MoBank provides banking services on the move for Apple iPhone users

Today there was announced the launch of MoBank on the Apple iPhone.

MoBank, a mobile banking service founded by former First Direct and Egg bankers Steve Townsend and Dominic Keen, works with an existing bank account to let users buy and pay for items and check balances online using their mobile phone. Subscribers use a PIN to instruct the MoBank system to authorise payments direct from their debit/credit cards.

The new services will allow users to manage their money, pay bills, make person-to-person transactions, and transfer cash between accounts. The company will also launch some additional services such as a special date reminder alert, and a budget tracker to help customers keep on top of spending.

However, initially the tool will only be available to iPhone users. But the firm will introduce versions for Blackberry and Google Android handsets within a year.

In addition, the service will use a bespoke hosting platform from NTT Europe Online while transaction fee services technology from txttrans means that no banking data, card details or PIN are stored on the mobile phone itself.

Yodlee is providing current banking services and Portrait has been tapped for a CRM platform and database.