mFoundry Selected as One of "Ten Emerging Mobile Players to Watch in 2008"

San Francisco - February 6, 2008 - mFoundry, the leading provider of mobile financial services, announced today that IDC named the company one of "Ten Emerging Mobile Players to Watch in 2008." IDC, a global provider of market intelligence and advisory services, identified ten companies poised to have a large impact in the wireless market.

"IDC has chosen mFoundry as an emerging player to watch for a number of reasons, one of which is the way it approaches mobile banking and mobile payments," explained IDC in its report. "mFoundry's open and flexible approach allows financial institutions to offer vastly different and potentially novel mobile banking solutions, and prevents carriers from having to go with just one or a select few platforms on their networks. In this sense, mFoundry has federated the mobile banking ecosystem for both financial institutions and carriers."

"We are very pleased that IDC recognized our company and our platform as being one to watch in the industry," said Drew Sievers, CEO and co-founder of mFoundry. "We have experienced wide-spread adoption of our platform across financial instituions of all sizes in the past year, which we see as evidence of the industry's need for an open and equitable approach to mobile banking and payments."

mFoundry's® Spotlight Financial Platform™ software enables full mobile banking, payments, coupons, loyalty and various contactless services. During 2007, mFoundry's open and flexible platform earned the company customer wins and awards in innovation. The company announced last year that the Spotlight Financial Platform software had been selected as the mobile banking and payments platform for top banks including Citibank, BB&T and IBC, and for bank technology providers such as Fidelity National Information Services, First Data Corporation and NCR Corporation.

(Source:IDC, Ten Emerging Mobile Players to Watch in 2008, Doc #210553, Feb 2008)