Bangkok Bank rolls out Fiserv m-banking technology

Bangkok Bank rolls out Fiserv m-banking technology

Bangkok Bank has signed up for Fiserv's Mobile Money service, enabling customers to access its Internet banking platform from their handsets.

The M-Com powered browser-based application, available in Thai and English, lets users view account information, pay bills, transfer funds and top up their mobile phone account.

Fiserv says that Thailand's mobile penetration rate is over 80%, one of the highest in the Asia Pacific region, rapidly growing from 44% in 2004.

Karen Campbell, EVP, Bangkok Bank says people in Asia want portable banking tools to complement busy, highly mobile lifestyles. She cites a recent focus group of late teens which found that participants consider using an ATM "too much effort".

"The uptake of this cutting-edge consumer banking technology demonstrates a significant shift in how banks across the world connect with their customers," says Campbell.

Recent research from Berg Insight suggests Asia Pacific will become the most important regional market for mobile banking over the next five years, driving rapid take up of the technology.

The firm predicts the number of people around the world using the technology will grow from 20 million in 2008 to 913 million in 2014, a CAGR of 89%, with Asia Pacific accounting for 65% of the total user base.

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