The companies have entered an alliance to provide financial services companies with the opportunity to offer wireless access to wealth management, account aggregation, mobile trading, and credit card and payment alerts services.
In a joint statement, they claimed that the venture aims to provide "a standard, highly scalable and secure end-to-end infrastructure for implementing robust, high-volume services across multiple financial channels".
Anders Myquist, vice president of marketing and strategy at Ericsson Internet applications, said, "We have already started providing mobile financial services, and are working with customers today in the marketplace. We expect to roll out our wireless financial offerings during the course of the year."
Ericsson, the mobile telephone operator, will provide the wireless telecommunications expertise, and IBM, the information technology and financial services know-how. IBM will also provide business innovation consulting and IT integration services.
IBM and Ericsson's next generation mobile Internet services combine Ericsson's Mobile e-Pay, Safetrader and WAP Gateway with IBM's WebSphere Everyplace Suite and the IBM eServer family of products.
Rival mobile technology company Vodafone has already reached an alliance with Cap Gemini to provide mobile technology consulting and integration services to companies.