Wells Fargo shared that they set aside $4 billion in loan-loss provisions in Q1 2020, a number five times that...
On March 28, credit startup Bilt Rewards launched for the general public, bringing their "Earn points on Rent" solution to the mainstream.
Greenhouse, the new Wells Fargo banking app, will offer customers a new mobile banking experience to help manage finances; users will be able to manage their money and have the ability to send and receive payments; Crowdfund Insider reports Avid Modjtabai, Head of Payments, Virtual Solutions and Innovation at Wells Fargo said at an industry event, “We believe the Greenhouse experience will appeal to a broad base of consumers, many of whom have several income sources or are paid infrequently, which can make budgeting a challenge.” Source.
Wells Fargo, PayPal and Discover have joined together to help provide capital for fintech startups founded by women; in Q3...
There is a growing group of fintechs who have designed their products specifically for Gen Z, who are defined as...
Wells Fargo has been active in biometrics; in 2014 it launched a startup accelerator led by EyeVerify which it now uses for eyeprint verification with its commercial banking customers; it is also working with Kasisto in its startup accelerator and plans to launch some virtual assistant offerings for employees and customers; it has also now announced a refocused effort in its Innovation Group that will be dedicated to AI, payments and application platform interfaces; Wells Fargo's management is committed to biometrics and the firm wants to be a leader in the technology with a specific focus currently on voice recognition. Source
Wells Fargo is teaming up with Intuit which will allow customers to import account information via an API with Intuit products such as QuickBooks; we've recently seen banks opening up their data to empower customers to share their data with third parties; Brett Pitts, head of digital and virtual channels said in a prepared statement, "This agreement creates a much better experience for our shared customers, gives them greater control over their financial data, and enhances the efficiency of the data-sharing process." Source
Saul Van Beurden, Head of Technology at Wells Fargo, sat down with American Banker to talk about the bank’s response...
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