WELLS FARGO

“We want to satisfy all our customers’ financial

needs and help them succeed financially.”
About Well Fargo
• Wells Fargo is among the top five banks in the United States.
• Wells Fargo operates four segments including Consumer Banking and
Lending, Commercial Banking, Corporate and Investment Banking, and
Wealth and Investment Management.
• WFC is headquartered in San Francisco, California, the US.
• It operates through branches, ATMs, and mobile and internet
distribution channels globally.
 History Of Well Fargo
• William Fargo and Henry Wills started the company in 1852 with the
primary intention of providing express & freight services to miners in
the Californian region.
• The company also had a banking division, Wells, Fargo & Co Bank,
which facilitated the purchase, sale, and transport of gold dust from the
West to the East Coast via ship.
• Further they expanded banking division through mergers and
acquisitions with banks.
• Finally, Wells Fargo holding limited was established in 1969, and Wells
Fargo bank was its primary subsidiary.
Competitors of Wells Fargo
• JPMorgan Chase
• Bank of America
• Citigroup
Wells Fargo’s Digital Transformation
Strategy during 20th Century
• Wells Fargo, along with three other banks, introduced a Master Charge
Card, now prominently known as Mastercard, in 1967.
• Wells Fargo was the first to establish online banking in 1995, further
boosting the customer experience.
• The bank entered various financial services segments, including the
brokerage business
Wells Fargo’s Digital Transformation
Strategy during 21st Century
• Wells Fargo Launches its Retail Banking Application.
• Mobile-Based Contactless Transactions Are Here
• Wells Fargo Lab
• The Control Tower
• Wells Fargo Partners Up with Google and Microsoft Azure
Takeaways- Adopt new technologies to gain
an advantage
•Wells Fargo was among the first banks to initiate internet banking and
facilitate its customers. Today, the corporation is driven to reduce its
branch footprint through its mobile technologies.

•Thebank is moving to a cloud-based platform to understand its user

needs further and amplify user experiences.

•Theyhave launched a portal to listen to customer suggestions and

improve.

•Hence, it can be extracted from the Wells Fargo growth study that the key
to surviving for more than 160 years is to assess customer demands and
fulfil them to stay on top.
Relating it with Porters model