Clickatell and Fundamo to offer SMS banking

Clickatell and Fundamo have teamed up to offer a new SMS-based mobile banking solution.

The service allows customers to check their balance, transfer funds, approve payments, locate their local bank or nearest ATM, and receive receipts, all via text message.

“Research shows that a bank’s most profitable clients are those using mobile banking and we believe SMS is core to a bank’s portfolio of services,” said Clickatell CEO Pieter de Villiers.

“Leading banks are putting together mobile strategies all around the world.”

Hannes van Rensburg, Fundamo CEO, added: ”Fundamo and Clickatell share a commitment to deliver innovative and cost-effective mobile financial services founded upon unrivalled experience in deploying these services in developed and developing markets.”

Technology from mobile banking specialist Fundamo is already used in one third of mobile banking deployments worldwide.

Text messaging services provider Clickatell connects its customers, which include the BBC, CNN, and First National Bank, to 775 networks in more than 200 countries.