HSBC, First Direct To Launch MoniLink Mobile Banking In UK

For the first time consumers, will be able to get 'on demand', 24 hour secure access to banking services including mini statements and balance enquiries through their mobile phone. They will also be able to top-up their own or somebody else's prepay mobile. To use the service, consumers need only download an application onto their phone. As with online banking, once registered and authenticated people will have secure access to their accounts - wherever they are.

The service complements internet and phone banking pioneer first direct's text message banking service - a UK first at its launch in 1999. This existing service offers weekly or monthly mini-statements plus 'event-based' texts which can, for example, tell customers when their salary arrives.

MoniLink has been developed over the past three years by LINK and IT development firm Morse. MoniLink was recently recognised by the World Economic Forum as a 'technology pioneer' which can have a 'life changing impact on a global scale'.

Richard Kimber, chief executive of first direct, said: "first direct pioneered text message banking six years ago and we now send around 40 million texts to our customers every year, helping them manage their money. first direct is famous for its commitment to innovation and ground-breaking service. We see MoniLink as the natural next step for mobile phone banking, offering a snapshot of your finances whenever you need it, day or night."

Alastair Lukies, MoniLink's chief executive, added: "Having worked with mobile operators and banks for over three years to develop this network we are excited to have one of the world's largest and most innovative banks leading the service to market. The UK is a centre of excellence for banking and mobile technology, so it's fitting that we are launching our first network in the UK with industry leaders that have global reach. We are also developing similar platforms in other countries through our partners."