Mobile banking technology provider Monitise has launched Alerting+, an alerting solution which enables two-way interaction between financial institutions and their mobile banking customers.

Alerting+ is real-time, which means users can see the build-up of their banking transactions and avoid penalties. Its two-way capability allows customers to take action, for example by shifting funds to or from a savings account, or by applying for a loan or overdraft, the company said.

"Alerting+ represents a new opportunity for banks to develop a deeper relationship with customers, moving from a simple notification process to actionable conversations that help consumers manage their financial livelihoods," Jason Malo, CEB TowerGroup's retail banking research director, said in a statement.

Banks using Monitise's mobile banking platform can use Alerting+, and banks with other vendors' core mobile banking platforms can use Alerting+ as an add-on, Monitise said.

Alerting+ unifies all channels including online and mobile, and generates revenue for FIs by creating selling opportunities, according to Monitise. It also prevents fraud by alerting customers about unusual transactions, allowing them to take immediate action. It works with a variety of messaging channels, including SMS, push notification, email and IVR, Monitise said.

"Alerting+ gives us the ability to communicate with our customers in real time and develop two-way conversations that resolve critical account issues and help them manage their money more effectively," Greg Jacobi, Webster Bank's senior vice president, said in a statement.