BANK ACCOUNTS, CREDIT CARDS

Lloyds TSB launches mobile banking app across four platforms

Lloyds TSB has launched a new mobile banking application that will be downloadable on Apple, Android, BlackBerry and Nokia smartphones.

Most banks and financial institutions are relying on mobile banking apps to expand their accessibility and bring their clients the chance to manage their money ‘on the go’. However, Lloyds TSB is the first UK banking app to be launched in all four app stores simultaneously.

The new mobile banking app has had more than 360,000 downloads so far, demonstrating its popularity.

Uses of mobile banking

From this new app, Lloyds TSB’s clients will be able to carry out most of their usual banking-related needs. Users could view account details and balances on their personal bank accounts, savings accounts and credit cards at any time.

In addition, they could also make transfers between their personal accounts, pay bills, set up new payments and locate the nearest Lloyds TSB branch or cash point.

Recently, Lloyds TSB launched its enhanced Mobile Banking service, which added Text Alerts and Money Manager its list of services.

Mobile usage

Since the emergence of Smartphones, mobile phones are used for much more than simply calling and sending texts.

The latest figures from Barclays Corporate revealed that m-commerce (making purchases through your mobile or tablet device) is expected to rise by 55% over the next five years.

It will be the fastest growth of any retail channel in the coming years, considering that online sales will increase by 8% and in-store sales by 1.6%. In contrast, mail order sales are expected to decrease by 1.2%.

The convenience of amending shopping lists, making payments and arranging delivery times via mobile are the aspects consumers suggested they liked the most about ‘on the go’ mobile purchasing.

Tags: banking services, LLOYDS, mobile-banking