Preiss and IRIS Technologies Introduce the Nation’s First Mobile Wallet Access Experience at an Off Campus Student Housing Community

Key Terms

mobile wallet technical

A mobile wallet is a digital version of a physical wallet stored on a smartphone that allows users to make payments, send money, and manage financial information electronically. It simplifies transactions by enabling payments with a tap or scan, much like using cash or a card but through a mobile device. For investors, mobile wallets represent a growing shift toward cashless transactions, reflecting changing consumer habits and technological innovation in financial services.

open architecture technical

Open architecture is a flexible design approach that allows a financial platform or service to include a wide variety of investment options from different providers, rather than being limited to a single company's products. For investors, this means more choices and the ability to customize their investments to better suit their needs, much like a store that offers products from many brands rather than just one.

The Preiss x IRIS Mobile Wallet Experience sets a new standard for frictionless living, operational efficiency, and digital access in multifamily.

RALEIGH, N.C. & NORMAN, Okla.--(BUSINESS WIRE)-- Preiss, a leading national student housing and multifamily owner, developer, and operator, in collaboration with its innovation and consulting engine IRIS Technologies, has announced the successful launch of the nation’s first off campus student housing community to deliver a complete mobile wallet access experience. Implemented at The Collective at Norman serving University of Oklahoma students, the initiative enables residents to access unit doors, bedrooms, and shared amenities using Apple Wallet® and Google Wallet™ on their smartphones or wearables.

Preiss, in collaboration with its innovation and consulting engine IRIS Technologies, has announced the successful launch of the nation’s first off campus student housing community to deliver a complete mobile wallet access experience.

Developed through a multi-year innovation effort with software provider Quext and hardware partner Allegion, the Preiss x IRIS Mobile Wallet Experience replaces physical keys, fobs, and Bluetooth-only credentials with a tap-to-access solution that continues to function even when mobile devices are offline or battery constrained. The initiative advances digital credentials and modernizes access infrastructure for multifamily housing.

“This launch represents a fundamental shift in how access is delivered and experienced in multifamily real estate,” said Whitney Kidd, Senior Vice President of Innovation and Technology at Preiss and Founder of IRIS Technologies. “We designed this initiative to eliminate friction for residents while delivering measurable operational impact at scale. By leveraging native wallet credentials, we are introducing a secure, resilient, and future ready access experience that meets the expectations of today’s digitally native residents.”

A Resident Experience Built for the Mobile Generation

Residents at The Collective at Norman can unlock doors with a simple tap of their phone or wearable device. Because credentials are stored in native mobile wallets, access works without opening an app and can function even when a mobile device has limited battery power.

This mobile first approach provides:

• Instant tap to unlock access using Apple Wallet and Google Wallet
• Offline functionality and low battery capability
• Seamless entry to units, bedrooms, and amenities
• Reduced lockouts and faster issue resolution
• A modern experience aligned with resident expectations

“Quext has always envisioned the Wallet experience as the future of access in smart communities, and today that vision is here,” said Jared Krause, Chief Product + Marketing Officer at Quext. “The excitement from students validates it all: seamless access that just works, eliminating the friction of physical keys. This is what happens when great companies unite to solve real problems and create experiences people love.”

Measurable Operational Impact

The Preiss and IRIS teams prioritized durability, reliability, and measurable operating impact over rapid deployment. Early performance indicators from mobile first access implementations across the portfolio have demonstrated:

• 100% reduction in after hours lockouts at The Collective at Norman
• Fewer credential-related service requests
• Reduced staff time spent on access troubleshooting

These results translate into meaningful efficiency gains for onsite teams and improved resident satisfaction.

"We've seen that operational improvements are most significant when technology is deployed with both the present and the future in mind," said Olivia Renaud, Allegion group product manager, credentials. "By prioritizing an open architecture and integration-first model, we aren't just solving today's access challenges, we're helping ensure our infrastructure remains flexible enough to address the problems of tomorrow."

Infrastructure Designed for the Future of Multifamily

The Collective at Norman deployment reflects a broader strategy by Preiss and IRIS Technologies to modernize access infrastructure and establish a foundation for future digital identity and smart building integrations. The mobile wallet credential platform supports integrated provisioning, scalable credential management, and interoperability with emerging digital ecosystems.

Setting a New Benchmark for Student Housing

By introducing native mobile wallet access at scale in an off campus environment, Preiss and IRIS Technologies continue to position their portfolio as an innovation engine for the multifamily sector. The Collective at Norman serves as a model for future deployments across the Preiss portfolio and for operators seeking to modernize resident access experiences.

“At Preiss, we believe innovation only matters if it improves the lived experience while strengthening operational performance,” said Adam Byrley, Chief Operating Officer at Preiss. “The Mobile Wallet Experience represents a reimagining of access as infrastructure. By eliminating friction at the front door, we are elevating resident expectations while driving measurable efficiency for our teams. This is the future of multifamily access, and we’re proud to help define it.”

Multimedia:

• Video: Mobile Wallet Recap and Resident Testimonials - Preiss X IRIS
• Images: Stock Photos

About Preiss x IRIS Technologies

Preiss is a Raleigh-based owner and operator of student housing communities serving tens of thousands of residents across the United States. Through its innovation and consulting arm, IRIS Technologies, Preiss identifies, pilots, and scales technology solutions that enhance resident experience and operational performance. Together, Preiss and IRIS partner with owners, operators, and technology providers to deliver tested, real-world innovations that advance efficiency, elevate service, and shape the future of multifamily living. Communities interested in deploying mobile wallet access solutions can contact IRIS at info@irisinnovates.com for more information.

About Allegion

At Allegion (NYSE: ALLE), we design and manufacture innovative security and access solutions that help keep people safe where they live, learn, work and connect. We’re pioneering safety with our strong legacy of leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Our comprehensive portfolio of hardware, software and electronic solutions is sold around the world and spans residential and commercial locks, door closer and exit devices, steel doors and frames, access control and workforce productivity systems.

About Quext (if needed)

Quext is a multifamily technology company transforming how apartment communities operate, connect, and secure their environments. Quext delivers fully integrated smart building infrastructure, high-speed managed WiFi, and next-generation access control solutions, including Wallet Access - its secure mobile credential platform that enables residents to unlock doors and amenities using Apple Wallet® and Google Wallet™. By combining enterprise-grade network architecture with seamless resident experiences.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260304235889/en/

Media Contacts: Bri Kayser, Marketing Lead | IRIS Technologies

info@irisinnovates.com

Kasey Munsch, Vice President of Marketing | Preiss

kasey.munsch@preiss.com

Source: Preiss