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ClairMail offers mobile banking to Intercredit Bank

Florida-based Intercredit Bank N.A. is using the services of ClairMail Inc. to offer residents of the famed Miami-Dade and Broward counties a mobile banking and payments option.

ClairMail's service works on all mobile phones and supports all three mobile user interface types with its two-way mobile banking and payment services. Intercredit Bank currently offers banking services through branches, online and remote deposit.

"Our solution offers messaging, mobile Web and client applications, while all other [service providers] only offer one," said John Aquino, marketing communications manager at ClairMail, Novato, CA.

"ClairMail's solution appeals to different customer groups," he said. "For example, texting appeals to the younger set, the mobile Web appeals to customers who already bank online and the client applications appeal to users who are concerned the most with security and the higher-income set."

The ClairMail System works on a platform with a single execution. The company claims to securely integrate with a financial institution's systems of record.

ClairMail's Event Engine can process hundreds of thousands of transactions every minute from Intercredit Bank's back-end systems, including credit card and core processing.

Also, the Event Engine offers numerous alert types that customers can opt-in to receive. Alerts include when balances get low or reach zero, a payment requires authorization, a deposit or withdrawal exceeds a threshold amount, a check clears, an overdraft occurs or a user ID or password changes.

Customers can set preferences for the alerts they receive, such as when and how often they receive alerts and if they want the alerts to be SMS or email.

Because the ClairMail System is two-way, Intercredit Bank customers can transfer funds and respond to alerts.

"Mobile banking and payments are predicted to be big by the end of the year," Mr. Aquino said. "We are seeking to help financial institutions accelerate customer adoption."