Wells Fargo Commemorates 15 Years of Online Banking
Wells Fargo today commemorates the 15-year anniversary of online banking. On May 18, 1995, Wells Fargo became the first bank in the nation to give customers free Internet access to current balances in their checking, savings, line of credit and credit card accounts. The service showed customers’ transaction histories for checking and savings accounts. Today, Wells Fargo serves 17.2 million combined active online customers who visit more that 2 billion times per year.
Today, to address customers’ desires for more online service and help, the company announced:
- enhancements to the Wells Fargo’s Smarter Credit™ Center, an online resource at www.wellsfargo.com/smarter_credit that provides even more robust information and guidance to help customers be smarter about credit – whether it’s establishing credit for the first time, reducing debt, getting more credit, or managing and protecting credit for the long term.
- reduced time to complete a credit card application by 67 percent
Wells Fargo continues to use the latest technology to increase customer convenience and satisfaction, serving 17.2 million combined active online customers, 4.2 million combined active Bill Pay customers and 3 million active mobile banking customers; receiving more than 2 billion customer visits per year; and conducting more than 1.2 billion online money transfers annually.
“The online channel supports one of Wells Fargo’s core values of allowing customers to transact anytime, anywhere in order to meet their needs,” said Jim Smith, executive vice president of Wells Fargo’s Internet Services Group. “Wellsfargo.com is not a stand-alone channel but is integrated with Wells Fargo’s banking stores, phone bankers, the ATM network and mobile and text banking.”
In the early days of online banking, customers primarily used online account access to check balances and transfer money between accounts. Today, customers want the convenience of accessing accounts via a secure web browser to pay mortgage, credit card, and other bills, to apply for student loans, to manage their budgets, and to do many other activities. Online banking has become an essential tool for consumers and business owners for financial management. Wells Fargo gives customers choice, letting them decide how they want to bank, and how they want to integrate the Internet into their financial management.
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