Wells Fargo has extended its mobile banking to
the Android, Blackberry and Palm smartphone handsets, a year after
launching the service for Apple’s iPhone.
The bank’s mobile banking, or m-banking
service, allows customers access to current account balances,
transaction history and credit card payment information as well as
the ability to transfer funds and pay bills.
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The move comes a few months after the bank
became the first in the US to make text banking available to all
its customers, including those not signed up to its online banking
service.
“Our goal is to make it even more convenient
for customers to access their account information – anytime,
anywhere – helping them save time and providing peace-of-mind,”
said Arah Erickson, head of retail mobile banking at Wells
Fargo.
Wells Fargo is competing against the likes of
Bank of America and
Citi who have ramped up their m-banking and text banking offerings
in recent months.
A report by Celent, the research and advisory
firm, went a step further to highlight how
m-banking is set to become the fifth distribution channel. The
company predicts that a new m-banking phase is about to begin where
banks and vendors attempt to differentiate themselves and meet
increasingly sophisticated customers’ demands.
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By GlobalData
