New Fiserv Platform Helps Banks Provide Real-Time Alerts
Fiserv has created Notifi, a technology that will allow financial institutions to provide real-time actionable alerts to their customers. These alerts include everything from low balances to pending loan payments to suspicious credit card transactions.
Notifi consolidates information from across a bank’s systems and distributes alerts automatically. Customers can choose what types of alerts they wish to receive, and decide whether they want to receive notifications via email, text, a secure online inbox or push notification from their mobile banking app. Notifi also allows them to take action directly from the alerts, which can save valuable time in the case of an emergency.
Early adopters have cited the security benefits of Notifi as the primary benefit of the alerts. They believe the alerts will help customers discover fraud faster, which will help them prevent unauthorized charges.
“More than half of online consumers will receive financial alerts by 2019,” said Mark Schwanhausser, director of Omnichannel Financial Services, Javelin Strategy & Research. “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.”