Standard Chartered live with Meridea m-banking system

Standard Chartered live with Meridea m-banking system

Standard Chartered Bank has implemented a mobile banking system supplied by Finland-based Meridea at its consumer banking division in Singapore.

The bank is using Meridea's SmartBank m-banking platform to enable customers to access online accounts using their mobile handsets.

Standard Chartered customers will be able to check balances, prepare account transfers and browse transaction details, even when their mobile devices are offline. The new services run on existing 2G, 2.5G and 3G networks and are available as downloads from a user's mobile wireless network.

According to Meridea, previous m-banking services such as WAP-based mobile banking relied on a continuous wireless connection to the bank. The new network will allow customers to connect to their bank only when receiving or sending information.

Peter Flavel, head of consumer banking, Standard Chartered Singapore, says: "We have made it even easier for our customers to access their accounts, as there is a wide selection of mobile handsets available that support the technology and customers can choose their preferred service providers."

Jukka Riivari, president and CEO of Meridea, says the service "is faster than the Internet, safer than voice and provides a full range of banking services more cheaply and quickly than other forms of mobile banking."

Meridea says Standard Chartered plans to gradually roll out the service across other countries.

Helsinki-based Meridea was set up by finnish financial services group Sampo, Nokia, Accenture and venture capitalist 3i, in 2001 to sell m-banking applications to third party banks.

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