As part of a new three year deal Monitise, a UK provider of mobile money solutions, is set to provide mobile banking services for account holders of The Co-operative Bank (view press release). The service has recently gone live and will be available to all online banking and Smile account holders. The Monitise mobile banking app enables smartphone customers to check their balance, access mini-statements for multiple accounts, find cash points and branches, set up high and low balance alerts and receive weekly SMS balance updates. The app is initially available on iPhone and further versions are set to follow. Those with basic phones can sign up for an SMS-only mobile banking service which can be used to manage weekly balance alerts and set up messages alerts when their balance reaches a specific amount.

“The Co-operative Bank’s mobile banking service provides an easy and quick way for customers to stay on top of their financial affairs when they are on the move,” said Monitise Group Chief Executive, Alastair Lukies. “Mobile has emerged as the most engaging and efficient way to reach new and existing customers, so we are delighted to develop and deliver The Co-operative Bank’s new service.”