• Thu. May 19th, 2022

Wells Fargo mpany Announces Rebuilt Mobile App and All-New Virtual Assistant, Fargo ™

Wells Fargo & Company (NYSE: WFC) today announced a new mobile banking experience for consumers and small businesses, which is expected to begin rolling out early next year, with a brand new virtual assistant – Fargoâ„¢ – to be added later in 2022. Enhanced digital capabilities are part of the company’s multi-year strategy to become the digital priority and reinvent digital personal finance, supported by increased investments in next-generation technology and strategic partnerships with leading technology companies.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005161/en/

A woman looks at her phone with the Wells Fargo sign in the background. (Photo: Wells Fargo)

“For many of our customers, Wells Fargo is the app,” said Ather Williams III, chief strategy officer, digital and innovation at Wells Fargo. “While face-to-face interactions make sense for more consultative financial moments in our clients’ lives, the majority of their day-to-day personal finances are done digitally. Our strategic investments, both in our own technology and through collaboration with digital leaders, reflect our deep commitment to providing our customers with an experience that reflects their expectations for intuitive, transparent and personalized digital experiences.

As the reinvented Wells Fargo Mobile® app debuts next year, Wells Fargo’s 27 million active mobile customers will notice a modern new look and simpler user experience that will help them more easily meet their banking needs. – everything from how they send and receive money through one-stop payments and transfers to find out how they explore products and more. The first phase of the transformed mobile app will begin rolling out in early Q1 2022 with gradual rollout to consumer, small business, and wealth and investment management customers.

“Our customers live on their phones, complete every task and plan for the next important moment in their lives, all digitally. They expect their mobile banking app to reflect the same smooth, fast experiences they get with other apps they use, ”said Michelle Moore, Consumer Digital Manager at Wells Fargo. “The rebuilt mobile app will not only provide a more seamless experience for customers, but it will lay the groundwork for a digital personal finance experience that will move the entire industry forward as new features like Fargo and others will be added in 2022 and beyond. ”

Once Fargo is added to the mobile app, it will bring a concierge-like experience to the app – customers will be able to get answers to their daily banking questions and, rather than being selfish to complete a task, customers will be able to ask Fargo to accomplish the task for them. As the artificial intelligence-based virtual assistant evolves, it will also display personalized information and recommendations to help customers better manage their finances.

Today’s mobile apps news follows the recent announcement of a new digital infrastructure strategy that includes strategic partnerships with technology industry leaders as the bank plans to leverage the third-party expertise and capabilities to execute a new digital infrastructure strategy. This strategy will help develop next-generation, digitally-driven capabilities for customers that are fast and secure. Customers can expect to see the same innovative user experiences that they are accustomed to receiving from digital leaders be a part of their Wells Fargo digital banking experience.

In addition to a redesigned mobile app, Wells Fargo will introduce the first phase of a redesigned public website in early 2022. Digital is the fastest growing channel in Wells Fargo history, and it is where customers interact the most with the bank. In the third quarter of 2021, customers connected 1.6 billion times using mobile devices, up 14% year-over-year.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company with approximately $ 1.9 trillion in assets, proudly serving one in three US households and over 10% of small businesses in the US , and is the leading mid-market banking provider. in the United States We offer a diverse suite of banking, investment and mortgage products and services, as well as consumer and commercial finance services, through our four featured operating segments: Banking and consumer loans, Commercial banking services, Business and investment banking services, Investment management. Wells Fargo is ranked 37th in the Fortune 2021 ranking of America’s largest companies. In the communities we serve, the business is focusing its social impact on building a sustainable and inclusive future for all by supporting housing affordability, small business growth, financial health and a low-emission economy. carbon. Wells Fargo news, ideas and insights are also available on Wells Fargo Stories.

Additional information is available at www.wellsfargo.com | Twitter: @Wells Fargo.

Caution regarding forward-looking statements

This press release contains forward-looking statements regarding our financial performance and future business. Because forward-looking statements are based on our current expectations and assumptions about the future, they are subject to inherent risks and uncertainties. Do not place undue reliance on forward-looking statements, as actual results could differ materially from expectations. Forward-looking statements speak only as of the date they are posted and we do not undertake to update them to reflect changes or events that occur after that date. For more information on factors that could cause actual results to differ materially from our expectations, see our reports filed with the Securities and Exchange Commission, including the discussion of “Forward-looking statements” in the Wells Fargo’s most recent quarterly report on Form 10-Q as well as other Wells Fargo reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10 -K for the fiscal year ended December 31, 2018, available on its website at www.sec. govt.

Press Release Category: WF-IT

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