Wells Fargo has launched a mass-market mobile banking service available over wireless Web-ready Sprint PCS phones and Palm VII devices from anywhere in the US.
The service, dubbed Wells Wireless, uses technology provided by Toronto's 724 Solutions. Available free of charge to the bank's 2.5 million online banking customers, the service enables users to check account balances and statements and transfer funds between accounts.
Customers can also obtain stock quotes as well as track securities using the watchlists and stock alerts capabilities. Additional functionality, including a Wells Fargo ATM and store locator, bill pay and brokerage services are planned for future phases.
According to Forrester Research, almost 50 percent of the US population owns a cell phone and, according to Meridian, by 2003 there will be close to 8 million users of wireless financial services.