SAN ANTONIO–AT&T has launched what it called an easy-to-use mobile banking platform that will enable consumers to view account balances and history, transfer funds and pay bills from their AT&T mobile handsets.
The new platform is initially available to customers of Wachovia and SunTrust Banks and is based on mobile banking and payment platforms from Firethorn Holdings and Checkfree. The mobile banking application will be pre-loaded on future AT&T handsets beginning later this year. The mobile banking application is also available for download on more than 30 of AT&T’s handsets – representing approximately 30 million devices in the market, the firm said.
Customers first sign up at their financial institution’s online banking website and are issued a one-time initialization code. After accessing mobile banking on the AT&T handset, customers use the code to link their account to the mobile application on their device. Customers then create their own personal identification number (PIN) to provide secure access to the application. All data is encrypted, and customers can deactivate the service immediately if handsets are misplaced.
Minimal data usage charges apply and vary based on individual use. AT&T is recommending a data plan (starting at $9.99 a month) for customers who plan to use mobile banking and other data services frequently.
