Guta Bank’s “Telebank” system allows its clients to remotely perform — over the phone or via the computer — any banking operations. The system allows them to pay invoices, public utilities; buy, sell and exchange foreign currency; keep money on currency accounts and make payments in roubles; transfer money from their accounts in the bank onto an international VISA-/ Eurocard/Master-Card and back. They have access to information about their balances and they can pay for goods and services they buy through the mobile commerce system. A multilevel authentication system ensures the security of the transactions.

WAP technology makes the access to the Telebank system more convenient and simple, due to a user-friendly interface. Andrei Anisimov, Guta Bank’s Vice-president, believes that an opportunity for the bank’s clients to use its services through WAP, will increase the monthly turnover of the Telebank system at least up to a million dollars in the near future.

The launch of WAP-banking services makes a mobile handset a useful and effective assistant of a businessman: it still provides all communications services; it can be used as an electronic organizer and the handset now also becomes an electronic purse. For example, thanks to this new service, MTS’s subscribers, who have accounts in Guta Bank, do not have to go to the company’s offices to pay for the communications services. All they need to is to visit Guta Bank’s WAP-site, fill in a form via their handset — and that’s it!

“Mobile banking is the first step in the development of the mobile commerce. Today a mobile phone user has the possibility to perform banking operations fast, easy and secure. In the near future a mobile handset will become a necessity for every person, to be used for shopping in real and virtual stores, to surf the Internet, to get access to entertainment. Constantly widening the range of services for its subscribers, MTS demonstrates its commitment to the strategy of turning a mobile handset into a multifunctional device that makes life easier and more comfortable,” said Shagit Reznikov, Director of the Value Added Services Division of MTS.

To use the mobile bank service a MTS subscriber only needs to buy a WAP telephone and sign a contract with Guta Bank.

At the first stage of the mobile bank project the WAP-banking service will be available within MTS’s coverage area, which today means 20 regions of Russia. At this initial stage MTS’s subscribers, who are also Guta Bank’s clients — will be able to perform payments via their WAP phones, pay for utilities and communications services.

In the next stage of the development of this mobile banking system, after the implementation of a WIM-module which ensures additional security, MTS’s subscribers will be able to perform any banking transaction. At the same stage mobile banking services will become available to MTS’s subscribers while roaming as well.