Monitise Regulatory News (MONI)

10 Jun 2008 13:00



10 June 2008

UK BANKS TO ENSURE THAT CUSTOMERS ARE ALWAYS IN THE KNOW

MONILINK, the Market Leaders in UK Banking and Payments Launches Text Alerts to Keep Bank Customers in Control of Their Money

MONILINK, the UK mobile banking and payments network, today announced that UK consumers can now set-up and receive text alerts informing them of the status of their accounts on a regular basis, as well as when their account is close to predefined limits or when payments are received. Royal Bank of Scotland, NatWest and Ulster Bank have announced they will be the first participating banks to offer the new service.

The service has been developed through close collaboration between the banking and mobile industries in order to meet the consumer, industry and regulatory demands for improved financial access. By using the ubiquity of SMS alerts, it ensures that all consumers can stay up to date with their money by simply carrying a mobile phone. With 52 million mobile phone owners in the UK, the announcement signifies the introduction of the most accessible banking service ever introduced.

Will Jones, Head of Delivery for Innovation at The Royal Bank of Scotland Group, said: "Our objective is to provide excellent service to our customers and offer them a choice in how they manage their money. It's estimated that over a million consumers are already using their mobile phones to keep up to date with their money, which makes it one of the most popular ways to bank in the UK.

The introduction of text alerts means that our customers will now have the ability to set up alerts that notify them of the status of their accounts, and even set the limit that triggers the alert themselves.

We think the alerts will be a really valuable tool for those customers who want to keep a tight rein on their finances, and, in particular, we think people will really appreciate the opportunity to set their own flexible limits."

Andrew Harrison, UK chief executive, Carphone Warehouse added: ""Banking is one of life's essential activities and money savvy Brits already take a close interest in the state of money from day to day. As the UK's largest retailer of mobile communications services, we are committed to helping our customers to manage their lives better by using clever services on their mobile. By combining trigger alerts with an 'at their fingertips' remote control is the perfect example of how the mobile industry is working with the UK's leading high street banks to make sure that people's money is, quite literally, always 'at hand'."

Alastair Lukies, Chief Executive, MONILINK concluded: "The mobile phone has changed the way that consumers receive information, whether that is important business correspondence or the latest football score. Text alerts are the perfect medium to keep bank customers actively up to date with their money and allow them to make sure their money is working hard for them by prompting them in those moments when action is required. It keeps them in control, wherever they are 24/7."

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About MONILINK

MONILINK, the UK's mobile banking network, provides consumers with a greater level of control over their finances, allowing them to securely access their card-based accounts via the mobile handset. The service is currently available to customers of first direct, HSBC, Alliance & Leicester, Royal Bank of Scotland, NatWest and Ulster Bank. It has been developed over the past three years by VocaLink, the UK's ATM interchange network and Monitise, the mobile banking and payments specialists. The service was awarded 'Technology Pioneer' status by the World Economic Forum, in recognition of its potential to create a 'life changing impact on a global scale'.

The company uses the trusted technology and operational capability of VocaLink which is connected with 37 of the UK leading retail banks and building societies. This allows VocaLink's portfolio of services, such as balance enquiries and mobile prepay 'top ups' to be delivered to the broadest group of banking consumers.

About Monitise plc

Monitise plc (MONI.L) is a specialist in mobile banking, payments and commerce

technology. It has engineered the world's first mobile banking ecosystems, which

allow customers of multiple banks and mobile operators to perform banking and

payment transactions directly from their mobile handset.

With live services in the UK and the USA, where it has delivered the MONILINK and

Monitise networks in partnership with VocaLink and Metavante Corporation respectively, the Company is currently working with international partners to deliver

similar safe, secure mobile banking & payment services in territories worldwide.

Current key partners include VocaLink, Metavante, HSBC, first direct, Alliance &

Leicester, Royal Bank of Scotland, NatWest, Vodafone, Orange, O2, T-Mobile and

Hutchison 3G.

Monitise was recognised as a 'Technology Pioneer' by the World Economic Forum in

2006; 'Mobile Innovation of the Year' by The Banker Magazine in 2007 and awarded

the Innovation in Messaging Award 2007 by the Mobile Messaging Association.

www.monitisegroup.com