Alan Fosler, SVP at UBT, explained that using Digital Payments Guardian from Prairie Cloudware “will facilitate tokenization of payment and personal data” for customers using their debit cards via Android devices.
“As digital devices increasingly become the tool of choice for simplifying the complexities of life, we want to give our customers an easier, safer way to pay,” Fosler said.
From left: Chief Revenue Officer Doug Parr and Chief Marketing Officer Mike Carter demonstrated Prairie Cloudware’s Digital Payments Guardian at FinovateSpring 2015.
Prairie Cloudware’s Chief Revenue Officer Doug Parr pointed to two factors that make his company’s technology a strong choice for FIs. First, Parr noted that “consumers have repeatedly indicated that they prefer to consume mobile payments via the existing relationships they have with their banks.” And second, the technology that delivers mobile payments cannot be a burden to either the user or the bank offering it. “Our Digital Payments Guardian allows regional organizations to deploy mobile payment services without needing a staff of thousands and an eight-figure technology budget,” Parr said.
UBT is not the only company that has adopted the technology in recent months. INTECH announced in October that it was licensing Digital Payments Guardian to provide to its credit union clients. In June, Prairie Cloudware announced a new round of funding.
Union Bank & Trust was founded in 1917 as the Farmer’s State Bank, changed its name to Union Bank in 1935, and added trust powers in 1959, becoming Union Bank & Trust Company. UBT is the third-largest, privately owned bank in Nebraska with assets of $3.2 billion.
Founded in December 2012 and headquartered in Omaha, Nebraska. Prairie Cloudware demonstrated its Digital Payments Guardian at FinovateSpring 2015.