STOCKHOLM SEB Group is letting customers in Sweden trade stocks and use other bank services through Ericsson mobile phones.
The banking company also plans to roll out the service in other European countries where SEB has or is planning to start Internet banks.
SEB has made 5,000 Ericsson R380 telephones equipped with Wireless Transport Layer Security available to its customers. The phones can be used to buy and sell shares, pay bills, transfer funds, and receive stock price information, news, and historical stock analyses.
It is no longer necessary to sit down in front of a computer terminal to conduct banking transactions, said Mona Hagelberg of SEB E-banking. Instead, customers can be sitting on a bus, on a train, or waiting for a flight and make their investments or carry out other banking services.
SEB has 500,000 Internet banking customers in Sweden, and about 10,000 more customers are joining each month. More than half the payments made through SEB are sent electronically.