Wells Fargo Mobilesm Now Optimized for Apple Devices

In a recent press release, financial services company Wells Fargo announced an expansion of their Mobile Banking services catering to America's increasing reliance on mobile devices for financial management in addition to communications. Wells Fargo Mobilesm Banking service is now extended as a free application to iPhone™ and iPod® touch users by making it accessible from Apple’s App Store online. This new service is fully Apple optimized for iPhones and iPod touch users. Wells Fargo Mobile Banking allows customers to check account balances, move money within the bank, pay bills, and search for the nearest ATM or banking storefront.

Wells Fargo made this move because of research done by Aite Group, a leading independent research and advisory firm. Aite Group predicts that the mobile banking market will more than double in 2009 up to 21.1 million users in the U.S., and that the number will rise to 35 million users by 2011. According to their study, this number is affected by both consumer desire and technological innovation, including an increase in consumer's desire to access financial services remotely, an increase in mobile device penetration, more sophisticated devices, faster networks, and increasing familiarity with data applications.

According to Secil Watson, senior vice president of Wells Fargo Internet Services Group, keeping pace with consumer demand is an important part of the Company's plan for the future. “We’re committed to providing products and services that meet our customers’ evolving banking needs,” Watson remarked. “We’ve been providing the mobile banking service for nearly two years, and we know that customers want and demand convenient banking solutions that help them manage finances while on-the-go. We help them view accounts and take care of tasks anytime, anywhere -- whether it’s a customer in a taxi or a customer who realizes at the last minute that the utility bill needs to be paid before leaving for vacation.”

“Mobile phones are becoming an integral part of our customers’ lifestyles,” said Arah Erickson, head of Wells Fargo’s Retail Mobile Banking. “People are expecting to do so much more on their phones: check e-mail, get directions at a maps site or find a restaurant. That’s why we’re seeing ever increasing adoption of mobile banking. We have seen growth beyond our expectations.”