To print: Click here or Select File and then Print from your browser's menu

This story was printed from silicon.com, located at http://www.silicon.com/

Story URL: http://www.silicon.com/financialservices/0,3800010322,39168150,00.htm

RBS, NatWest customers get to go mobile
There is another way to bank...

By Julian Goldsmith

Published: Wednesday 15 August 2007

Royal Bank of Scotland Group (RBSG) will launch a mobile banking service in September for 13 million debit card-holding RBS and NatWest customers.

silicon.com Financial Services

Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!

The service will be offered in collaboration with MoniLink, the joint venture between ATM network operator VocaLink and mobile banking company Monitise.

RBSG consumer banking CEO Paul Geddes said mobile phone banking will give people "another easy way" to access account information and greater flexibility in managing their money."

The group was at pains to emphasise that the service will be secure and no account data will be held on the customer's handset and only the handset linked to the account will be able to access customer data. The bank said the software will be free and there will be no monthly charge. However there may be a data download charge made by the mobile operator.

A spokeswoman explained to silicon.com that the launch is in response to a desire by customers to use mobile banking services.

Cheat Sheets

♦ Basel II
♦ MiFID
♦ Sarbanes-Oxley

She said: "Over the years the increase in mobile phone usage and the secure connections available has meant it is now possible to translate the offer we have on the internet to the phone. We think the next generation of customers would rather use the phone than the internet for some banking services.

"This move is very much customer led. The widespread use of internet banking has shown that customers want the flexibility to access their accounts through multiple channels. This will be an extension of that freedom of choice."