Credit Union Offers Account Access on Facebook

Publié le 23 novembre 2007 par Finextra

0711

KeyPoint Credit Union has teamed up with U.S m-banking software firm MShift to develop an application that enables customers to access their Web accounts from within Facebook.

Silicon Valley-based KeyPoint, whose customers work at high-tech firms such as Apple, says it is the first financial institution to offer account access via Facebook.

KeyPoint’s application provides customers with one-click access to their online bank account information. The credit union says that all account information data is encrypted and that no user data is stored on Facebook’s servers.

The application provides users with information about KeyPoint and includes a social forum for the credit union’s members. It was developed using MShift's m-banking software as well as a Facebook application programming interface (API) which enables companies to integrate applications with the online social networking site.

"Our current membership is significantly younger and more globally mobile than the typical credit union member,” says Juli Anne Callis, KeyPoint’s Executive Vice President. “That means we need to be out there scouting for ways to offer convenience to our existing members or risk losing them.”

Callis says that a good way to make a difference in the highly commoditized retail banking market is to link Web banking services to online social networking platforms.

In August 2007, TD Canada Trust, one of Canada’s top six banks, introduced an application on Facebook that enables roommates to track and manage how they split household bills.