Alliance & Leicester to launch mobile banking

Alliance & Leicester has announced it is planning to launch mobile phone banking in the new year. The service, which complements its award-winning internet banking, will be run via the MONILINK network allowing customers secure access to their current accounts on their mobile phone - wherever they are.

Customers who register for the service will have on demand access to mini statements and balance enquiries from their mobile phone using MONILINK’s secure application. The service will be protected by a personal passcode and any information displayed is automatically deleted. No personal details are stored on the handset itself, ensuring that information remains secure, even if the handset is lost or stolen. Furthermore, customers with a pre-pay mobile phone account will also soon be able to top-up their mobiles directly from their Alliance & Leicester bank account.

Ian Tandy, Director of eCommerce at Alliance & Leicester said: “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. The service will initially enable customers to check their balance and recent transactions, as well as top-up pre-pay mobile phone accounts. We expect new services to be added in the future.”

Alastair Lukies, Chief Executive, MONILINK added: “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.”

Ian Tandy continues: “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 from the phone once read, giving customers peace of mind and confidence in the service.”

In the future, Alliance & Leicester intends to extend the range of services available using MONILINK. These could include theability to access other accounts, the ability to transfer money or even to pay a bill directly from their handset.

How banking technology has developed:

1967 – The first ATM in the UK is launched in Enfield Town
2006 – 59,000 ATMs in the UK
£66.5 billion in cash has so far been withdrawn from ATMs in 2006
£313 million is withdrawn on average on a daily basis – the average withdrawal is £40
1997 – the first internet banking service launched
2006 – 15 million UK adults now bank online

Ian Tandy concluded:“I’m certain mobile phone banking will become a widely used channel, especially as our lives become even more digitalised. Alliance & Leicester is committed to being the UK’s leading direct bank account and the introduction of mobile banking enhances the award-winning banking services we currently provide.”