The End of the Key Fob: Mobile Wallets Unlock a New Era for Housing

RALEIGH, NC & NORMAN, OK – March 04, 2026 – The familiar jingle of keys and the frantic search for a plastic fob may soon be relics of the past for a new generation of renters. At The Collective at Norman, a student housing community serving the University of Oklahoma, residents are stepping into the future of property access. In a move described as a national first for off-campus student housing, property operator Preiss, through its innovation arm IRIS Technologies, has rolled out a complete mobile wallet access experience, replacing physical credentials with the smartphones and smartwatches students already carry.

This initiative allows residents to unlock their apartment doors, individual bedrooms, and shared amenities like gyms and study lounges with a simple tap of their device using Apple Wallet® or Google Wallet™. The launch marks a significant milestone in the property technology (PropTech) sector, signaling a shift from proprietary apps to the seamless integration of native mobile wallets, a feature that promises to reshape resident expectations and operational standards across the multifamily industry. The collaboration behind this leap forward involves software provider Quext and global access solutions leader Allegion, who together helped build an infrastructure designed for both immediate convenience and future innovation.

A Frictionless Experience for the Mobile Generation

For today’s digitally native students, the smartphone is an extension of their identity, managing everything from social calendars to banking. The new system at The Collective at Norman leans into this reality, eliminating the friction and anxiety associated with physical keys. Residents no longer need to juggle multiple items or worry about being locked out.

"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."

The technology's design prioritizes reliability and a seamless user experience. Unlike many app-based solutions that require opening the app and a stable Bluetooth connection, this system leverages the native wallet's capabilities. This means access works instantly with a tap, even if the device is offline or its battery is critically low—a crucial feature for a student returning to their dorm late at night. The convenience of using a device that is almost always on hand has already yielded dramatic results. Early data from the deployment shows a 100% reduction in after-hours lockouts, a persistent and costly issue for both residents and property managers.

“Quext has always envisioned the Wallet experience as the future of access in smart communities, and today that vision is here,” stated 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.”

Redefining Property Operations and ROI

Beyond the resident-facing benefits, the mobile wallet system is engineered to deliver significant operational efficiencies and a clear return on investment for property owners and managers. The traditional process of managing physical keys and fobs is notoriously cumbersome and expensive, involving costs for rekeying locks during unit turnover, replacing lost fobs, and managing a physical inventory.

By digitizing credentials, the Preiss and IRIS teams have streamlined these processes entirely. Onsite staff can now issue, manage, and revoke access permissions remotely and in real-time through a centralized platform. This not only reduces the administrative burden but also enhances security, as access for a former resident can be instantly deactivated. The reduction in credential-related service requests frees up maintenance and management staff to focus on higher-value tasks, directly impacting resident satisfaction and operational performance.

"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.

This focus on measurable impact is a core tenet of the project. The partners—Preiss, IRIS, Quext, and Allegion—embarked on a multi-year innovation effort, prioritizing durability and reliability over a rushed deployment. This methodical approach ensures the system is not just a flashy amenity but a robust piece of infrastructure that contributes directly to the asset's net operating income (NOI). The PropTech market, projected to exceed $32 billion by 2030, is increasingly focused on solutions that offer such tangible financial benefits, making smart access a critical investment for competitive properties.

An Open Architecture for a Smarter Future

The technological backbone of this initiative is a testament to the power of strategic partnership. Quext provided its "Wallet Access" software platform, which securely provisions credentials to Apple and Google Wallets, while Allegion, a global leader in security hardware, supplied its advanced smart locks, including products from its renowned Schlage brand.

A key element of the system's design is its open architecture. This forward-thinking approach ensures the infrastructure is not a closed loop but a flexible foundation capable of integrating with future technologies. It moves beyond simply solving today's access challenges and prepares the property for the next wave of smart building integrations.

"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," explained Olivia Renaud, Allegion group product manager, credentials.

This flexibility is crucial as the concept of "smart buildings" evolves from a collection of isolated devices into a fully integrated ecosystem. The mobile wallet credential serves as the initial anchor for a resident's digital identity within the building. In the future, this same credential could be used to enable personalized climate control settings, reserve amenities, receive packages, or even pay for services within the community, all through a single, secure digital token. This positions the property not just as a place to live, but as an interactive, responsive environment. While other digital access solutions exist, many rely on proprietary company apps, adding another layer of complexity for the user. The direct integration with native mobile wallets sets this deployment apart, offering a user experience that is already familiar to millions and requires no extra software downloads.

By establishing this new benchmark, Preiss and IRIS Technologies are not just modernizing student housing; they are providing a blueprint for the entire multifamily sector. The successful deployment at The Collective at Norman serves as a powerful case study for how to merge cutting-edge technology with a deep understanding of both resident needs and operational realities. As the industry moves from simple credential management toward holistic digital identity management, this initiative places its stakeholders at the forefront of that transformation.

“The Mobile Wallet Experience represents a reimagining of access as infrastructure," Byrley added. "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.”