High street bank HSBC and its internet-based subsidiary first direct are set to become the first UK institutions to offer banking via mobile phone when their new services join the MoniLink network later this year.
MoniLink will be the UK mobile banking platform from LINK, the nationwide ATM operator, which will provide customers with a new form of mobile banking recognised as a "technology pioneer" by the World Economic Forum.
Customers will be able to access banking services such as mini statements and balance enquiries through their mobile phone, 24-hours a day. Prospective patrons will need to download an application onto their phone, which, when registered and authenticated, will allow users to have secure access to their accounts.
Alastair Lukies, MoniLink's chief executive, said: "Having worked with mobile operators and banks for over three years to develop this network we are excited to have one of the world’s largest and most innovative banks leading the service to market.
"The UK is a centre of excellence for banking and mobile technology, so it’s fitting that we are launching our first network in the UK with industry leaders that have global reach," he added.
The new MoniLink service comes seven years after the launch of first direct's text message banking service in 1999. The texts have been used since then to inform customers of salaries arriving and direct debits leaving accounts, as well as providing mini-statements and money management advice.To read more banking news, click here.
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