The Prudential Insurance Company of America has introduced a wireless transaction and account management service to users of Palm handheld computers.
The service, which Prudential claims is the first of its kind in the US, will enable customers to move money between funds, change their contribution allocations, and rebalance their 401(k), 403(b) and 457 retirement accounts across a range of Palm devices.
The wireless platform offers the ultimate in accessibility, says Kerry Gile, senior vice president, sales & client service at Prudential Retirement Services. "We also enable participants to adjust their accounts over the Internet and via phone," Gile adds. "It's information and account management on demand - whenever our clients want it."
In 1999, Prudential Retirement Services became the first provider to offer wireless access to retirement plan information for users of the Palm VII organiser. The addition of transactional functionality will not require existing users to download new applications onto their Palm handhelds, says Prudential.
The Prudential unveiled the service just as Palm issued a warning that it has to cut jobs and fourth quarter forecasts in response to the slowdown in the US economy. The company is also postponing construction of its new corporate headquarters in California.