City University London - Chip and SIM

Researchers are aiming to provide better security for mobile-phone banking. A team of informatics and engineering specialists at City University London has received £135,000 from the Government's UK-India Education and Research Initiative for a three-year project to develop new security software. Muttukrishnan Rajarajan, assistant dean for e-learning at City, said the global goal was to provide mobile financial services to 20 million people who do not currently have bank accounts by 2012. He added that security concerns and the complexity of existing services are hampering progress.