BBVA Bancomer is to offer both English- and Spanish-language wireless financial services to its customers in Mexico and the United States. The proposed solution will deliver a full suite of mobile banking services to more than 9 million consumers in North and South America.
BBVA is to use the 724 Solutions Financial Services Platform to enable customers with mobile phones, personal digital assistants (PDAs), and pagers to gain access to real-time financial information, including: account information and statements, transaction details, intra-bank transfers, and bill payments. The service will also feature value-added content such as news, weather and financial market updates.
The bank says its current range of online banking and securities trading services are being used by up to 5000 companies and 20,000 individual clients on a daily basis.
"We recognised early on the value of the Internet as an important means of expanding the value BBVA Bancomer brings to our customers," says Mario Laborin, the bank's director of new business.
According to research firm Ovum, market penetration of cellular subscribers in Mexico is expected to reach 51 per cent by 2005, with close to 10 million mobile e-commerce users. Jupiter Communications projects that Mexico - along with Brazil and Argentina - will dominate the market for online commerce in Latin America, with Mexico accounting for 19 per cent of online shoppers by 2005.