Metavante Technologies Inc. has agreed to offer a text-message mobile banking service developed by Monitise Americas LLC, its Providence, R.I., joint venture with the London mobile banking technology provider Monitise PLC.
Monitise Americas said last week that Metavante will be the first bank technology provider to deploy the system, which lets consumers use text messages to check their balances and receive alerts.
"By enabling this text messaging functionality, we are making money management via mobile phone available to virtually anyone," Frank D'Angelo, the president of Metavante's payment solutions group and the chairman of the board for Monitise Americas, said in a press release.
Monitise Americas also offers its mobile banking capabilities through an application that users download to their phones. The application allows people to initiate bill payments, transfer funds, and view transaction data.
Payments are routed through Metavante's debit system, NYCE Payments Network LLC.
According to a report Monitise Americas released last month, more than three-quarters of consumers want to be able to access data such as account balances and recent transactions at any time, and 90% of people said mobile phones are a good tool for doing so.