SMS can now be used for mobile banking and to make payments. Today Yodlee Inc. announced that it launched a new SMS banking capability for its Yodlee Mobile Solution. Yodlee Mobile SMS alerts can help customers avoid overdraft fees, while users can use the service to check balances, review transaction, view spending reports and even make emergency bill payments.
”It’s clear that mobile banking strategies need to incorporate at least two key elements: 1.) ubiquity of access via multiple channels and 2.) relevant, personal content that delivers what consumers really need when they’re on the go,” said Peter Hazlehurst, SVP of product development at Yodlee. “Yodlee is addressing both these needs with a wide distribution channel (users can access their content via a mobile web browser, SMS), and by leveraging our core strength: secure access to virtually all financial accounts in a simple mobile interface.”
Yodlee Mobile offers SMS/text messaging capability as well as WAP browser functionality.