MEXICO CITY - BBVA Bancomer, Mexico's largest financial group, has reached an agreement with 724 Solutions Inc. of Toronto to deliver wireless banking services to its nine million customers in Mexico and the United States by the end of the quarter.
BBVA will be the first major Mexican financial institution to offer wireless financial services in English and Spanish.
With 724 Solutions' Financial Services Platform, BBVA customers will be able to use devices such as mobile phones, personal digital assistants, and pagers to make intrabank transfers, pay bills, and view account information, statements, transaction details, news, weather, and financial market updates.
More than 5,000 companies and 20,000 individual clients use BBVA's online banking and securities trading services daily.
Fifty-one percent of Mexico's population will be using mobile phones by 2005, according to the research firm Ovum Ltd.