Firethorn to Enable Mobile Banking and Payments Services for Cingular Wireless

Firethorn announced a strategic alliance with Cingular Wireless which will give Cingular Wireless customers access to mobile banking and payments services. Firethorn is the only mobile banking and payments provider Cingular has authorized on its network.

"Firethorn is the gateway between wireless carriers and financial institutions that enables mobile banking and payments for consumers anytime, anywhere and on virtually any device they choose," stated Firethorn Chairman and CEO Tripp Rackley. "Firethorn is uniquely qualified to deliver mobile banking and payments because our heritage and leadership
represent unparalleled success in wireless communications, banking and electronic payments."

"It is the right time for the wireless industry to begin moving ahead with mobile banking," said Mark Collins, Cingular's vice president for long-term products and services planning. "Two-thirds of America's 300 million people now use wireless phones and nearly 60 percent of wireless customers use their handsets for something other than making calls. It is only natural that we move the ease, convenience and efficiency of electronic banking onto the wireless device. With the simplicity of its single pathway, Firethorn will make it easy for Cingular to work with financial institutions who want to deliver mobile banking services to our customers."

Using Firethorn's solution, consumers will be able to perform banking and payments functions on all supported Cingular handsets. A secure, Cingular-signed application will enable users to view account balances, transfer funds, receive and pay bills, and quickly clear contents if their mobile device gets lost or stolen.

Firethorn is currently testing its mobile banking and payments application and expects the commercial launch to take place in 2007.