Banking and payments technology solutions provider Fidelity National Information Services (FIS) increased their stake in mFoundry, one of the most popular mobile banking vendors in the US.
The two companies have been working together on mobile banking solutions over the past several years, already serving more than 200 financial institution clients. Just a few months ago, mFoundry received $18 Million in growth capital by FIS, MasterCard, Intel Capital, and Motorola Mobility. According to the company, the recent investment will help to combine FIS’ position in financial services technology with mFoundry’s mobile banking products. mFoundry also recently announced a strategic partnership with MasterCard to push NFC-enabled mobile payments solutions.