Natwest, determined to build a profile for itself in the online banking world, has joined forces with Yahoo to enable its customers to check their accounts through the portal site.
The agreement will form part of Natwest’s free Internet service provider. The portal will let registered Yahoo users check emails, news and share prices and stay up up to date with their Natwest account balances and transactions each time they go to either Yahoo Finance or My Yahoo.
In addition, users of Natwest’s new Natwest Online free Internet access service will have access to Yahoo UK & Ireland from their home page.
"This is the first relationship of its kind in Europe," explained Andy Ross, director of strategy and electronic commerce at Natwest. "Internet users will be able to seamlessly access their Natwest account information through Yahoo."
Both Yahoo and Natwest will use the Secure Sockets Layer (SSL) security standard. During transmission over the Web, SSL encrypts data to protect it being read by anyone other than the intended recipient. All financial transactions will be performed securely on the Natwest Web site, confirmed the bank.
In addition to a Yahoo ID and password, users will create a Yahoo Security Key, a separate password designed for secure services.
The service will be available from the end of next month and it is the first time that Yahoo has joined with a bank in Europe.
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