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Commerce Bank launches mobile private banking service

16 May 2007  |  1652 views  |  0 Source: Commerce Bancorp

Commerce Bancorp (NYSE:CBH), "America's Most Convenient Bank," today announced that its proprietary, web-based private banking platform, Virtual Private Bank, is now available for its customers via their Blackberry, Treo or any other PDA with an internet browser, including the iPhone.

While other financial service firms offer account aggregation services and calculators online, Commerce Bank is the first to deliver a highly sophisticated wealth management tool onto a wireless device, allowing customers to view all their pertinent information.

The move enables Commerce Bank's private banking customers to seamlessly access all of the information they need and care about, on a device that they typically never leave home without. This technology equips clients with an up-to-date financial picture of all of their assets, and organizes other important information -- such as stock trackers, medical and insurance information, account numbers, world news, weather, sports and even their favorite wines.

"Private banking customers need to be able to see all of their updated holdings wherever they happen to be," said Commerce Bank Founder and Chairman Vernon W. Hill. "Moving Virtual Private Bank onto customers' Blackberries and other mobile PDA devices was the next logical step for Commerce, giving high net worth customer's instant access to their private banking information and important data from poolside, in their cars or on the golf course."

Virtual Private Bank is provided through eMoney Advisor (http://www.emoneyadvisor.com/), a wholly owned subsidiary of Commerce Bank and a leading provider of holistic wealth planning and client-management solutions for the financial planning industry. eMoney Advisor was acquired by NJ-based Commerce Bancorp in January 2006 -- uniting "America's Most Convenient Bank" with America's best online wealth management system.

Commerce's Virtual Private Bank offers an aggregated, comprehensive view of clients' financial portfolio, aggregating all of their assets -- from stocks and bonds, to artwork and even frequent flier miles and other point programs. In addition to highly sophisticated planning and scenario analysis tools, Virtual Private Bank also provides an online document storage Vault, so clients always have access to key legal, medical and financial documents.

"Commerce Bank understands that strong private banking operations rely on marrying top financial experience with concierge-like services for its customers," said Edmond Walters, CEO of eMoney Advisor. "Taking Virtual Private Bank into the wireless space brings the best of technology and service to its customers, highlighting the convenience that the bank is famous for."

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