mBlox and O2 host mobile banking seminar

London, UK - 21 September 2006

LogicaCMG, MasterCard and Informa join mBlox and O2 to educate market on the benefits of SMS to interact with customers

mBlox, the world’s largest mobile transaction network, has today announced that it will be hosting a seminar for the financial sector – Mobile Banking: the 5th channel to customers, with UK mobile operator O2. Aimed at decision-makers within banks and credit card companies across the UK, the event will demonstrate how SMS can benefit banks by enhancing customer service, reducing fraud and cutting overall communication costs. The seminar will take place at the Oval Cricket Ground in central London, on 26th September, from 9am-1pm.

With over 90% mobile penetration rates in Europe, banks are increasingly looking to use SMS as a business communication tool. Mobile is rapidly becoming the fifth channel to reach customers, building on the existing channels which include branches, ATMs, Internet banking and phone banking. With over 51% of the UK’s frequent Internet users interested in mobile banking services, there is a significant opportunity for banks to take up mobile banking to connect with their customers. Today SMS-enabled banking applications include account alerting, process alerting, financial services updates, fraud prevention and internal communications.

Attendees on the day can expect detailed information on: the financial benefits of mobile banking; how to ensure customers have the best possible experience of mobile banking and a case study from MasterCard that demonstrates how SMS can help cut fraud. Speakers are confirmed from mBlox, LogicaCMG, MasterCard Worldwide, Garanti Bank, Informa Telecoms and Media and O2.

“Financial institutions must recognise the rapid changes in consumer expectations as they become ever more mobile-centric,” said Andrew Bud, executive chairman of mBlox. “Banks in the UK and internationally who were early adopters of mobile strategies are already cutting costs, reducing fraud and increasing revenue. Seminar attendees will gain an insight into the many possibilities and benefits of mobile banking and SMS, and how they could fully incorporate this fifth channel to customers, directly from the companies that are leading the change.”

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