Wesabe Launches Mobile Banking Platform

Wesabe gives members a better understanding of how they spend via a free, web-based financial management tool, and helps them get more value for their money by aggregating and analyzing financial transaction data from members' bank and credit card accounts. With Wesabe Mobile, members can take check their account balances and recent transactions anytime they want via their phone.

"Wesabe Mobile can give you a quick look at the state of your finances when you need it most. Having the information you need at the point of sale can really help you monitor your spending and make better-informed decisions," said Jason Knight, CEO of Wesabe.

"Small cash transactions tend to add up and make a big dent in your budget," said Wesabe Chief Product Officer Marc Hedlund. "Using Wesabe Mobile, our members can keep track of those expenses quickly and securely, using an iPhone, Blackberry, or any web-enabled mobile device, and then see the effect on their budget."

Wesabe Mobile works with all cell phone and PDA web browsers that support SSL, the standard for secure web browsing. Members' account balances and transactions are encrypted - a level of protection that SMS-based services do not offer. Members simply use the web browser on their cell or PDA to go to m.wesabe.com, where they can:

• View all of their bank and credit card account balances
• See the 10 most recent transactions that have posted to their accounts
• Enter cash purchases they've made while shopping

Wesabe users who tested the service have responded enthusiastically. "I specifically love being able to enter cash transactions on the fly," said Wesabe member Gary Portnoy. "I used to keep a note in Memo Pad dedicated to Wesabe where I'd temporarily enter cash transactions while on the go and then when I was in front of a computer I'd transfer them into the site. Now I don't have to do that."