SNS Bank to offer money transfers via i-mode

SNS Bank to offer money transfers via i-mode

SNS Bank is the first bank in the Netherlands to offer third party money transfer services to i-mode mobile Internet subscribers transacting over the network of Dutch telco KPN.

The SSL/TLS-compliant secure service is available over the latest NEC handset, the N341i. Subscribers to SNS Bank's i-mode site can use the handsets to transfer money to any bank or giro account. The bank already offers all i-mode customers balance and transaction information as well as transfers between their own SNS accounts.

For the new service, a key icon on the i-mode handset's screen indicates that a secure end-to-end connection has been made, just like the padlock icon on the fixed Internet.

KPN says the high level of security holds out the prospect of additional services involving confidential information such as m-brokerage and the settlement of payments on the mobile.

Rabobank, one of the largest banks in the Netherlands, has committed to expand its i-mode site to include the facility from October. Other banks plan to follow suit shortly, says KPN.

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