[16 February 2000] NatWest, the first bank in the UK to demonstrate the potential of WAP mobile phones, will launch its first live service using
the Internet-compatible mobile phones in April. The service, which has been developed with Orange, the UK's most advanced digital mobile phone
network, will enable 200 NatWest and Orange customers to manage their finances at the touch of their mobile phone keypad.
Using Wireless Application Protocol (WAP) technology, customers will be able to check their balances before making a purchase, transfer money
between current and savings accounts, and arrange for a household bill to be paid. Other services will include the ability to look at the twelve
most recent transactions and, via the Short Message Service (SMS), be alerted to things such as when their balances reach a certain limit or
that their credit card payment is due.
Gordon Pell, Chief Executive, UK Banking, NatWest, said: "With this latest service, we are providing our customers with all their financial
needs in the palm of their hand. NatWest is yet again pioneering the latest in banking technology. Our customers will be able to manage their
personal finances, wherever they are in the world: whether it be via the Internet, their phone, a cash machine or by visiting a bank.
"This new service is just the start of a revolution in banking. The
potential benefits to our customers and the business benefits to NatWest from such developments are huge. With the prediction that mobile phone
Internet users will outstrip PC Internet users in the next few years, the market potential is enormous."
Bob Fuller, COO of Orange, explained: "Orange's objective is to lead the market in information and m-commerce, enabling our customers to access
information and buy or bank online, whenever or wherever they are.
"WAP technology - which Orange was the first to launch in the UK last November - will change the way we live and work. By the end of the year,
Orange predicts that over 70 per cent of new phones will be WAP-enabled. WAP-based banking is exciting and innovative: being able to access the
Internet on the move and do your banking whenever it suits you is the way of the future."
There are currently over 300 million mobile phones around the world. This is already a third more than the number of PCs connected to the Internet
and this gap is set to widen. Orange predicts that by 2003 the number of WAP handsets will have overtaken the number of PCs connected to the
Internet. In addition, with the number of mobile phone users set to rise above one billion around the same time, Orange believes that the mobile
phone will be established as the principal medium to access the net.
Orange and NatWest are also working with Razorfish, NatWest's strategic digital partner, to develop the strategy and branding of the mobile
banking service. Bertrand Mann, Head of Mobile Solutions at Razorfish, said: "NatWest's WAP
banking represents a significant commitment to a growing group of consumers who want information on the move. By launching this service,
NatWest will gain mindshare and loyalty from customers through a new and wireless user experience. This service defines a new and untapped
strategic direction for NatWest; it has taken the lead. Its competitors can only follow."
The introduction of WAP comes as NatWest reveals the initial success of its Internet services, with more than 100,000 people signing up to
NatWest's Internet banking service since its introduction in November. An average of more than 1,700 a day have joined since the beginning of this
year, meaning that NatWest is well on its way to achieving its target of one million online users by the end of 2000. www.orange.net
