Wells Fargo to Pilot Digital “Control Tower” Experience to Help Simplify Customers’ Online Financial Lives

SAN FRANCISCO--()--Today Wells Fargo & Company (NYSE: WFC) announced a new digital banking experience to help solve customers’ fragmented financial lives. The new experience, “Control Tower,” will provide customers a single view of their ‘digital financial footprint’ — including places their Wells Fargo card or account information is connected (such as recurring payments, third parties, mobile wallets, devices, subscriptions, and so on) — and will enable customers to control when and where their Wells Fargo account is shared via an on/off function from one single, convenient, and secure place. “Control Tower” will go in pilot with Wells Fargo team members later this year and will launch for customers in 2018.

Wells Fargo President and Chief Executive Officer Tim Sloan made the announcement on stage at Fortune’s Brainstorm TECH conference in Aspen, Colorado.

Customers currently have their payment information stored in numerous places online,” said Sloan. “If you lose a card or want to update a billing address, you’re expected to go on a journey of self-discovery to remember all the different places your financial information is stored, which can be time consuming and complex. Wells Fargo is re-imagining the future of personal finance to deliver an experience that is secure and convenient and provides customers a central hub for better control, simplicity and transparency.”

In addition to “Control Tower,” Wells Fargo has been introducing other innovations to simplify and enhance the customer experience. These enhancements include the launch of Zelle person-to-person payments, data exchange agreements with several popular financial management tools, an artificial intelligence-driven chatbot experience pilot for Facebook messenger, digital wallets and more. At the end of the first quarter, Wells Fargo was the first large bank in the U.S. to offer card-free access at all Wells Fargo ATMs, and since then more than a million card-free access codes have been used for ATM transactions, including approximately $92 million of ATM cash withdrawals.

The “Control Tower” experience will provide the latest in digital simplicity. Some of this experience is already available to customers, including the ability to digitally turn on and off a debit card, and data-sharing capabilities for Xero-linked Wells Fargo accounts. Intuit- and Finicity-linked accounts will have this capability in the future.

Our customers’ digital lives have become increasingly fragmented and complex, and that complexity will only continue,” said Brett Pitts, head of Digital for Wells Fargo Virtual Channels. “By integrating a comprehensive view of customers’ Wells Fargo personal finance information and access points into one experience, this new experience streamlines customers’ digital footprint and enables them to manage their personal finances with ease from one single and secure place.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 271,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Contacts

Media Relations
Shelley Miller, 704-715-2471
shelley.miller@wellsfargo.com
or
Investor Relations
Jim Rowe, 415-396-8216
Jim.Rowe@wellsfargo.com

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Release Summary

Today Wells Fargo & Company (NYSE: WFC) announced a new digital banking experience to help solve customers’ fragmented financial lives.

Wells Fargo & Company