A new technology from Norway promises a radical change to mobile banking. The technology allows Norwegian banking customers to accomplish basic services like bill payment and money transfer on their mobile phones with almost no need to key in information.

Norwegian IT company EDB ErgoGroup ASA, the company behind the new mobile banking technology, calls the new solution Mobilbank 2. According to an announcement of the product, the new technology uses graphic elements and visualization to streamline the mobile banking experience.

"The bank of the future will be in the customer's pocket, and will be open for business wherever and whenever the customer wants. However, users want not only accessibility, but also user-friendliness," Ann Merethe Lysø Sommerseth, head of self-service banking channels at EDB ErgoGroup, said in the announcement. The new solution makes simple transactions like paying a bill three times faster than current mobile banking solutions, she said.

The company said it has also built the solution as a Web application making it possible to develop one solution across all types of mobile operating systems.

"We think that future trends will increasingly favor Web applications. Using Web applications means that the entire value chain, from customer and supplier through to developer, no longer needs to deal with a range of different applications and adaptations depending on which type of telephone and operating system is used," Lysø Sommerseth said. "With Web applications, the lead time from the start of development to delivery of a new product is much shorter, and the entire development process is more cost effective."

The technology is currently only available to customers of Norwegian banks.