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Wells Fargo launches mobile banking service

24 July 2007  |  8622 views  |  0 mobile keypad

US banking group Wells Fargo has launched a browser-based mobile banking application that allows customers to check balances, view their transaction history and transfer funds between eligible accounts using their hand sets.

Wells Fargo says the m-banking service works on all Web-enabled mobile devices. Once enrolled, customers can use the wireless banking system by accessing the bank's mobile banking URL.

The bank says that its mobile banking software determines the specifications of the handheld device accessing the service. The system is also protected by the same security technology as its Web banking services and all transactions are covered by its online security guarantee.

Commenting on the m-banking service, Jim Smith, EVP and managing head of Wells Fargo's Internet services group, says: "Customers can act immediately no matter where they are, whether they want to make sure they have enough money in their account or make a transfer between accounts."

"Customers' financial needs are time-sensitive and complex, and we considered this when we built our solution for mobile devices," adds Smith.

In May Wells Fargo rolled out a mobile business banking platform for business, called CEO Mobile, to selected clients. The system delivers key treasury reports through a secure browser and will be extended to include new functions later this year including wire approvals, image positive pay exceptions and administrative tools such as password resets.

The bank is also working with Visa to launch a public trial for mobile contactless payments later this year. The public pilot follows positive feedback from an internal laboratory trial conducted by the bank in April. Up to 50 Wells Fargo employees will take part in the pilot and will use the technology at merchants that accept Visa's payWave contactless cards.

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