Zumigo Corp., a provider of mobile device location and identity verification solutions, is an inaugural member of the Wells Fargo Startup Accelerator, launched today by Wells Fargo & Co., Zumigo announced today.

Wells Fargo is exploring Zumigo's mobile location intelligence technology that authenticates and secures mobile commerce. Zumigo's technologies could help protect Wells Fargo consumer and business transactions from fraud by identifying and authenticating owners of mobile devices, the company said. Zumigo's tech also enables location-based offers.

"Zumigo is honored to be accepted as one of the first members of the Wells Fargo Startup Accelerator," Zumigo founder and CEO Chirag Bakshi said in the announcement. "While current industry practice often waits for customers to report fraud that they notice on their accounts, Zumigo's innovative technology for financial services institutions such as Wells Fargo can detect fraudulent transactions before it impacts their customers."

The Startup Accelerator is a semiannual boot camp for innovators whose technology ideas could shape future customer experiences in financial services, according to the announcement. 

"The Startup Accelerator builds on Wells Fargo's history of innovation and increases our visibility into technologies and ideas that will stoke innovation across the enterprise," Wells Fargo Executive Vice President and Head of Wholesale Services Steve Ellis said in the announcement. "Zumigo's mobile technology looks promising, and we're excited to be working with them."