Innovation

Fiserv Launches Real-Time Alerts

Fiserv real time alerts

FinTech Fiserv said on Thursday (June 23) that it has launched a platform geared toward real-time alerts, moving from financial institutions to the individuals and small business that make up client bases.

The platform, known as Notifi, takes information from FIs, collects that information into a central hub and then the alerts flow from that hub.

The customers themselves can choose the details tied to the alerts they receive, how they receive those alerts and when. Notifi, the firm stated, covers low balances on checking or deposit accounts and also notifications of suspect card transactions. The alerts can be sent via text, email or push notification through mobile banking apps. Fiserv maintains that the tailored communication cements relationships between FIs and their customers.

In a statement, Mark Schwanhausser, director of omnichannel financial services at Javelin Strategy & Research, said: “More than half of online consumers will receive financial alerts by 2019. It will be critical for banking alerts to find a way to stand out amid the flurry of notifications from social media and utility apps, like calendars, games, etc. In order to rise above the digital noise, financial institutions must focus on developing information that is relevant, immediate, digestible and actionable.”

Fiserv said that the data that is collected can come from account processing platforms, mobile banking and debit and credit cards, among other systems.

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