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Ondot Systems Unveils Card Control Integration Platform

Card control innovator Ondot Systems released its multi-interface card control integration platform today. The San Jose, California-based company, which won Best of Show at FinovateSpring 2014, has combined a server-side API, mobile apps, and an HTML5 framework to give FIs the ability to add card control technology to their mobile banking solutions. “Much as Facebook Messenger fits completely within Facebook, Ondot’s Mobile Card Services platform can sit perfectly within any financial institutions’ mobile banking app,” Ondot Systems Senior Director of Product and Professional Services, David Golden said. “(This) drives more mobile engagement as consumers establish their own card usage preferences.”

Golden credited mobile card control services for providing banks with average revenue gains of $30 per user per year, and emphasized the importance of a friction-free experience to ensure continued – to say nothing of increased – card usage. “When it comes to delivering a great customer experience, consumers demand seamless performance from all of their banks’ mobile services,” Golden said. And seamlessness, he added, was key to enabling FIs to “benefit from increased card use, reduced card fraud, and greater digital engagement.”

Pictured: Ondot Systems Executive Vice President Rachna Ahlawat demonstrating Ondot’s Mobile Card Services at FinovateAsia 2016.

Each component of Ondot’s Card Control platform is designed to make card control services an easy feature to be added by FIs and used by consumers. The server side API gives FIs the ability to establish the look and feel of the solution, while the HTML 5 framework means that going forward banks will be able to introduce new card control features faster. And by locating the card controls app inside the FI’s mobile banking app, the services are accessible via the same single sign-on process. This ensures that bank customers enjoy a consistent UI and UX across all mobile devices. Also available as a customizable, white-label, standalone card control app, Ondot’s mobile platform provides a range of card services including on/off switching, spending limits, fraud alerts, as well as geolocation-, transaction-, and merchant-specific controls.

Founded in 2011 and headquartered in San Jose, California, Ondot Systems demonstrated its Mobile Card Services at FinovateAsia 2016. In May, Ondot and fellow Finovate alums Malauzai Software and Vantiv teamed up to offer a youth spending solution, Family Manager: SmartKid Control. The company has raised $28 million in funding, including a $10 million venture round in 2016. Ondot shared its thoughts on the challenge of “friendly fraud” and the solution of mobile card controls in a guest post for Finovate earlier this month.