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From: Tadsamillionaire	9/7/2007 2:00:07 PM
	of 42

Mobile Banking Mobile devices are likely to be the next major battleground for banks in the fight for Internet banking supremacy. US banks are beginning to unveil Internet banking packages for mobile devices. Wachovia, Bank of America, Citi and Wells Fargo have rolled out mobile consumer banking services in the past year. Wells Fargo says its recently unveiled mobile services will appeal mainly to younger consumers and busy business travelers who want to use cell phones and PDAs (personal digital assistants) to check account balances and pay bills. Lawlor says he sees the best online banking application for mobile devices being alerts. For example, banks could send text messages or emails to customers' cell phones to alert them that their payment is due, they've surpassed the credit limit on their credit cards, or their stock trade has been completed. Billers could alert customers that their bills have come due in the hope of getting paid sooner. "My gut says mobile [banking] will be driven by alerts," says Lawlor. He adds that mobile devices are also ideal for small payments and money transfers. Several major banks are developing such offerings.

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