Manage your finances with mobile banking

Learn how mobile banking can help you manage your finances and streamline your cash flow on a variety of mobile devices.

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Published: April 11, 2012

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TEGAN JONES:

Hi, I’m Tegan Jones for the Wells Fargo Business Insight Series. Today we’re discussing how mobile banking can help business owners manage their finances more efficiently and effectively. I’m here with Brian Pearce, Senior Vice President and head of the Retail Mobile Channel at Wells Fargo’s Internet Services Group. Thanks for joining me, Brian.

BRIAN PEARCE:

Thanks so much for having me, Tegan.

JONES:

Over the past five years, I know that technology has done a lot to change the way business owners run their businesses, especially in regards to banking. And mobile is clearly the next step in that evolutionary process. Can you share a few of the ways you’ve seen mobile banking help business owners manage their finances?

PEARCE:

Absolutely. You know, when we talk to small business owners, the thing we hear over and over again is just how pressed for time they are. They’re so busy running their businesses, they don’t necessarily have time to manage their finances like they’d like to. The great thing about mobile banking is it’s an easy way to monitor their accounts 24/7 – a quick look at what their balances look like, to see if those deposits have posted, if their checks have cleared and quickly pay bills while on the go.

JONES:

Can you talk a little bit about how mobile banking helps business owners streamline their cash flow?

PEARCE:

Sure. The great thing about mobile banking is, we’ve got quick access to doing things like transferring money, so that if you’re looking to cover checks or you know there’s a deposit just came in, you can quickly get on to our mobile service and move money between checking and savings accounts. Then you can also use mobile banking to make bill payments.

JONES:

Yeah, that’s really convenient. I know that being able to manage your accounts and pay your bills on the go is something that business owners use really frequently. But is this service something that only people with the latest smartphones can use?

PEARCE:

That’s a great question, Tegan. One of the things that’s important to us is to make sure all of our customers have access to mobile banking services. And for folks that don’t have the latest phones or only have a text service, we have a text banking service that they can access. It’s a really quick and convenient way to get access to balances and recent activity. And what we see is that many times, even customers with the latest phones will use our text banking service just for a really quick checkup on their finances during the day.

JONES:

What about security? Is it safe to do your banking on your phone?

PEARCE:

It definitely is. The great thing about mobile banking is we’ve taken our 15 years of experience in online banking and used that as a foundation to build out our mobile banking services. And then we’ve added the new layers of security that are unique to mobile. Backing all this up is the Wells Fargo online security guarantee that covers everything we’re doing in the mobile channel.

JONES:

It’s always good to have an extra layer of protection.

PEARCE:

Absolutely. It gives customers peace of mind.

JONES:

Thanks again for your time today, Brian. You’ve really provided us with some great insights.

PEARCE:

Thanks so much for having me, Tegan.

JONES:

And thank you for joining us for this segment of the Business Insight Series. To learn more about how Wells Fargo mobile banking can help you, visit www.wellsfargo.com/biz. In the meantime, we wish you continued success.

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