|[March 27, 2014]
Businesses Deposit $1 Billion Through Wells Fargo Mobile App
SAN FRANCISCO --(Business Wire)--
Wells Fargo (News - Alert) & Company (NYSE:WFC) - the first major U.S. bank to offer
mobile services for corporate and commercial customers - today said that
businesses have made more than $1 billion in mobile deposits through its CEO
Mobile® Deposit service. With the
Mobile iPhone app, customers can use an iPhone (News - Alert) or iPad to
quickly scan and deposit checks and money orders conveniently and
securely, enabling them to speed up their cash flow.
"Businesses are looking at technology and innovations all the time. They
want new ways to be more efficient and therefore save time that they can
devote to serving their customers," said Secil Watson, head of Wells
Fargo Wholesale Internet Solutions. "Our CEO
Mobile services are essential for these companies. For
people who are always on the go or out of the office, mobile deposit
capability is a major asset because it does something huge: it
eliminates the time spent driving to the bank or the office to make
Equipment Corporation, a distributor of material handling equipment
and a provider of retail store maintenance services, and McKinley
Elevator Corporation, a distributor of home elevators and
accessibility equipment, are two family-owned busineses under the same
roof in Irvine, Calif., whose 101 combined employees serve customers in
California, Nevada, and Arizona. The two companies are typical of the
growing number of businesses that rely on the CEO Mobile Deposit
"Before CEO Mobile Deposit, it took too long for our off-site
teams to get checks into the office," said Kevin Rusin, chief financial
officer for both McKinley companies. "Now my sales team, installers, and
service technicians always use CEO Mobile Deposit. They snap a
photo of the check upon receipt and start the process. The account
receivables time is down and customers' orders are not delayed.
"Every single one of the CEO Mobile services allows me to stay on
top of and run my business, whether I'm on vacation, traveling for work,
out of the office or at a meeting," added Rusin. "This allows my
business to continue to push forward, and there are no delays, which
ultimately makes my customers happier."
About the CEO® portal and the CEO
Commercial Electronic Office® (CEO)
portal offers Wells Fargo commercial and corporate customers single
sign-on access to nearly 90 online banking applications and reports,
including cash management, credit, investments,* foreign exchange, trade
finance, capital markets, trust, insurance,* and health benefits. The CEO
Mobile service is an extension of select CEO portal services,
giving customers the ability to access accounts and make important
decisions when they're in a meeting, on the go, or traveling. Customers
can use the CEO Mobile service to initiate and approve payments,
make deposits, receive alerts, review balances and reports, transfer
funds, manage business expenses, and administer and reset passwords.
For Wells Fargo's retail customers, Wells
Fargo Mobile® Deposit has been available nationally
since November 2012. Using an Apple, Android (News - Alert) or Windows device, these
retail customers can easily deposit checks into their eligible Wells
Fargo accounts by taking pictures of the front and back of the check.
Note to Editors: Related video featuring Secil Watson of Wells
Fargo is available at Wells Fargo's YouTube
channel and of Kevin Rusin of McKinley companies at Wells Fargo's CEO
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified,
community-based financial services company with $1.5 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 9,000 locations, 12,000 ATMs, and the internet
and has offices in 36 countries to support customers who conduct
business in the global economy. With more than 264,000 team members,
Wells Fargo serves one in three households in the United States. Wells
Fargo & Company was ranked No. 25 on Fortune's 2013 rankings
of America's largest corporations. Wells Fargo's vision is to satisfy
all our customers' financial needs and help them succeed financially.
Wells Fargo perspectives are also available at blogs.wellsfargo.com.
*Nondeposit investment and insurance products are not insured by the
FDIC, are not deposits of or guaranteed by the bank, and may lose value.
©2014 Wells Fargo Bank, N.A. All rights reserved. Deposit and loan
products are offered by Wells Fargo Bank, N.A., Member FDIC.
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