13th Jul 2005 07:00
Stream Group PLC13 July 2005 Wednesday 13 July 2005 mobileATM(TM) TO LAUNCH MOBILE BANKING BY END OF 2005, WITH STREAM AS MOBILE PARTNER mobileATM(TM), with Stream Group as exclusive mobile partner, will providemobile banking services to UK consumers by the end of 2005. mobileATM(TM) wasdeveloped jointly by Morse plc and LINK, the operators of the UK cash machinenetwork, employs Stream's MChex platform and is currently being integrated intoa number of UK banks and building societies. mobileATM will provide consumers with real-time, on-demand access to theirpersonal financial information on their mobile handset. It delivers a convenientmoney management tool on the move, allowing banking transactions, such asbalance enquiries and mobile top-ups, to be performed. The service has also beendesigned to replicate the simple interface of an ATM on the mobile handsetensuring a very familiar consumer experience. To use the service, consumers need only download an application onto theirphone. This can be done quickly and easily by sending a text message to a shortcode or by calling into their local Carphone Warehouse store. As with onlinebanking, once registered and authenticated, consumers will have access to theiraccounts - wherever they are. Alastair Lukies, mobileATM(TM) commented: "The launch of the mobileATM serviceis an important step in the evolution of electronic banking and is designed withconsumer convenience in mind. The ATM is the most common interface used toaccess banking services worldwide. In order to make sure that many peoplebenefit from this service we have simply replicated this user experience on themobile handset and then utilized the cross network capability of Stream Group." Richard Kimber, chief executive, First Direct said: "First Direct customers werethe first to enjoy text message services back in 1999, following our earlierinnovations in telephone and internet banking. We see mobileATM as a further wayof extending choice and convenience for our customers". Tim Yates, chief marketing officer, Vodafone UK said: "Mobile phones arebecoming more and more central to our customers' lives - not just for calls andtexts, but also for music, games, information and news. Our customers want totop up in a way that's convenient for them. With the increasing popularity ofATM top ups, it's natural for us to extend this service to the customer's mobilephone." Kevin Gillan, group director of business development, Carphone Warehouse added:"This launch is an excellent example of how consumers are shaping the future ofservice provision. The mobile phone is increasingly the way that consumers arechoosing to receive and manage information, whether that be the latest cricketscore or their work e-mail. The launch of mobileATM is the natural progressionof this trend." Karl Shields, LINK, commented: "This launch gives consumers far greater controlof their money, delivering a personal finance tool that literally slips intoyour pocket. As the operator of the world's busiest ATM network, LINK'sunrivalled experience of providing 'always on' secure mass market electronicbanking services for the consumer will be key in the acceptance of mobileATM.The 'plug and play' functionality will provide all LINK Members regardless ofsize with the opportunity to participate in the mobileATM initiative, in turndriving mass market take up and positioning the UK at the forefront of thisemerging industry." mobileATM also offers an additional level of security to online bankingservices. Using its banking grade encryption technology, customers at the pointof access to their bank's online service will be able to generate a one-offauthentication code via mobileATM. This removes the threat of password theftoccurring through 'phishing' or trojan attacks since codes are changed on ause-by-use basis. Professor Fred Piper, director of information security group, Royal HollowayUniversity of London, pointed out: 'Security in all banking channels is ofparamount importance and mobileATM have demonstrated that they take securityvery seriously. We have just completed an in-depth security risk assessment oftheir current service and are impressed with their security specification.mobileATM has excellent potential for helping to secure internet banking withtheir two-factor authentication system." Duncan McIntyre, chief executive of Morse, commented on the launch: "mobileATMis the conclusion of two and a half years of intensive development, leveragingthe very high level of technology expertise we have at Morse. "It is an example of our successful intellectual property development,broadening the range of services we offer and helping us ensure we are wellplaced to take advantage of opportunities in the emerging mobile commercemarket. "Bringing this solution to market is an important first step for our jointventure with LINK and we look forward to its continued success as we roll outthis solution in the UK and, over time, into other geographic markets." -ends- mobileATM(TM)mobileATM(TM) is a mobile banking service provider. The company is a jointventure between LINK, the operator of the UK ATM network, and Morse plc.,Europe's leading technology integrator. It was formed in 2003 by Alastair Lukiesand Steven Atkinson. mobileATM(TM) provides consumers with a greater level of control over theirfinances, allowing them to securely access their card-based accounts via themobile handset. Using the trusted technology of LINK interchange network, connected with 37 ofthe UK leading retail banks and building societies, mobileATM is truly carriergrade. This allows its portfolio of services, from balance enquiries and mobileprepay 'top ups' to be delivered to any mobile consumer regardless of their bankor building society. The service is built on Sun Microsystems' Java platform which ensures maximumhandset compatibility while allowing the delivery of a secure application. SunMicrosystems are also working with mobileATM to enable to international rolloutof the mobileATM service. mobileATM is also partnered with Stream Group plc, aleading mobile content and applications provider, that help mobileATM ensurethat its service is available to the widest range of mobile handsets or mobilenetworks. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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