Wells Fargo, the first major U.S. bank to offer mobile services for its corporate and commercial customers, announced last week that businesses have deposited more than $1 billion through its CEO Mobile Deposit service.
The CEO Mobile app allows customers to use their mobile devices to scan and deposit checks and money orders.
“Businesses are looking at technology and innovations all the time,” Secil Watson, the head of the bank’s wholesale internet solutions division, said. “They want new ways to be more efficient and therefore save time that they can devote to serving their customers. 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 deposits.”
The CEO portal offers corporate and commercial customers single sign-on access to almost 90 online banking apps and reports. The CEO Mobile is an extension of the portal, allowing business customers to access services on the go.
“Before CEO Mobile Deposit, it took too long for our off-site teams to get checks into the office,” McKinley Equipment and Elevator CFO Kevin Rusin said. “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.”