Wells Fargo has launched a CEO Mobile Deposit
service that is designed to enable executives to track corporate
payments via their smartphones.

The new service is an extension of the bank’s
Commercial Electronic Office portal (CEO). The app allows customers
to initiate and approve payments, receive alerts about critical
transactions, review account balances and transactions, manage
commercial card expense reporting and deposit cheques and money
orders, using an iPhone.

The app links to the Wells Fargo commercial
and corporate bank accounts and has the facility to process cheques
and money orders via image capture.

Once images have been captured, they are made
available immediately through the Commercial Electronic Office
portal. They can also take action on returned items faster as the
electronically deposited items clear faster than traditional
deposits.

The bank said that the service improves cash
flow by precipitating deposits while offering the same security and
quality customers experience from Wells Fargo and its CEO
portal.

“Back in 2007, we were the first bank to offer
mobile services for commercial and corporate customers,” said Steve
Ellis, executive vice president and head of Wholesale Services at
Wells Fargo.

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