Enhancements to launch starting in early 2022
Wells Fargo & Company announced a rebuilt mobile banking experience for consumer and small business customers, set to begin rolling out early next year, with an all-new virtual assistant — Fargo™ — to be added later in 2022. The enhanced digital capabilities are part of the company’s multiyear strategy to become digital-first and reinvent digital personal finance, supported by increased investments in next generation technology and strategic partnerships with leading tech companies.
“For many of our customers, Wells Fargo is the app,” said Ather Williams III, head of Strategy, Digital, and Innovation at Wells Fargo. “While face-to-face interactions make sense for more consultative financial moments in our customers’ lives, the majority of their day-to-day personal finance is done digitally. Our strategic investments — both in our own technology and via collaboration with digital leaders — reflect our deep commitment to providing our customers an experience that reflects their expectations for intuitive, seamless, and personalized digital experiences.”
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As the reimagined Wells Fargo Mobile app debuts next year, Wells Fargo’s 27 million mobile active customers will notice a new, modern look and feel and a simpler user experience that will help them more easily accomplish their banking needs — everything from the way they send and receive money via a one-stop-shop Pay & Transfer hub to how they explore products and more. The first phase of the transformed mobile app will begin rolling out in early Q1 2022 with a phased rollout to consumer, small business, and Wealth & Investment Management customers.
“Our customers live on their phones, accomplishing every task and planning their next important life moment all via digital. They expect their mobile banking app to mirror the same frictionless and time-saving experiences they get with other apps they use,” said Michelle Moore, Wells Fargo’s head of Consumer Digital. “The rebuilt mobile app will not only deliver a more seamless experience for customers, but it will lay the foundation for a digital personal finance experience that pushes the whole industry forward as new features such as Fargo and others are 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 everyday banking questions and, rather than self-serving to accomplish a task, customers will be able to ask Fargo to complete the task for them. As the artificial intelligence-powered virtual assistant evolves, it will also surface personalized insights and recommendations to help customers better manage their finances.
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Today’s mobile app news follows a recent announcement of a new digital infrastructure strategy inclusive of strategic partnerships with tech industry leaders as the bank plans to leverage third-party expertise and capabilities to execute a new digital infrastructure strategy. This strategy will help drive next generation, digital-first capabilities for customers that are fast and secure. Customers can expect to see some of the same innovative user experiences they’re accustomed to receiving from digital leaders become part of their Wells Fargo digital banking experience.
In addition to a reimagined 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’s history, and it’s where customers interact with the bank the most. In Q3 2021, customers logged in 1.6 billion times using mobile devices, up 14% year over year.
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