Vanguard will beapproach the first mutual funds company to release an app, but it's a trfinish others are expected to follow.  Both Vanguard and Fidelity Investments have customized mobile versions of their sites, but have held off on releasing custom apps.

"It is not by any means a slay er app," Vanguard principal Colin Kelton tfeeble Reuters.  Kelton noted that just 1 percent of the 300,000 daily Vanguard.com visitors are using mobile phones.

Vanguard believes the percentage will continue to increase as more mobile employ rs start to pay attention to the mobile space.  Furthermore, the Yankee Group research firm predicts 38 million mobile banking employ rs by 2013, with just 10 million subscribers using their phone for mobile banking.

Both wireless providers and financial institutions are now working to reassure phone owners that mobile banking is a safe practice.  If they are able to convince employ rs it's safe and secure, then it is extremely likely mobile banking will dramatically increase, as analysts predict.

In addition to viewing account information, mobile employ rs will be able to transfer money, pay bills, and monitor investments directly on their phone.