Wells Fargo has added a new tool to their mobile app, Pay with Wells Fargo; the feature will be available...
Wells Fargo currently has capacity to lend $10 billion to small businesses under the $349 billion government program; not surprisingly,...
While most banks still do not offer a forecasting type feature Wells Fargo has added it to enhance their app experience; the bank says a customer can receive 50 different messages based on their account activity; “Having information in the palm of their hands can help lead customers to take action and make more informed financial choices,” Steve Ellis, who heads the bank’s innovation group, said in a press release reported by American Banker; the bank has had their share of issues recently but innovation has been one area where the company has excelled. Source.
[Update March 14, 2014: Wells Fargo decided to reverse this ban on employee involvement in p2p lending.] Really interesting news...
Wells Fargo has hired Peggy Mangot for a newly created position in its innovation group; Mangot will join the bank as senior vice president of the design and delivery leadership team; the innovation group at Wells Fargo was developed to focus on innovation in business models, processes and programs and user experience; Mangot previously worked as chief executive officer of a microinvesting startup platform and also brings experience from Visa and Google. Source
From the deal, Finicity will gain data sharing access to Wells Fargo's customer data for its clients which include personal financial management providers and online lenders; the deal is one of many currently underway for Wells Fargo and Finicity as well as numerous other market participants; overall, market consensus from American Banker shows less tension between banks and third party providers with companies such as Intuit reporting an increased interest from all parties involved in improving the experience for customers; American Banker also notes that as data sharing becomes more prevalent there's likely to be an evolution of technology that helps facilitate the connectivity. Source
In early May we learned from a press release that Wells Fargo, one of the largest banks in the United...
Wells Fargo was one of the first banks to use online banking back in the 1990s but now finds itself...
Wells Fargo customers are skeptical about the reason why they were unable to access accounts; the bank said there was...
Wells Fargo has seen customers become more adept at using digital and plans to accelerate their branch closure plans; the company is looking to close more than 800 branches by the end of 2020; “Our vision of satisfying our customers’ financial needs remains unchanged, but how we execute this vision has evolved; this evolution includes developing new ways to more efficiently serve our customers and create a better customer experience,” said CEO Tim Sloan on a conference call as reported by TearSheet; the closures are expected the save the bank about $4bn. Source.