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May 6, 2008

Yesterday, Cellular South launched a new mobile banking application with BancorpSouth.

The wireless application uses technology from Firethorn Holdings and is free to its users.

Jim Richmond, director of corporate communications at Cellular South said "we expect our new service will be attractive to a wide cross-section of our customer base and will hopefully lead to more mobile commerce-type of applications and usage in the future."

"The first group to adopt mobile banking most likely will be those who do their banking online," added Richmond.

In the coming months, Cellular South plans to offer the service to even more banks in the region.

Users can’t move money from accounts at one bank into accounts at a different bank, but they can access and monitor multiple bank accounts from the same application and PIN, the company says.

Security used to be a big question early on in the mobile banking days, but the carrier doesn’t hear much about security issues anymore, said Richmond.

Customers view account balances and history, transfer funds and pay bills from their handsets through a secure, PIN protected system.

If a handset is lost or stolen, the PIN is still needed to access account information.

In 2007, Qualcomm acquired Firethorn. AT&T launched mobile banking using Firethorn last November, and Verizon Wireless launched banking services with Firethorn in the first quarter of 2008.

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Source: Cellular South.