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HSBC and first direct will be the first banks to offer customers the next generation of mobile phone banking later this year when their services go live on the MONILINK network, a new UK mobile banking platform from the UK's cash machine network, LINK.

For the first time, consumers will be able to get 'on demand', 24 hour secure access to banking services including mini statements and balance enquiries through their mobile phone. They will also be able to top-up their own or somebody else's prepay mobile. To use the service, consumers need only download an application onto their phone. As with online banking, once registered and authenticated people will have secure access to their accounts - wherever they are.

The service complements internet and phone banking pioneer first direct's text message banking service - a UK first at its launch in 1999. This existing service offers weekly or monthly mini-statements plus 'event-based' texts which can, for example, tell customers when their salary arrives.

MONILINK has been developed over the past three years by LINK and IT development firm Morse. MONILINK was recently recognised by the World Economic Forum as a 'technology pioneer' which can have a 'life changing impact on a global scale'.

Richard Kimber, chief executive of first direct, said: "first direct pioneered text message banking six years ago and we now send around 40 million texts to our customers every year, helping them manage their money. first direct is famous for its commitment to innovation and ground-breaking service. We see MONILINK as the natural next step for mobile phone banking, offering a snapshot of your finances whenever you need it, day or night."

Alastair Lukies, MONILINK's chief executive, added: "Having worked with mobile operators and banks for over three years to develop this network we are excited to have one of the world's largest and most innovative banks leading the service to market. The UK is a centre of excellence for banking and mobile technology, so it's fitting that we are launching our first network in the UK with industry leaders that have global reach. We are also developing similar platforms in other countries through our partners."

ENDS

Media enquiries to Rob Skinner on telephone 020 7992 1571 or email robskinner@hsbc.com

Notes to editors:

HSBC and first direct's existing electronic banking services
HSBC gives customers free branch and telephone banking. Internet banking is also available 24 hours a day, seven days a week. The HSBC bank account also includes free Price Promise Insurance. This service enables customers to claim back the difference on branded goods they have purchased on the UK high street with their HSBC Bank debit card if they should find the identical item for at least £10 less within 60 days.

first direct is the UK's most recommended bank and offers customers comprehensive internet, telephone and text message banking. Customers can log on or talk to a real person 24 hours a day, seven days a week. first direct was the first bank in the UK to introduce text message banking (1999). Since 1999, it has sent over 120m texts to customers. It sends around 40m texts a year.

• Customers can receive weekly or monthly mini-statement on up to three accounts for free
• For £2.50 a month customers can also receive personalised text alerts, for example telling them when their salary has been paid in or when their account threatens to go into the red.
• firstdirectory customers will get these additional services for free.

About MONILINK

MONILINK is a secure mobile banking network developed over the past four years in the United Kingdom. The company is a joint venture between LINK, the operator of the UK ATM network, and Morse plc. one of Europe's leading technology development and consulting companies.
The company uses the trusted technology and operational capability of the LINK interchange network which is connected with 37 of the UK's leading retail banks and building societies. This allows LINK's portfolio of services, such as balance enquiries, mini statements and mobile prepay 'top ups' to be delivered to the broadest group of banking consumers. MONILINK has also been developed in collaboration with banks, building societies and mobile operators to facilitate the delivery of a much broader range of banking services over the mobile channel.
The service is powered by Monitise Ltd, a division of Morse plc. which specialises in mobile banking technology and is currently developing similar platforms to MONILINK for a number of other geographies through a network of partners.

HSBC Bank plc
HSBC Bank plc is a wholly owned subsidiary of HSBC Holdings plc, and a member of the HSBC Group. HSBC Holdings plc serves over 125 million customers worldwide through some 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$1,502 billion at 31 December 2005, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

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