Mobile Banking Service covers range of functionality.
June 24, 2008 -
Delivering browser-based mobile banking for commercial customers, CEO Mobile(SM) offers key reporting information - balances, float, account activity, wire detail - and also supports wire transfer initiation/approval. Image positive pay capabilities let users view check exceptions, including check image, when deciding to pay or reject them. Additional functionality covers managing and deciding potentially fraudulent ACH transactions as well as viewing balance/reporting information.
Mobile Wire Services, Image Positive Pay Now Available to CEO Mobile(SM) Users
SAN FRANCISCO, June 10 -- Wells Fargo & Company (NYSE:WFC) -- the only provider of browser-based mobile banking for commercial customers -- has added wire transfer services and image positive pay functionality to its CEO Mobile(SM) service. CEO Mobile service is a streamlined, mobile-optimized version of the company's award-winning Commercial Electronic Office(R) portal.
"Our customers told us they wanted to handle wires and check exceptions without being at their desks," said Megan Minich, who leads the CEO Channel team for Wells Fargo's Wholesale Internet and Treasury Solutions group. "And when our customers give us feedback, we act."
CEO Mobile users now can initiate and approve wires. Meanwhile, image positive pay gives mobile customers the ability to view exceptions, including the check image -- an important protection against fraud -- when deciding to pay or reject check exceptions.
In addition to the new services available to all CEO Mobile users, additional functionality is being piloted. These pilot users can manage and decision potentially fraudulent ACH transactions, view even more balance and reporting information, and company administrators can perfect tasks such as resetting user's passwords.
"These new functions give our customers more convenience than ever -- they can perform critical banking tasks anywhere they can use their mobile device," Minich said. "The CEO Mobile service gives our customers the freedom to make decisions wherever they are."
"I was recently able to travel on business without my laptop, which is something I rarely do," said Laurie Steele, treasurer for Marion County in Oregon. "In fact, on my first day away from the office I realized we needed to pay a vendor to meet the contract payment terms. I initiated the wire payment on my cell phone, and since we have dual control processes a secondary approver was able to release it from the office. It was all done in a matter of minutes."
Wells Fargo introduced the CEO Mobile service to a select group of customers in April 2007, becoming the first and only major U.S. financial services company to offer mobile commercial banking. In addition to the newly added functionality, the CEO Mobile service delivers key reporting information -- including balances, float, account activity and wire detail.
Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (http://www.wellsfargo.com/) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA." Company Information: Name: Wells Fargo & Company Address: 420 Montgomery Street City: San Francisco State: CA ZIP: 94104 Country: USA Phone: 800-956-4442 http://www.wellsfargo.com/
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