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Press ReleaseBB&T Selects ClairMail-mFoundry for Triple Play Mobile Banking and Payments Joint SolutionBB&T to offer integrated suite of mobile banking services as first customer of new ClairMail-mFoundry partnership WINSTON-SALEM, N.C., NOVATO, Calif., and SAUSALITO, Calif. October 16, 2007 — Winston-Salem-based BB&T Corporation (NYSE: BBT) today said it has partnered with two California-based mobile banking and payment providers to offer one of the industry's most comprehensive mobile banking services. BB&T's three-phase rollout of the new service is set to begin next month and is expected to be completed in the first quarter when a full menu of mobile banking options will be available to BB&T clients. The services include two-way mobile messaging, mobile Web access and mobile banking applications. BB&T is the first customer of a newly-formed partnership between ClairMail Inc. of Novato, Calif., and mFoundry of Sausalito, Calif. Under the terms of the partnership, the companies will co-market and sell an enhanced, combined solution which integrates the ClairMail System's mobile banking and payments platform and applications with mFoundry's Spotlight client-based application- delivering with a single implementation all three user interface types available for mobile banking, commerce and payments. BB&T, the nation's 11th largest financial holding company, is the first financial institution to purchase the combined solution. "We selected the partnership between ClairMail and mFoundry because their cutting-edge approach allows BB&T to use the leading mobile messaging, mobile Web and application solutions with a single integration," said Barbara Duck, BB&T's Electronic Delivery Channels Manager. "We are passionate about providing our clients with better value through rational innovation in a highly profitable manner." The ClairMail/mFoundry solution will empower BB&T to provide its customers with banking functionality via a mobile application and integrated messaging services. The joint solution will securely and cost-effectively integrate with BB&T's systems of record and enable a broad set of 2-way services - including account management, fraud mitigation, and no-hold customer service. Additionally, the ClairMail platform's alerting engine will integrate with BB&T's core systems to enable user-defined 2-way actionable alerts. BB&T customers will be empowered to set preferences for the type (e.g. low or zero balance, overdraft or cleared check alerts), frequency (e.g. automatically receive balances at the end of the day or week) and threshold (e.g. alerts when withdrawals or deposits exceed a specified amount) of alerts, and receive them in real-time. Given the 2-way nature of actionable alerts, BB&T customers will be able to resolve issues using their mobile phone, such as to transfer funds in response to a low balance alert. The ClairMail/mFoundry solution supports the "triple play" of all user interface types available for mobile banking and payments. ClairMail developed the industry-standard messaging and mobile web applications that run on its platform using the software already built into virtually every mobile phone. The ClairMail platform also provides the integration, management and 2-way functionality to extend the capabilities of client applications like mFoundry's. mFoundry's leading Spotlight Financial Platform gives consumers access to full online banking functions with security on par with web banking best practices. The Spotlight mBanking application enables consumers to check account balances, view transactions, transfer funds and locate branches or ATMs. The joint solution offers speed to market, flexibility and customization, making it appealing to financial institutions of all sizes. "mFoundry's mBanking application has been selected by leading banks and wireless operators around the globe for its rich functionality, strong security and easy distribution and maintenance," said Joseph Salesky, CEO of ClairMail. "We are thrilled to bring together mFoundry's Spotlight Platform and the ClairMail System to enable the triple play of user interfaces for BB&T." "ClairMail's platform combined with our Spotlight mBanking solution answers an industry need," said Drew Sievers, CEO of mFoundry. "mFoundry's feature-rich application combined with the ClairMail messaging, mobile web and 2-way capabilities will give BB&T one clear and easy solution." "Celent advises banks to consider a multi-pronged mobile banking strategy," said Red Gillen, Senior Analyst of Celent. "The combination of the ClairMail System's 2-way messaging and mobile web capabilities with mFoundry Spotlight mBanking application will empower financial institutions to provide their customers with the highest levels of usability, speed and convenience." About BB&TWith $127.6 billion in assets and more than 1,500 financial centers in 11 states, Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) is the nation's 11th largest financial holding company. More information about the company is available at BBT.com. About mFoundrymFoundry is an award-winning mobile application platform provider. mFoundry's Spotlight Financial Platform offers a complete financial services solution for financial institutions, wireless carriers and their customers. Spotlight incorporates mFoundry's leading mobile banking & payments product into the platform and has been adopted by some of the largest banks and carriers in the US. mFoundry is based in Sausalito, California and has been recognized as one of "10 Emerging Wireless Players to Watch" by IDC and one of "Ten Tech Companies to Watch" by Bank Technology News. For more information, please visit http://www.mfoundry.com. About ClairMailClairMail optimizes any mobile phone for two-way customer interaction. Only the ClairMail System offers mobile banking and payments applications that utilize any phone's existing messaging and mobile web software and extend the capabilities of third-party native client applications. On one platform with a single implementation, ClairMail empowers financial institutions to provide their customers with easy and immediate two-way access to secure information, account management, no-hold customer service and Actionable Alerts™. Unlike other proprietary and inflexible point solutions, the ClairMail System is a turnkey, standards-based offering that seamlessly and securely integrates with existing systems, delivers the fastest time to value and provides an alternative to more costly channels like call centers and IVR. Founded in 2004, ClairMail is headquartered in Novato, Calif. The company is privately held and funded by Norwest Venture Partners, Outlook Ventures and JAFCO Ventures. For more information call (415) 884-7270 or visit www.clairmail.com. For media inquiries, please contact:LaunchSquad |
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