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WELLS FARGO & COMPANY

(WFC)
  Report
Delayed Nyse  -  04:03:09 2023-02-08 pm EST
48.25 USD   +0.25%
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Wells Fargo's Vantage℠ Platform Enhances Commercial and Corporate Clients' Digital Experience, Grows with Businesses at Scale

12/05/2022 | 07:02am EST

Persona-driven design and AI are at center of new banking platform

Wells Fargo & Company (NYSE: WFC) today unveiled Vantage℠, a new digital banking platform for Commercial Banking and Corporate & Investment Banking clients. Previously known as the Commercial Electronic Office® – or CEO® Portal – Vantage℠ offers enhanced features to drive a more personalized experience through artificial intelligence (AI) and machine learning (ML) that meet the financial needs of businesses in any stage of growth. Whether it’s a startup in its series A funding round or one of the world’s largest companies, Vantage℠ scales right along with a client, offering a one-stop-shop digital banking experience.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221205005088/en/

Sample screen of Credit function. (Photo: Wells Fargo)

Sample screen of Credit function. (Photo: Wells Fargo)

“Our Commercial and Corporate clients’ banking needs evolve over time, which is why we’re delighted to launch Vantage℠, a digital banking platform that simplifies and personalizes their experience so that they can stay focused on what’s most important – growing and improving their businesses,” said Reetika Grewal, head of Digital for Commercial Banking and Corporate & Investment Banking clients. “Vantage℠ uses cutting-edge AI and ML to offer a tailored and intuitive platform based on a client’s specific needs.”

The platform will use AI to provide recommendations and next steps based around each client’s specific needs and drive an increasingly insightful experience. Additionally, ML is leveraged to continually refine meaningful personalization and ensure scalability that grants businesses the capability to grow the platform right along with their business.

Today’s announcement marks a continuation of Wells Fargo’s holistic digital transformation, as signified by the rollout of a new consumer mobile app earlier this year, and the development of Fargo, its new virtual assistant. These enhanced digital capabilities are just the start of many initiatives in Wells Fargo’s multiyear plan to become digital-first and reinvent personal finance. Understanding client needs is a core part of how Wells Fargo fortifies its client relationships, and the business understands that its technology portfolio must meet these demands.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

Cautionary Statement about Forward-Looking Statements

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

News Release Category: WF-IT


ę Business Wire 2022
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Financials (USD)
Sales 2022 74 261 M - -
Net income 2022 11 770 M - -
Net Debt 2022 - - -
P/E ratio 2022 15,7x
Yield 2022 2,28%
Capitalization 185 B 185 B -
Capi. / Sales 2022 2,49x
Capi. / Sales 2023 2,32x
Nbr of Employees 238 698
Free-Float 68,4%
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Mean consensus BUY
Number of Analysts 26
Last Close Price 48,25 $
Average target price 53,05 $
Spread / Average Target 9,94%
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Managers and Directors
Charles William Scharf President, Chief Executive Officer & Director
Michael P. Santomassimo Chief Financial Officer & Senior Executive VP
Steven D. Black Chairman
Saul van Beurden Senior Executive VP & Head-Technology
Scott E. Powell Chief Operating Officer & Senior Executive VP