Wells Fargo introduces newly rebuilt mobile app with an AI intelligent virtual assistant

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SAN FRANCISCO – APRIL 16: A sign is displayed outside of a Wells Fargo bank April 16, 2008 in San Francisco, California. San Francisco-based Wells Fargo and Company, the fifth largest bank in the U.S., reported an eleven percent drop in first quarter earnings as they continue to struggle with loan losses as the housing market slumps. The company reported earnings of $2 billion, or 60 cents per share, down from $2.24 billion, or 66 cents per share one year ago. (Photo by Justin Sullivan/Getty Images)

(ABC4) – Wells Fargo announced on Monday that they will be rolling out a newly designed mobile banking experience for their customers along with an all-new, artificially intelligent, virtual assistant named Fargo.

The newly designed app is scheduled to roll out next year as part of the company’s strategy to become digital-first by reinventing digital personal financing and encouraging partnerships with leading tech companies according to a press release.

Customers can expect a new, modern look and feel a simpler user experience by a new one-stop-shop pay and transfer hub that will make sending and receiving money more convenient.

“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.”

Virtual assistant Fargo is expected to bring customers a concierge-like experience. Customers will be able to get answers to their everyday banking questions and they’ll be able to ask Fargo to complete the task for them.

The company says once Fargo evolves, the artificially intelligent virtual assistant will surface personalized insights and recommendations to help customers better manage their finances.

Wells Fargo will also be introducing the first phase of their redesigned public website in early 2022 according to a press release.

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