Wells Fargo beats the competition for best Internet bank in the United States for its range of innovative online services.
For the second year in a row, Global Finance magazine has named Wells Fargo the best Internet bank in the U.S. in both the consumer and corporate categories.
Wells Fargo ranked highest among consumer Internet banks in numerous categories, including bill payment, social media, online deposit, security initiatives and investment product offerings.
In the corporate and institutional arena, Wells Fargo was considered the best internet bank for trade finance services and mobile banking.
“Since 1995 - when Wells Fargo became the first bank in the nation to offer customers Internet access to their account balances – we’ve been committed to increasing access and convenience, and helping our customers to succeed financially,” said Jim Smith, head of the Wells Fargo Internet Services Group, in a prepared statement.
Banks were judged on such criteria as strategies for attracting and servicing online customers, success in getting clients to use web offerings, the growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and the design and functionality of the web site, Global Finance said in a statement announcing the winners.
Wells Fargo boasts 19.3 million active online customers and 5.9 million active mobile customers. According to Steve Ellis, head of the bank’s Wholesale Services Group, “We focus on making banking easier for our customers. We spend a lot of time with customers listening for how we can help them work smarter and use that feedback to build better products and services.”
A new study by Millionaire Corner shows that demand for online banking services is firmly established and interest mobile banking apps is likely to grow. More than 90 of Millionaire investors surveyed in June go online via computer to check their accounts, and 88 percent pay bills online. More than half (56 percent) of tablet owners use the mobile device to pay bills and more than three-fourths use their tablets to check their accounts. The tablets are used by 42 percent of owners for trading, and by 69 percent for investment research.
Millionaires represent 8.4 million American household. Millionaire Corner defines Milllionaire investors as having a net worth of $1 million to $5 million not including primary residence.
More than 40 percent of Millionaire tablet users currently use the mobile technology to correspond with their advisors, and conduct financial planning. Forty percent evaluated financial service firms on their tablets.