UK virtual bank First Direct has developed a transactional ‘banking-on-the-go’ mobile app, which is boldly claimed to change the face of m-banking in the UK.

The service will launch with Apple’s iPhone and iPod Touch handsets and will allow First Direct customers to check balances, view the last 20 account transactions, make payments and transfer money between accounts.

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The division of HSBC claims that it is the transactional capability that sets it apart from other mobile banking applications offered by banks such as NatWest, Royal Bank of Scotland (RBS) and Ulster Bank currently available in the UK market.

“To steal a phrase, this changes everything. Again,” said Matt Colebrook, CEO of First Direct.

“This [app] is about making the banking experience simpler and quicker, allowing our iPhone enabled customers to access key features of our internet banking; whenever and wherever they want.

“The iPhone app is as a huge step forward, but it’s just the beginning of our ambitions for mobile banking. Our plans for 2011 are to make our ‘on the go’ mobile services available on other smartphone devices.”

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Colebrook said First Direct chose to launch the app with the iPhone simply because that is where their customers are. He adds whilst Google’s Android handset is growing rapidly, “it’s nowhere near the iPhone just yet”.

While US banks have significantly more developed iPhone mobile banking apps available to customers, namely that of Bank of America (BofA) which announced that it reached a milestone of five million users in September last year, First Direct aims to stay ahead of the game in the UK. It plans to collect customer feedback through its social media forum in order to establish what new features are most in demand.

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