Five years ago Wells Fargo & Company (NYSE:WFC) launched Wells
Fargo Mobile(wf.com), a browser-based mobile banking
solution enabling its customers to access their Wells Fargo financial
relationship on their mobile device. Since then, customers have
initiated more than one billion sessions through Wells
Fargo Apps, wf.com
and text
banking. In fact, mobile is the fastest growing distribution channel
in the history of Wells Fargo – twice as fast as the online channel –
serving 8.5 million customers.
“As the first major financial institution to offer online banking in
1995, we looked forward to serving our customers, whose financial needs
are time-sensitive and complex, through mobile devices,” said Jim Smith,
executive vice president and head of Wells Fargo Digital Channels Group.
“Mobile banking has changed the way a lot of people bank. It helps
customers stay on top of their finances and act immediately, whether
they want to check an account balance, pay a bill or transfer money to a
friend.”
“The mobile web looked significantly different in 2007 than it does
today. The iPhone had just been introduced, and mobile web access was
limited. Today, we see a proliferation of new mobile technology, 4G
access in most parts of the country, and a variety of money management
tools available on mobile devices,” said Brian Pearce, senior vice
president and head of the Retail Mobile Channel at Wells Fargo’s Digital
Channels Group. “We have always believed in choice – allowing customers
to bank with us where, when and how they want. Today, customers are on
their mobile devices, and it’s important for us to connect with them and
be able to provide our financial services on the spot.”
When Wells Fargo mobile banking launched in 2007, customers could check
balances, view transactions, and transfer money. Since then, Wells Fargo
has introduced a variety of new mobile offerings, including Apps
for Android, iPhone, BlackBerry and Palm devices, alerts
and mobile
bill pay services. In addition, Advanced
Access was added that enables customers to receive a one-time
passcode on their mobile devices to authenticate their online
credentials.
Most recently, Wells Fargo initiated a pilot of its Wells Fargo Mobile
Deposit service where customers can deposit most checks directly into
their eligible Wells Fargo checking or savings account using the Wells
Fargo Mobile App on supported Apple and Android devices. It’s
currently available in seven states, with plans to expand throughout the
country by year end. Earlier this year, Wells Fargo announced the launch
of Send & Receive Money, which enables Wells Fargo and Bank of America
customers to send money to and receive money from one another using just
an email address or mobile phone number.
Looking forward, Wells Fargo will continue to develop mobile banking
applications that draw on the unique functionality offered through
mobile devices. Wells Fargo mobile banking is a graduate of Wells
Fargo Labs, a testing and development environment where customers
are invited to engage and interact with products in order to collect
early feedback during the development process. Wells Fargo uses the Labs
environment to develop innovative banking solutions that offer customers
more financial convenience and transparency.
“Mobile Banking is now mainstream; consumers and small businesses love
the ease and convenience of transacting anytime, anywhere,” added
Pearce. “By listening to our customers, we’ve created a whole new way
for them to stay on top of their finances in a safe, secure and
confident manner.”
Our Online
Security Guarantee provides added protection against unauthorized
access to customers’ accounts. Visit https://www.wellsfargo.com/privacy_security/online/guarantee
to learn more.
About Wells Fargo Online, Mobile and Text Banking
Wells Fargo is a leading provider of online and mobile financial
services for individual consumers, small and middle market businesses,
and large corporations with a full range of banking, money movement,
investing, asset management, and other financial and risk management
products. Wells Fargo was recognized by Bank Technology News on
"The Innovators" list for its online banking services (2012). Keynote’s
Mobile Banking Scorecard named Wells Fargo winner in two categories:
Privacy & Security and Quality & Availability (2012). Keynote’s Small
Business Scorecard named Wells Fargo #1 overall four straight years for
its service to small businesses online (2012).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.3 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com),
and has offices in more than 35 countries to support the bank’s
customers who conduct business in the global economy. With approximately
265,000 full-time equivalent team members, Wells Fargo serves one in
three households in United States. Wells Fargo & Company was ranked No.
26 on Fortune’s 2012 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and help
them succeed financially.
