AT&T launches mobile banking in the United States

AT&T’s mobile division Cingular Wireless has announced that they have finally launched their mobile banking services with the aim of providing an alternative to credit cards, checks and cash.

They have signed on collaborative deals with Wachovia and several other banks for this initiative. These deals would let AT&T customers to manage their accounts and pay bills electronically by using their cell phones.

The company is providing a software application to let them conduct the transactions from their mobile devices. The banks which are participating in this arrangement include Wachovia Corp., BancorpSouth Inc., Regions Financial Corp. and SunTrust Banks Inc.

AT&T does not plan to charge their users for this value added service though they expect more people to join their network to get access to mobile banking features.

AT&T is using the services of privately held Firethorn Holdings LLC for providing the mobile application. They would also be acting as the intermediary between AT&T and the banks.

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