The FINANCIAL — SAN FRANCISCO — Wells Fargo & Company 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.
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.
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