T-Mobile is now in a position to provide its customers with access to cutting edge mobile banking services, thanks to a partnership with Monitise, a UK mobile money provider.
The operator will use Monitise’s mobile banking technology to enhance its service offer, enabling customers to register and receive bank balance alerts by text message.
Mobile phone users in the UK can access services via T-Mobile’s ‘web’n’walk’ and ‘T-Zones’ mobile portals. They can register for weekly alerts to receive text messages at a time of their choosing and be sent a message if their balance goes above or below a certain limit.
This move comes as mobile phone operators recognise the growing importance of mobile banking to their customers, with the number of UK users doubling to two million in the past year.
In collaboration with financial institutions, operators can enable customers to set up text alerts that notify them when their salary arrives or when a bill has been paid.
Damien Byrne, head of new proposition development of T-Mobile said: “Working with Monitise has enabled us to bring new mobile services to market quickly and easily. It is clear that customer demand for managing money on the move is set to grow and it is our aim to ensure that we continue to develop innovative services for them.”
Alastair Lukies, chief executive officer of Monitise, said: “Mobile phone operators have a critical role to play in enabling people to use mobile money services. Given the increase in consumer demand for mobile money, T-Mobile has an opportunity to deepen customer relationships by providing new services that help people avoid overdraft charges or embarrassing card refusals.
“Forward-looking operators like T-Mobile recognise that partnering with Monitise, which provides an industry solution, gives them real added value.”