Monitise plc (LSE: MONI.L), the global leader in Mobile Money solutions, has been selected to provide mobile banking to The Co-operative Bank's account holders as part of a three-year deal.
The service, which has just gone live spans smartphone apps and SMS alerts, is available to all customers of The Co-operative Bank who are registered for internet banking, and all Smile account holders.
The smartphone app lets customers check their balance or access mini statements for multiple accounts, find cashpoints and branches and set up high and low balance alerts and weekly SMS balance updates. Users can call support staff with questions, technical problems or lost or stolen cards. The app is initially available on iPhone, with further versions set to follow.
Customers who do not have smartphones can benefit from the SMS-only mobile banking service that enables them to register for and manage weekly balance alerts and set up messages to let them know when their balance reaches a specific amount.
Monitise Group Chief Executive Alastair Lukies said: "The Co-operative Bank's mobile banking service provides an easy and quick way for customers to stay on top of their financial affairs when they are on the move. Mobile has emerged as the most engaging and efficient way to reach new and existing customers, so we are delighted to develop and deliver The Co-operative Bank's new service."