The next innovation in mobile banking technology may be here. Today, UK-based company announced a comprehensive mobile banking service that combines the functions of bill pay servicers, mobile banking applications, and account aggregators, all into a one-stop-shop on your iPhone or Palm Pre.

The reason why MoBank has caused such a buzz is that it is the first in what is expected to be a long line of payment servicing companies that are created specifically for mobile devices. Building on the huge growth experienced in online and mobile banking in the last few years, MoBank is hoping that its free, convenient banking service will capture the large audience of consumers who do the majority of their banking from their mobile phone.