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December 5, 2006

Alliance & Leicester to introduce mobile banking via Monilink

UK banking group Alliance & Leicester is to launch a mobile banking service in early 2007 via the Monilink network, the UK's mobile banking network. The collaboration will enable customers to gain secure access to their current accounts on their mobile phone.

By CBR Staff Writer

The service will provide on-demand access to mini-statements and balance enquiries from consumers’ mobile phones using Monilink’s secure application. Security features include a personal passcode, and all displayed information will be automatically deleted. No personal details will be stored on the handset itself.

Alastair Lukies, chief executive of Monilink, stated: Almost everyone in Britain today carries a mobile phone, making it the ideal device for people to use to keep in touch with their finances. With electronic payments now the norm, Monilink will ultimately help Alliance & Leicester customers to manage their finances better.

The banking group intends to extend the services available using Monilink in the near future, with plans to incorporate the ability to access other accounts, and the ability to transfer money or even to pay a bill directly from their handset.

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