Alliance & Leicester to offer mobile banking in the New Year

 

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By Maggie Holland

Posted on 6 Dec 2006 at 16:57

The banking giant will use the Monilink network to mobilise account services for customers

Alliance & Leicester plans to offer millions of customers the ability to securely access their current account information on the move using their mobile phones from next year.

The institution will use the Monilink phone-based financial transaction platform to enable account holders to access services such as mini statements and balance enquiries using a password protected application.

Other services are planned for the future, such as the ability to pay bills, transfer money or access other accounts.

'I'm certain mobile phone banking will become a widely used channel, especially as lives become even more digitalised,' said Ian Tandy, director of e-commerce at Alliance & Leicester.

'The mobile phone is already a central tool in people's every day lives - we increasingly lead digital lifestyles with mobiles acting as the hub...Accessing banking details via a mobile phone is the next natural step, and one we think our current account customers will embrace.'

Once information has been digested by the user, it's automatically deleted, further enhancing confidentiality and security in the event of handset loss or theft.

Tandy added: 'Using a mobile phone for banking will enable customers to have an even better handle on their finances, with up to the minute detail, accessed through a secure channel. The security built into this technology ensures that all details are automatically deleted once read, giving customers peace of mind and confidence in the service.'

Fellow financial services giant HSBC announced a similar move, also in conjunction with Monilink, Montise and LINK, back in October.

The new service allows the bank's customers and those of its First Direct subsidiary to conduct balance enquires and obtain mini statements as well as accessing other account information, on the move.

'There are now more people with a mobile phone than a landline, making it the world's must-have communications device,' Chris Pilling, chief executive of first direct said back in October when the service was announced.

'The launch of MONILINK supports our drive to give customers the widest choice of ways to control their money. First Direct was the first branchless bank in the UK. We are now the first to introduce this pioneering mobile phone banking service, which allows consumers to top up a mobile as well as check their account balance.'

Like HSBC's service, Alliance & Leicester customers will also soon be able to use the service to top up their pre-pay mobile phones.