SAN RAFAEL, CA--(Marketwire - February 1, 2011) - ClairMail, Inc., the leader in mobile banking and payment solutions, announced that it ended 2010 with an impressive 234 percent year-over-year revenue increase. Throughout 2010, ClairMail gained notable market leadership through innovative advancements to its mobile banking platform and partnerships with leading mobile payment and marketing vendors. With this success and momentum, the company catalyzed record-setting mobile banking end-user adoption numbers and dramatically increased mobile banking and payment transactions with its growing Financial Institution (FI) customer base, which includes eight of the top 12 North American banks.
In October 2010, ClairMail released a mobile banking industry report from leading analyst research firm TowerGroup, Lessons Learned: Eight US Financial Institutions Reveal Mobile Banking Benefits, which predicts that mobile banking will grow from 10 million active users in 2009 to a projected 53 million in 2013. ClairMail's 553 percent year-over-year increase in end-user adoption numbers aligns with this estimated mobile banking adoption pattern. In addition, the company experienced a 253 percent increase in the number of mobile banking transactions throughout the year, with more than 170 million transactions in total.
"Mobile banking is outgrowing its status as a 'nice to have' innovation and is emerging as a mainstream offering for banks of all sizes," said George Tubin, senior research director at TowerGroup, a Corporate Executive Board company. "Despite current economic pressures generally depressing the bank technology market, the momentum behind mobile banking services shows no signs of slowing. Adoption and usage are increasing faster for mobile banking than any other channels in the history of banking."
ClairMail's continued momentum in 2010 was driven by the introduction of new mobile banking platform features and partnerships. This included the launch of its mobile connectivity architecture (MCA), a platform to help FIs future-proof their mobile delivery channel powered offerings, new international mobile banking product capabilities, a partnership with CashEdge, Inc. to provide FIs with a seamless P2P payments experience, and a partnership with Cardlytics to bring transaction marketing capabilities to the mobile banking market. Additionally, ClairMail expanded its mobile Web experience to Android and BlackBerry devices and in October, the company announced a $13.8 million late stage round of funding led by Investor Growth Capital (IGC). Existing investors JAFCO Ventures, Norwest Venture Partners and Outlook Ventures also participated in the round.
"Our revenue growth throughout 2010 was a result of our strong mobile banking offerings, new product advancements and world-class customer base," said Pete Daffern, ClairMail CEO. "2010 was a record breaking year for the mobile industry as a whole, yet many financial institutions focused simply on implementing a mobile banking solution to provide a new route to their established online banking products. We see 2011 as the year to partner with our customers to help them unlock the full potential of the mobile channel, using the technology as a way to drive key strategic initiatives to generate new revenue streams, reduce costs and increase customer engagement."
About ClairMail, Inc.
ClairMail is the leading provider of mobile solutions for banking, payment and card services. ClairMail provides a technology platform designed to help financial institutions realize the strategic potential of mobile banking, driving new levels of customer trust and loyalty, facilitating cross-sell opportunities and enabling near term, measurable cost savings. Financial institutions of all sizes now have an opportunity to reach 100% of their customer base and proactively deliver personalized content through multi-level alerting and triple-play convergence capabilities via a central customer interface. ClairMail's platform also offers multi-channel enrollment options to maximize mobile adoption and ROI, regardless of mobile device, carrier or back-end financial system. Founded in 2004, ClairMail is headquartered in San Rafael, Calif. For more information call (415) 884-7270 or www.clairmail.com.
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