AT&T Launches Mobile Banking Nationwide

AT&T Inc. (NYSE:T) today announced the launch of a comprehensive, easy-to-use mobile banking platform that will enable consumers to view account balances and history, transfer funds and pay bills from their AT&T mobile handsets.

Through an innovative relationship, AT&T, Wachovia Corp. (NYSE:WB), SunTrust Banks Inc. (NYSE:STI) and mobile banking and payment enabler Firethorn Holdings LLC — and Firethorn’s strategic partner, CheckFree Corp. (Nasdaq: CKFR) — are providing a mobile banking solution that is accessible to millions of Wachovia and SunTrust customers.

“The ability to perform banking functions using a wireless handset is attractive for people who need to make financial decisions on the go — business travelers, college students and anyone who desires the flexibility that wireless delivers,” said Mark Collins, vice president, Consumer Data, for AT&T’s wireless unit. “Value-added services such as mobile banking and payments to the mobile device are part of our ongoing strategy to enrich the customer experience.”

The mobile banking application will be pre-loaded on future AT&T handsets beginning later this year. Because the mobile solution is embedded on the handsets, it is easy for users to locate the mobile banking icon in the applications folder on the device and access the service. The mobile banking application is also available for download on more than 30 of AT&T’s most popular handsets — representing approximately 30 million devices in the market today.

Enrolling in mobile banking on AT&T is simple, secure and similar to today’s online banking experience for most consumers. Customers first sign up at their financial institution’s online banking Web site and are issued a one-time initialization code. After accessing mobile banking on the AT&T handset, customers use the code to link their account to the mobile application on their device. Customers then create their own personal identification number (PIN) to provide secure access to the application.

All data is encrypted, and customers can deactivate the service immediately if handsets are misplaced. For additional security, new bill payees can only be added from customers’ online banking accounts.