Bank of Valletta customers can now effect banking transactions, view account balances and access a wide array of services through their mobile phone, following the launch of the BoV Mobile Banking service last week.
This new service delivery channel constitutes yet another first for Malta and follows on the success enjoyed by BoV's Internet, telephone and call centre banking services launched just under a year ago, the bank said in a statement. "BoV mBanking now forms an integral part of Bank of Valletta's 24x7 suite of services. These four delivery channels are all supported by a state-of-the-art Customer Service Centre."
The new BoV mBanking services were launched by Bank of Valletta chairman Joseph F.X. Zahra at Le Meridien Phoenicia Hotel, Floriana. Speaking on the bank's latest innovative delivery channel, Mr Zahra said the "launch of the BoV Mobile Banking channel is another 'first' for Bank of Valletta and for Malta. Last December, we were the first bank to introduce Internet Banking and Call Centre Banking to Malta when we launched a range of alternative banking delivery channels that also included a brand new telephone banking service.
"Today, a year later, we are yet again introducing another innovative concept in the field of alternative delivery channel solutions. MBanking forms an integral part of BoV's suite of 24x7 delivery channels.
Access to this channel is safeguarded by the state of the art security system provided by the BoV Securekey." Mr Zahra added that "given today's advancements in mobile technology and the widespread use of mobile phones in Malta where two out of every three people own a cell phone, we are today offering added convenience to our customers who now have yet another service delivery channel to choose from.
"Of course, this new service would have never been possible without the bank's extensive investment in its cutting-edge IT infrastructure. Our IT strategy has been proved right, especially when one considers the popularity enjoyed by our 24x7 services thanks to the efficiency, convenience and security features they offer."
Over 16,000 customers now subscribe to BoV's 24x7 suite of services since the project first went live last December. These have so far generated over 1.1 million transactions through the system.
"The mBanking channel builds on this convenience aspect which now literally puts BoV in your pocket," Mr Zahra said, concluding that "the launch of Mobile Banking consolidates BoV's position as the market leader in the provision of IT-based financial services.
"Moreover, this new concept of 'banking on the move' compliments our bank's philosophy of anticipating customer needs and lifestyles by offering not only products and services but also delivery channels that are in line with current and perceived future needs."
The new mBanking service is available to those mobile telephony users who already subscribe to Bank of Valletta's 24x7 channels. Vodafone and Go Mobile subscribers may access the WAP portals of both these mobile service providers and simply select the BoV mBanking icon to access the service.
The mBanking user will be requested to enter his User ID, as well as a one-time password generated by the BoV Secure Key. Customers may view accounts balances, including those of their fixed deposit accounts and loan accounts. Transaction history related to particular accounts, transfer money from one Lm account to another, the payment of credit card instalments, as well as deposit funds into loan accounts are also available, as is the payment to third parties, the latter even if these have accounts with other local banks.
Other services available are Utility Payments, such as telephone bills, water and electricity, cable television, Internet subscriptions, insurance premia and much more.
Transactions generated via the latter channel may now also be authorised and signed off via BoV mBanking. This added feature means that, thanks to his or her WAP phone, a signatory will be able to authorise any transaction when and where convenient with the same level of high-tech security provided by the BoV Securekey system.
Other services available through BoV's mBanking channel include the stop payment of lost or stolen cheques, the ordering of cheque books and statements, up-to-date information on rates of exchange, as well as information on the location of BoV's ATMs.