Perfecto Mobile Helps Financial Institutions Cash In on Mobile Application Strategy

Leader in mobile cloud testing and monitoring triples growth within the financial services sector; signs four out of the top five U.S. banks as customers

Perfecto Mobile, provider of the MobileCloud™ Platform and integrated mobile application quality suite, today announced a significant uptick within the banking and financial services sector, tripling its growth in this segment year over year and signing four of the top five U.S. banks as customers.

“Banks and financial institutions are just beginning to realize the full potential of mobile for consumers. By investing in the improvement of their mobile service, user experience and integrating advanced mobile technologies like quick deposits, voice recognition and secure interactions, these organizations are seeing a significant increase in online traffic, which has led to a reduction in the classic brick and mortar channels,” said Eran Yaniv, CEO, Perfecto Mobile. “Early adopters started to embed such technologies at the beginning of 2012 and we continue to see a huge acceleration in mobile innovation within this industry. Some customers started with small, local mobile projects while others made major advancements, quickly and on a global scale. With more customers conducting banking on their mobile devices, it’s critical that these institutions do their due diligence and choose the right testing partner before incorporating these features into their mobile applications and releasing them to their customers. Companies are starting to have this insight, leading to tremendous growth for our company.”

According to an infographic produced by analytics solutions provider FICO, one billion people are projected to use mobile banking by 2017. This rapid adoption and industry expansion has led to Perfecto Mobile’s year-over-year growth. Because of this significant traction, the company is working to address the industry’s very specific needs by providing a central platform to support the mobile strategy throughout the global enterprise, enforcing corporate tool sets, standards, processes, policies and governance. As pioneers in this move to support mobile, the financial industry is seeing this momentum for the following reasons:

• Mobile is a huge game changer in their move to user engagement, enabling functionality customers wouldn’t have considered using five years ago. Now, customer expectations are at an all-time high and they are looking to deposit checks, transfer funds and make payments all with their mobile device. In order to keep up with these increasing customer demands, the banking/financial industry needs to incorporate a mobile strategy that works or they will lose customers to the competition.
• Strict compliance and regulation allows no room for error. Traditionally, banking customers used an online browser-based banking system. However, with these more advanced features, come more challenges to maintain new channels across all platforms and devices. They cannot afford any exposure. For example, the copy-paste password functionality should be disabled for security reasons and when testing, this feature can vary between devices or versions.
• Zero Tolerance. When banking institutions launch a mobile application they are immediately exposed and vulnerable to its user base. Online feedback and coverage threatens with immediate punishment for any glitch.
• Risk. When managing customer’s money, there’s a heightened sensitivity and level of security needed. For this reason, it’s important that some testing be conducted on real user data, mandating very serious requirements for testing coverage, privacy and security.

Taking these key pillars to mobile testing strategy into consideration, Perfecto Mobile’s MobileCloud Platform and end-to-end mobile quality management suite is helping customers in this industry realize tremendous ROI through its robust private enterprise cloud:

A top four U.S. financial institution significantly accelerated its time to market by reducing mobile testing cycles that ranged from 16-20 days to 42 hours in various projects, a time savings of 90 percent, and an estimated $360,000 a year per project.

• A top ten global provider of banking, mortgage, investing, credit card, insurance, and consumer and commercial financial services reduced test time by 97 percent and escaped defects by 25 percent.
• Canada’s leading branchless Internet/Telephone-based bank saw a cost savings that’s equivalent to one full time employee for every three apps released.
• To learn more about the MobileCloud™ platform and its work within the banking and financial services industry, please visit: Customers

About Perfecto Mobile

Perfecto Mobile is transforming the way enterprise organizations go mobile, enabling them to develop, test, deploy and monitor their mobile applications and services and go-to-market with confidence. Perfecto Mobile’s cloud-based MobileCloud™ Platform and end-to-end mobile quality product suite enables users to remotely access a large selection of real mobile devices connected to local cellular networks around the world and leverage them throughout the mobile application delivery lifecycle – from development, functional and performance testing to monitoring and support. The MobileCloud™ is available either in an enterprise private cloud or a sharable public cloud environment.

More than 700 customers, including the top Fortune 100/500 across the banking, insurance, retail, telecommunications and media industries rely on Perfecto Mobile to optimize mobile time-to-market, customer engagement, risk mitigation and costs and continuously serve their mobile users with confidence.

For more information on how Perfecto Mobile can help you confidently test, deploy and monitor your mobile applications, visit www.perfecto.io and follow us on Twitter: @PerfectoMobile.

Media Contacts

Kristine Englert
Marketing Communications
[email protected]
1-339-927-7435 @perfectomobile

PAN Communications
Nikki Festa
[email protected]
617-502-4300