Mobile Banking Updates - Apr 11

Wells Fargo’s Latest Mobile Innovation: Commercial Card Expense Reporting
"In its latest addition to a growing number of corporate banking services, Wells Fargo & Company (NYSE:WFC) today announced that its WellsOne® Commercial Card customers can manage their accounts and capture expenses with smartphones.

Through the CEO Mobile® service, WellsOne cardholders are now able to add out-of-pocket expenses, view charges, and check available credit – right on their smartphones. And WellsOne Commercial Card program administrators can view and edit credit limits and review declined transactions."

What the Big Banks Think of Mobile Banking
"Researchers predict that more than half of us will own a smartphone by the end of the year, and even people who consider themselves tech-shy probably have an ordinary cell phone in their purse or clipped to a belt. Not just for texting or surfing the net, these devices are at the cutting edge of the way we interact with our financial institutions.

A rapidly growing number of activities you can do in person or via a phone call can now be accomplished - sometimes faster, because there's no waiting in line or on-hold time - with a few taps of the keyboard on your cell phone. In fact, five years from now, Javelin Strategy and Research predicts that 86 million of us will use our mobile phones to conduct our banking activities."

Consumer Adoption and Satisfaction with Mobile Banking Surges in 2011
"In a recent mobile banking research study commissioned by FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, results show that 50 percent of all smartphone owners used mobile banking within the last 30 days and that 76 percent of mobile banking users were satisfied with their experience – a 16 percentage point gain in satisfaction from 2010."

Mobile banking: SMS can provide marketing, security and services for finance
"As smartphones have fuelled an incredible surge in applications, there has also been a retro-effect on older technologies. More and more institutions are seeing how the humble SMS can be used to provide very modern services. We spoke to Roland Foller, director of product management for mobile messaging at MACH, to find out the ways it’s using messaging to provide services for banks and financial institutions."