Abbey National has launched the UK's first fully interactive TV banking service for NTL cable subscribers.
NTL says the launch of the Abbey service begins the transformation of its Money Channel from a simple "shop window" to a true interactive service offering full home banking and financial services. Abbey National is the first banking partner to offer a transactional service via NTL.
The service is available free to NTL subscribers with Abbey National card-based accounts, who can use their remote control to transfer money, pay bills and check their bank statements while watching their favourite TV programmes. They can also find information about Abbey National mortgages and loans.
NTL is using 128-bit encryption technology to secure the service and transactions will be covered by Abbey National's 'Peace of Mind' guarantee, which promises to cover any losses from fraud in which the customer is not complicit.
Ambrose McGinn, Abbey National's director of retail e-commerce and strategic development, says: "Abbey National's philosophy centres around offering easy access to banking services via a choice of channels for customers. It's a case of having access to our services whenever and wherever they want. NTL's digital cable interactive TV service is quick, user-friendly and easily accessible - and you don't even have to get up from the sofa. This will add significant value to our customer choice."
Abbey National e-banking customers can register for the service at any Abbey cash machine, by calling 0845 765 3421 and quoting their account details or by visiting a bank branch.
The NTL fibre optic broadband network currently reaches 12 million homes in the UK and Ireland. The company serves 4.9 million on-net residential, cable telephony and Internet customers and approximately 1.3 million off-net Internet and telephony customers.