The Face of Things to Come

 Author: Dave Foss,DFoss@profitstars.com

Our mission at ProfitStars is to provide solutions that can improve the performance of financial institutions ranging from the largest banks to the smallest community institutions. With such a charge comes the responsibility to closely monitor and analyze news and events that can help prepare us for the future. There is no sure way to know who will win November’s election or what will happen with banking regulations. Our hope, of course, is that after the election season is over, banks and credit unions will have a more certain path forward for the next four years. Regardless of what happens in the election, we are fully prepared to make long-term commitments to online and mobile banking innovations. Trends regarding consumer adoption, security and payments are no longer vague, leaving us in a position to advance with confidence.

This year, Apple surpassed Exxon to become the world’s most highly valued company, and its stocks have continued to soar. The release of the iPhone 5 may slow NFC adoption, but selling about 6 million devices in the first weekend says a lot about market demand.  Today, nearly 90 percent of the U.S. population has a mobile phone, half of which are smartphones, and that trend is rising. As far as banking is concerned, an estimated 20 percent of mobile subscribers use their phone to access mobile banking services and by the end of next year, that number is expected to rise to one in three. You’ve read the headlines, the list goes on.

In an effort to help our clients best benefit from comprehensive, bundled online and mobile solutions, ProfitStars is increasing its commitment to these offerings and launching an independent solution category: Online & Mobile solutions. The lineup includes website design and hosting, Internet banking, mobile web site conversion, online security services, mobile platforms and payment processing solutions. We boast strong leadership and mature solutions in this category that continue to grow under careful guidance and consistent R&D.

To further strengthen this grouping, iPay Technologies is now iPay Solutions™, joining the ProfitStars Online & Mobile solutions lineup with its fully integrated retail bill pay, small business tools, person-to-person electronic payments, smartphone apps and more. Integrating iPay Solutions with ProfitStars is a smart, natural progression for us and one we hope will benefit the financial institutions we serve in a number of ways.

Please join me in welcoming the newly organized Online & Mobile category to our organization. Combining the efforts of so many independently successful products and services will help us address evolving business challenges both now and in years to come. Our commitment is to support you with expert talent and leading technology that boosts your bottom line and powers you ahead of your competition.  

As we complete this transition, please let us know how we can best serve your institution.