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T-Mobile, Erste team up to offer online banking services

Hungary's biggest internet service provider T-Online Hungary, a unit of Hungary's incumbent telco Magyar Telekom, signed an agreement with Erste Bank on Friday to launch an online banking service called Klikkbank, the bank announced. Under the agreement, Erste Bank will provide banking services on T-Online's web portal Retail and small corporate clients will be able to handle their bank accounts, apply for loans and even purchase investment funds online using the service, which is the first of its kind in Hungary according to the announcement. Because internet usage is expected to increase rapidly over the next several years, Klikkbank should prove an investment in a promising segment, T-Online CEO György Simó said. Klikkbank aims to attract people between the ages of 18 and 45 and expects to sign up 10,000 account holders a year, Erste president-CEO Péter Kisbenedek said.