Ericsson in first mobile portal venture in Morocco

Ericsson Maroc, a unit of Swedish Ericsson group, and Morocco's Finance.com will launch the first mobile portal for financial transactions in Morocco early next year, a Finance.com manager said on Tuesday.

Finance.Com is a holding that controls, among other entities, leading BMCE bank.

The agreement was signed last week. "The portal, which will be operational by the beginning of 2002, will be specialized in banking, real time mobile brokerage and online ticketing," the manager said.

It will use a high technology tool called Mobile Financial Solutions to secure transactions and will be applied later on to other BMCE subsidiaries. The platform is used by international financial institutions such as Citigroup, Bank of America and Charles Schwab Corp.