Smartphones were just taking off when Wells Fargo launched its mobile banking platform five years ago. Then, adventurous tech users were able to check their balances and account activities using the most basic mobile web browsing applications.
Now, roughly 8.5 million users later, expectations for mobile banking capabilities are extremely high, says Wells Fargo Senior Vice President Brian Pearce. Beyond balance checking, peer-to-peer money transferring and activity tracking, today’s mobile banking users want features that are unique to the smartphone, like remote deposit capabilities and GPS-powered location features.
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In a conversation with PYMNTS.com, Pearce talks about how mobile banking has changed over five years, how the platform has impacted Wells Fargo’s larger business, and what to expect from mobile banking in the near future.
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