A UBS Exclusive: Stock Market Trading via WAP.
Freedom and mobility are becoming increasingly important in our communication age. As a leading provider of e-banking services, UBS aims to keep one step ahead of this development. Starting July 18, UBS is offering a limited number of clients the opportunity to carry out their banking and stock market transactions via their WAP mobile phones. This service will then be made available to all UBS e-banking clients from the autumn onwards.
On 18 July, UBS begins a WAP pilot scheme involving a limited number of already designated participants, drawn exclusively from existing UBS e-banking clients. In addition to being able to use their existing e-banking documentation (contract number, password and scratch list), clients will be offered the service free of charge. The service will then be made available to all UBS e-banking clients from the autumn onwards.
What UBS e-banking wap can offer
UBS e-banking wap allows clients to access UBS e-banking, UBS Quotes, as well as a number of functions for personalizing their transactions, such as saving the contract number for e-banking, establishing their user ID and password for Quotes, and selecting the language they require - all through the UBS wap Homepage.
UBS e-banking wap is also unique in that clients can enquire about their account balance and custody holdings, enter stock market orders (buy or sell), monitor them, cancel them, and carry out account transfers and some foreign exchange transactions. Shortly after the launch UBS Quotes will be available in four languages.
Security is of utmost importance
Security conforms to the WAP Standard, and is comparable in quality to that of an Internet solution. A WTLS security protocol has been built into the connections, with the key length corresponding to the state-of-the-art security found on the Internet.
In order to ensure this high level of security, the client is required to connect with a "Secure Gateway" located at UBS. For this to occur, a special setting on the WAP phone is needed. This setting can be configured manually or via SMS messaging. The same authentication method (contract number, password and scratch list code ) is used as with the online e-banking on the internet.
In order to ensure the level of data protection required by UBS, this service is at present only available to users of Nokia 7110 mobile phones. The requisite security software does not as yet exist for other models. These restrictions are likely to apply only for the duration of the transition period, as the majority of WAP phone manufacturers are expected to meet the required security standards in the near future.
Zurich/Basel, July 18, 2000