slot and is compatible with both GSM and CDMA phones.
As a result, credit union members are expected to be provided with a mobile banking service that includes an account aggregation option, in order to view and manage multiple accounts in a centralized place, as well as a secure ID management via its Multi Factor Authentication (MFA) technology. In addition, the service is set to provide users with NFC payments and mobile remote deposit capture services.
CoVantage has 9 branches located throughout Wisconsin and Michigan in the US, and over USD 900 million in assets. The company counts 64,000 members.
In recent news, Tyfone has inked a contract with US-based Star One Credit Union to deliver its mobile banking services to the latter’s members.
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