schwab always stressed cutting edge technology, and pioneered computerization to replace paperwork. the emergence of the world wide web in the mid 1990s posed a new threat with new startups trying to exploit their software. schwab responded in 1996 by becoming the first major financial services firm to sell online listed and over-the-counter stocks, as well as mutual funds and bonds. the startups charged $36 a trade, and schwab charged $39 per internet trade, compared to $160 charged by traditional brokerages using the old technology. in 1984, the firm innovated with the mutual funds marketplace, which gave customers a choice of 140 no-load funds. it expanded to 500 no-load funds by 1992. in 2000 schwab introduced mobile/wireless trading with its pocketbroker mobile app that functioned on rim (blackberry), palm, windows ce, and wap-enabled phones, with deployments in the usa, uk, and hong kong. schwab also introduced schwab bank (charles schwab bank, national association), a federally chartered intrastate retail bank headquartered in reno, nevada. the application for the bank was approved on february 2003 by the office of the comptroller of the currency.