Global Economics

RBS Clients Get Mobile Banking


Stressing convenience and security, the Royal Bank of Scotland prepares to launch banking-by-handset for 13 million customers

Royal Bank of Scotland Group (RBSG) will launch a mobile banking service in September for 13 million debit card-holding RBS and NatWest customers.

The service will be offered in collaboration with MoniLink, the joint venture between ATM network operator VocaLink and mobile banking company Monitise.

RBSG consumer banking CEO Paul Geddes said mobile phone banking will give people "another easy way" to access account information and greater flexibility in managing their money."

The group was at pains to emphasise that the service will be secure and no account data will be held on the customer's handset and only the handset linked to the account will be able to access customer data. The bank said the software will be free and there will be no monthly charge. However there may be a data download charge made by the mobile operator.

A spokeswoman explained to silicon.com that the launch is in response to a desire by customers to use mobile banking services.

She said: "Over the years the increase in mobile phone usage and the secure connections available has meant it is now possible to translate the offer we have on the internet to the phone. We think the next generation of customers would rather use the phone than the internet for some banking services.

"This move is very much customer led. The widespread use of internet banking has shown that customers want the flexibility to access their accounts through multiple channels. This will be an extension of that freedom of choice."

Provided by silicon.com—Driving Business Through Technology

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