Wells Fargo’s Mobile Banking Scores Pair of Independent Awards'Anytime, Anywhere' Approach Earns 2010 Future Mobile Award from Juniper Research, Gold Rating from Javelin Strategy
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) has won the 2010 Future Mobile Award from Juniper Research, an independent consultancy.
"Wells Fargo is an internet banking pioneer and we have extended this commitment to providing innovative mobile banking services. We are proud of our 'anytime, anywhere' banking capabilities and are honored to have our commitment recognized with this award."
The Future Mobile Awards are given to companies that have made a significant contribution to their sector and are poised to make considerable market impact in the future. According to Juniper Research, "Wells Fargo was chosen based on its multiple platform strategy and continued service innovation such as the recent near real-time warning of potentially fraudulent activity."
Arah Erickson, senior vice president, Wells Fargo Retail Mobile Banking, commented, "Wells Fargo is an internet banking pioneer and we have extended this commitment to providing innovative mobile banking services. We are proud of our 'anytime, anywhere' banking capabilities and are honored to have our commitment recognized with this award."
Wells Fargo MobileSM offers secure mobile banking which enables consumer and small business customers to access to their Wells Fargo accounts via three easy ways including text messaging (shortcode 93557), mobile website (wf.com), and downloadable applications for four of today's most popular smartphones and platforms. Customers may access wf.com through AndroidTM, BlackBerry®, iPhone and iPod touch, and Palm mobile banking applications ("apps") to quickly check their accounts, pay bills, transfer funds between accounts or to another customer, and find the nearest Wells Fargo ATMs. Wells Fargo also pioneered text enrollment for mobile banking, enabling customers to sign up for text banking directly from their mobile phones, whether or not they bank online.
Introduced in March 2010 to all Consumer Credit Card customers, Wells Fargo's Rapid Alerts are enabled by Visa's transaction alerts platform. An alert is sent to a customer's mobile phone directly from Visa's global processing network - typically within seconds of a transaction occurring.
Rapid Alerts enable customers to better manage and track their account activity while providing near real-time detection of suspicious transactions so customers may take immediate action if necessary. Rapid Alerts are triggered when transactions exceed certain thresholds previously selected by the Wells Fargo Visa account holders. Alerts are delivered via SMS text message to a mobile device. Wells Fargo cardholders may choose from threshold criteria that include:
- Transactions that exceed a dollar amount chosen by the cardholder
- Transactions initiated outside the United States
- Physical card-not-present transactions, such as purchases made online or by telephone
- Cash withdrawals from an ATM machine
- Declined transactions
- Gasoline transactions
"Wells Fargo has been a pioneer in mobile banking by offering all three access modes," said Mark Schwanhausser, senior analyst at Javelin Strategy. "Sometimes consumers prefer the speed of an SMS text, sometimes they prefer capabilities of a smartphone app, and sometimes they prefer to log on via a mobile browser. It's essential to provide a full range of access modes so customers can decide for themselves what's most convenient and practical."
About Wells Fargo Online & Mobile 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 launched its personal computer banking service in 1989 and was the first bank to offer Internet access to account balances and transaction history through wellsfargo.com in May 1995. Since January 2009, Wells Fargo has been named the No. 1 Consumer Internet Bank in North America by Global Finance Magazine, ranked the No. 1 website out of 68 leading U.S. corporations' websites for technology innovation by the Brookings Institution and was awarded two Monarch Innovation Awards by Barlow Research for online services for small business, including Foreign Exchange Online and My Spending Report with Budget Watch.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 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 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune's 2009 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.
Posted: August 23, 2010
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