Tuesday, February 1, 2011

Ericsson to Offer End-to-End Mobile Banking Solution

Ericsson is launching a new business line that will offer mobile financial services. Ericsson said it will offer an end-to-end solution and associated business and operational model, fulfilling all necessary regulatory, legal and security requirements, in cooperation with its operator customers and innovative players in the financial sector.

"A new market is opening up consisting of consumers whose first meeting with banks will take place over a mobile phone and who may never own a plastic credit card. People who may never enter a bricks-and-mortar bank now have the opportunity to "walk" into a virtual bank using their phone. They will also benefit from more reasonable fees for routine transactions such as transferring funds", says Semir Mahjoub, Head of Ericsson Money Services, Ericsson.


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