Cingular investing in mobile banking

Mobile banking services provider Firethorn Holdings announced today it will partner with Cingular Wireless to launch a wireless banking service available to subscribers in early 2007. The service will enable Cingular subscribers to check account balances, transfer money and pay bills via their mobile handsets. According to Cingular, subscribers will be able to download the necessary application from their bank's website; while the carrier has yet to announce official agreements, it says it's in talks with a number of financial institutions seeking participation in the service.

Online banking services have proven enormously popular with consumers. According to a recent survey released by the Pew Internet and American Life Project, close to 45 percent of Internet users banked online in 2005, up from fewer than 15 percent in 1998. It isn't difficult to envision the expanded possibilities m-banking offers--paying bills on vacation, perhaps, or checking an account balance from the mall.

For more on Cingular's mobile banking plans:
- read this release

Related article:
- India testing mobile banking services