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Run The Red Develops Mobile Banking For PSIS

Run The Red Develops Mobile Banking For PSIS

From Wednesday 1 September, PSIS customers will be able to access a range of banking services via their text capable mobile phones, using a platform designed and built by Run The Red.

Run The Red Director Justin Boersma said the SMS-based service was the most comprehensive mobile banking service seen in New Zealand.

“SMS is one of the most widely used technologies and will appeal to a growing segment of the market who are increasingly using mobile devices to conduct a host of everyday activities,” said Justin Boersma.

For example, once a PSIS customer has registered they can then text 8484 to receive the balance of their accounts. Or they can transfer money from one of their accounts to another.

Customers can also suspend or cancel the banking service from their mobile phones if, for example, they want to lend the phone to someone else. Or they can text help for more information.
Dr Girol Karacaoglu, PSIS Chief Executive said the launch of the service was part of an effort to broaden the appeal of the financial services co-operative among younger people by providing banking services through a channel they were comfortable in using.

“We also want to differentiate ourselves from some of our larger competitors through the innovative use of technology to enhance the banking experience for our customers,” said Dr Karacaoglu.

“PSIS customers now have the ultimate in flexibility to access their PSIS account information wherever and whenever they want via their text capable mobile phones,” said Dr Karacaoglu.

While improved customer service was one driver for the project, there are other benefits, including the potential to reduce costs associated with customers using ATMs and making 0800 calls to PSIS’ telephone banking service.

“Reducing costs means we can keep fees as low as possible and deliver a better service to our customers,” said Dr Karacaoglu.

The banking service will be available to customers on the Vodafone or Telecom networks.

Run The Red’s SMS platform RED-Connect was customized to meet the specific requirements of PSIS and the company worked with PSIS partners Unisys and Deloitte on security and risk management. PSIS were satisfied with the level of security in the solution infrastructure and application based on assurance obtained from a detailed review performed by Deloitte.

“We have enjoyed working with PSIS on this project. Run The Red has invested considerable time and resources developing a robust, secure, easy to use and cost effective SMS platform.

“It is a pleasure to work with partners that are prepared to lead the market and share our vision of using mobile technology in new and innovative ways,” said Justin Boersma.

Run The Red is a Wellington-based company with offices in Auckland. It specialises in mobile technology and has positioned itself primarily as a service partner to the mobile information market.

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