Today, Wells Fargo celebrates the 5th anniversary of its mobile banking service. To commemorate this milestone, we invited Brian Pearce, senior vice president and head of the retail mobile channel in Wells Fargo’s Digital Channels Group, to share how mobile banking can help us all be a little “greener.” (—SR)
I am constantly amazed at how much things have changed in the past five years. When Wells Fargo launched mobile banking in 2007, the iPhone had just been introduced and mobile access was spotty.
Today, mobile technology is much more sophisticated. We see a proliferation of mobile devices. According to Pew Research, nearly half the country uses a smartphone, and mobile access has improved significantly. This affords us the opportunity to develop more mature mobile banking products, such as bill pay, alerts and money transfers.
Not only does this kind of banking innovation help customers achieve their financial goals, it also helps them reduce their environmental footprint. Before this, customers had to drive to a Wells Fargo store to conduct transactions, fill out a deposit slip, and collect a receipt—steps that all have an impact on the environment.
Now, customers can conduct these transactions from their mobile devices, saving time and money on gasoline and paper, for example.
I still remember my first mobile banking “Aha moment”: I was on a road trip with my wife nowhere near a Wells Fargo store when I remembered I hadn’t transferred money to cover a scheduled payment. I was able to login through my mobile device and transfer funds between accounts—no detour to a store required.
Since then, I conduct as many transactions through mobile and online banking as possible in order to be more efficient and greener.
Customers often share similar stories with me. Take Curt Fissel, a Wells Fargo online banking customer and award-winning videographer and photographer who frequently travels for work. Curt’s job has taken him to far-flung places like the Bwindi Impenetrable National Park in Uganda where he interacted with rare Silverback Mountain gorillas—their population is estimated at less than 800 worldwide.
For Curt, mobile and online banking allows him to pay bills, check transactions, and receive alerts from virtually anywhere in the world, giving him peace of mind so he can focus on producing documentaries and images that capture the beauty of our planet.
I encourage everyone to think about how they can incorporate mobile banking into their lives to stay on top of finances and help the environment.
Tell us how you use mobile banking to stay “green.” What is your favorite mobile banking feature?