| AT&T, Wachovia launch mobile banking service
AT&T Inc. and Wachovia Corp. joined forces to launch an online banking system via cell phones that allows customers to view account balances, transfer funds and pay bills. According to Celent, a research and consulting firm, about 46 million households currently bank online. By 2010, 17 million households will use mobile banking as an alternative online banking source. "The ability to perform banking functions using a wireless handset is attractive for people who need to make financial decisions on the go - business travelers, college students and anyone who desires the flexibility that wireless delivers," said Mark Collins, vice president, Consumer Data, for AT&T's wireless unit. Mississippi-based BancorpSouth, which has a presence in the Birmingham market, also offers mobile banking through AT&T.
Wachovia adds mobile-banking service
Wachovia Corp. will launch an online banking system via cell phones that allows customers to view account balances, transfer funds and pay bills. The mobile-banking application will be pre-loaded on future AT&T Inc. handsets beginning this year. All wireless transactions will be encrypted. Customers will need an AT&T wireless data plan to access the mobile-banking service. According to Celent, a research and consulting firm, about 46 million households bank online. By 2010, 17 million households will use mobile banking as an alternative online-banking source, Celent says. "The ability to perform banking functions using a wireless handset is attractive for people who need to make financial decisions on the go -- business travelers, college students and anyone who desires the flexibility that wireless delivers," says Mark Collins, vice president of consumer data for AT&T's wireless unit.
PNC to acquire Central Jersey wealth management services firm
PNC Financial Services Group Inc. has agreed to acquire a provider of portfolio accounting and wealth management services. PNC Chairman and CEO James Rohr said Albridge Solutions Inc. of Lawrenceville, N.J., will broaden the offerings of PNC's PFPC Worldwide Inc. investment services unit. Albridge provides consolidated client account information from hundreds of data sources including mutual funds, managed accounts banking, brokerage, insurance and retirement. It works with 150 financial institutions and more than 100,000 financial advisers whose assets under management exceed $1trillion. PNC (NYSE:PNC) of Pittsburgh is one of the nation's largest diversified financial services organizations, providing retail and business banking, real estate finance and asset-based lending, wealth management, asset management and global fund services.
AT&T launches mobile banking with SunTrust, Wachovia
AT&T Inc. on Tuesday launched a mobile banking platform that will serve the customers of SunTrust Banks Inc. and Wachovia Corp. The program will enable customers to view account balances, transfer funds and pay bills from their AT&T (NYSE: T) mobile phones. Wachovia Corp. (NYSE: WB) and SunTrust Banks Inc. (NYSE: STI) have partnered with mobile banking providers Firethorn Holdings LLC and CheckFree Corp. (NASDAQ: CKFR) in order to provide a mobile banking solution for the millions of customers who bank with them. "The ability to perform banking functions using a wireless handset is attractive for people who need to make financial decisions on the go -- business travelers, college students and anyone who desires the flexibility that wireless delivers," said Mark Collins, vice president of consumer data for AT&T's wireless unit.
Wachovia boosts online offerings for small biz
Wachovia Corp. is expanding its online product offerings to include electronic deposits and bad-check recovery. The Charlotte, N.C.-based bank -- Central Florida's third-largest financial institution -- says the service will provide small businesses with cash-management services comparable to those available to most large businesses. With online deposits, small business owners can scan paper checks from their desktops and electronically send the images to Wachovia for deposit. Wachovia says the Internet-based application eliminates the need for software installation. To qualify, customers must have been in business for at least one year and have a Wachovia deposit account. In addition, Wachovia (NYSE: WB) has hired Federal Automated Recovery Systems, a subsidiary of Infinity Business Group Inc., to manage the electronic re-presentment of checks that have been returned for insufficient funds.
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