ASB Bank is laying claim to New Zealand's first commercial mobile phone banking service with the forthcoming launch of Fastnet Mobile.
Customers will be able to use the Fastnet service to view mini-statements on cell phone screens and initiate account transfers.
Fastnet Mobile will be available to customers using Telecom NZ's new CDMA network from the end of August. It will be available to other networks as their technologies emerge, says the bank.
Clayton Wakefield, ASB Group general manager, technology and operations says: "Flexibility for customers connecting with their ASB Bank accounts anywhere, anytime will become a reality from late August. The fact that they can see it on screen is a huge bonus, for example, a customer making a purchase in Queenstown or Invercargill will be discreetly able to check a balance on Fastnet Mobile and transfer funds before paying."
Encryption technologies are used to scramble calls and customers will be required to enter a personal access code and password to call up the service.
The mobile phone banking service is the first in a number of wireless technology initiatives ASB Bank is planning. Other projects in the pipeline include payments via Fastnet Mobile and pre-pay mobile phone top ups via ATM's, Fastphone, and Fastnet.