At launch, consumers will be able to buy all sorts of things using MoBank, such as cinema tickets, clothes, music, books, flowers, gifts and tickets; and check the balance on their card from their phone. Soon, it will include extra convenient banking features such as money transfers, bill payments and budget trackers.
MoBank will initially be available on the iPhone, with plans to roll it out to Java, Google and Blackberry phones later in the year.
With a proven history of working with security-critical online financial services, NTT Europe Online's managed hosting platform is built to deliver maximum performance to MoBank users. With multi-tiered firewall protection, anti-virus and intrusion-prevention technology, the platform is fully compliant with the Payment Card Industry Data Security Standard (PCI DSS) to protect users' sensitive personal data. NTT Europe Online's managed hosting services also meet the ISO27001 Information Security Standard, allowing MoBank to guarantee the reliability and availability of the service.
Dominic Keen of MoBank said: "The Internet has revolutionised how we shop and manage our money. The next step is to take this to mobile phones. MoBank has been designed to make people's lives easier and save them time by providing banking services on the move.
"A secure hosting platform is extremely important. We worked closely with NTT Europe Online to provide this, ensuring it was scalable and capable of delivering high performance levels. The technical backing we receive from NTT Europe Online is critical in helping us achieve our goals."
Damien Skendrovic of NTT Europe Online comments: "We're delighted to be working with MoBank and their application shows us just how exciting and useful mobile technology can be. A service such as this has to have the right technological foundations to make it succeed. In MoBanks' case, its hosting platform needs to meet the levels of security required by any financial service as well as the specific demands of mobile data applications. We're convinced that MoBank will be a huge success."
MoBank is already attracting interest: in 2008, it won a Red Herring 100 award for the best startups in the world; and it won the Oxford University Saïd Business School Venture Competition in 2008.
About NTT Europe Online
NTT Europe Online provides managed hosting, security and application management services to businesses globally. These services provide the reliability, availability, security and scalability needed to underpin business success online.
NTT Europe Online is certified to ISO27001 for Information Security Management and, as part of NTT Communications, has the global reach and scale to support businesses of all sizes. NTT Communications is the global data and IP services arm of the Fortune Global 500 telecom leader, Nippon Telegraph & Telephone Corporation (NTT). For further information visit http://www.ntteuropeonline.com
About MoBank:
MoBank - http://www.mobank.co.uk - is a new mobile banking service started by ex-First Direct and Egg bankers, Steve Townend and Dominic Keen. MoBank works with your existing bank account to let you buy and pay for stuff using your mobile phone. In 2008, it won a Red Herring 100 award for the best startups in the world; and it won the Oxford University Saïd Business School Venture Fund Competition 2008.
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