Wells Fargo Launches Control Tower SM, New Digital Experience for Customers Nationwide

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced that Control Tower, a new digital experience that simplifies customers’ online financial lives, is available for Wells Fargo consumer and small business customers nationwide through Wells Fargo Online ^® and Wells Fargo Mobile ^® Banking.

According to a recent online survey conducted by The Harris Poll on behalf of Wells Fargo¹, 79 percent of Americans use automatic recurring payments, yet they could potentially be paying for services they don’t need. In fact, 31 percent of Americans have memberships or subscriptions that they have paid for but not used over the past year, with this group having an average of three paid memberships or subscriptions that were unused or not needed.

Control Tower provides customers a single view of their digital financial footprint, including places their Wells Fargo Debit or Credit Card or account information is connected — such as recurring payments, certain third-party data aggregators, and mobile wallets. It also allows customers to quickly turn off (or on) their Wells Fargo cards from one central place.

“As consumers’ lives have become increasingly digital, managing finances has only become more complex and cluttered,” said Jim Smith, head of Wells Fargo Virtual Channels. “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 cumbersome. With Control Tower, Wells Fargo is simplifying the process by providing customers a more comprehensive view of their digital footprint and the ability to turn access to their Wells Fargo Debit or Credit Card on and off with the swipe of a button.”

Having multiple recurring payments and connection points online creates a greater need for consumers to have visibility into and control over where and what account information is shared. In addition, if consumers misplace a debit or credit card, it’s important to be able to turn the card off quickly and easily – and to turn it back on if they find it, eliminating the need to cancel their existing card and order a new one with new numbers. By bringing these capabilities into one place, Control Tower is helping to relieve this customer pain point. Among Americans who use a bank or financial institution, three quarters (76 percent) report that having a single view of their digital financial footprint – such as the Control Tower offering² – would be beneficial¹.

Control Tower represents the latest iteration of Wells Fargo’s continually evolving mobile experience. At launch, customers have the ability to view certain digital financial connection points, digitally turn on and off their Wells Fargo Debit or Credit Card (including mobile wallet access and debit card in-person international transactions), and control certain data-sharing capabilities for Wells Fargo accounts. In the future, customers also will be able to control which devices, apps, and companies have access to their account information.

In addition to Control Tower, Wells Fargo has been introducing other innovations to help simplify and enhance the customer experience and provide more convenience and control. These enhancements include Pay with Wells Fargo, a new interface for the Wells Fargo Mobile banking app rolling out later this year, the launch of Zelle ^® person-to-person payments, and more.

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, investment and mortgage products and services, as well as consumer and commercial finance, through 8,050 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 38 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

¹ This survey was conducted online within the United States by The Harris Poll on behalf of Wells Fargo from September 6-10, 2018 among 2,026 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Shelley Miller or Hilary O’Byrne.

² Description survey respondents were shown: “This offering provides customers with a single view of their digital financial footprint - including places their card or account information is connected (such as recurring payments, mobile wallets, subscriptions, and so on.) Available online, or in an app, the feature also enables customers to control when and where their account is shared via the ability to turn their card on or off from one single, convenient, and secure place.”