Cellular South Launches Mobile Banking with BancorpSouth and Firethorn in a Move that Makes 'Cents' for Consumers and Businesses
Convenient, Secure Application Now Available to Cellular South Customers
JACKSON, Miss., May 5 (www.AllPayNews.com) -- Cellular South and BancorpSouth,
Inc. (NYSE: BXS), two Mississippi-based companies who are leaders in the
wireless phone and banking services industries, unveiled a mobile banking
application today that brings the convenience, flexibility and security of
online banking to the wireless phone.
The free wireless application is being offered in collaboration with
mobile payments provider Firethorn Holdings, LLC, a Qualcomm company, and
allows Cellular South customers to view account balances and history,
transfer funds and pay bills from their mobile handsets through a secure,
"Mobile banking is a convenient and secure method of managing money
through your wireless handset," said Cellular South President Hu Meena.
"Whether you're a college student or a busy business traveler, our mobile
banking application gives you the flexibility to pay bills or transfer
funds when you need to make financial decisions on the go."
An estimated 46 million households currently bank online according to
Celent, a Boston-based research and consulting firm focused on the
application of information technology in the global financial services
Additionally, a new Harris Interactive study of 1,072 U.S. adults shows
that the demand for mobile banking services among wireless customers is
continuing to grow, with 16 percent already using the services and another
35 percent open to checking bank account balances and transferring funds
via their mobile phones, smart phones or personal digital assistants.
Mobile banking users will need to have an account with a participating
bank, such as BancorpSouth, along with online access to their account,
which is free at most banks.
After signing in, users can initiate the mobile banking process through
a "mobile banking" link at the top of the online banking sign in page. The
link will take them to a form requesting information including the wireless
provider, phone model and phone type. Users can access and monitor multiple
bank accounts from the same application and PIN.
The site will provide a secure initialization code once an applicant
submits the finished form. To activate mobile banking, users must enter the
code into the mobile banking section of their handsets and set up their
secure PIN. Processing takes just a few seconds.
"We value our partnership with Cellular South and are excited to offer
the option of mobile banking to Cellular South customers," said Aubrey
Patterson, BancorpSouth's chairman and chief executive officer. "Managing
bank accounts from a wireless device is the next step in the future of
banking, and it will make banking more convenient for BancorpSouth and
Cellular South customers."
Cellular South will provide mobile banking through Firethorn, which
offers a secure application with a simple and easy to use interface.
Firethorn also allows users to access their accounts at different banks
from a single PIN, making the process more convenient.
"Mobile banking is the first step in introducing mobile commerce to
customers," said Tripp Rackley, Firethorn's chief executive officer.
"Firethorn is collaborating with these two wireless and banking industry
innovators to provide consumers the convenience of mobile banking, which
will expand the market and further drive adoption."
Cellular South has been a leader in wireless communications for 20
years. Offering exceptional service and a suite of m-commerce applications
to customers across the Southeast, Cellular South continues to make the
wireless lifestyle easily accessible. Mobile banking will provide yet
another innovative m-commerce solution for Cellular South customers.
About Cellular South
Cellular South is a privately-owned diversified mobile communications
company passionately committed to helping customers get the most out of
their wireless devices and services. The company accomplishes this goal by
providing the most reliable and advanced nationwide wireless voice and data
network, offering a full range of industry-leading unlimited flat rate
plans, and through the world's first integrated, interactive online and
in-store experience that gives customers easy, simple and convenient
solutions to all of their wireless lifestyle needs. For more information,
Headquartered in Tupelo, Mississippi, BancorpSouth Inc. is a $13.2
billion financial holding company that operates 290 commercial banking,
mortgage, insurance, trust and broker/dealer locations in Alabama,
Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas
with a staff of approximately 4,500 full-time employees. BancorpSouth and
its subsidiaries provide, in addition to traditional banking services,
mortgage origination and servicing, student loans, leasing, credit card,
trust and fiduciary services, brokerage, investment and insurance services.
For more information, visit http://www.bancorpsouthonline.com.
Atlanta-based Firethorn is a mobile banking and payment services
enabler that links financial institutions and wireless carriers through a
unified, secure and scalable technology platform that seamlessly extends
full-service banking and payment capabilities to consumers from any
financial institution to virtually any wireless device. By collaborating
with Firethorn, financial institutions and wireless carriers gain a
competitive service differentiator that improves customer retention,
generates revenue and answers customer demands for more product/service
convenience. For more information, visit http://www.firethornmobile.com.
SOURCE Cellular South