Wells Fargo Named Best Consumer and Corporate/Institutional Internet Bank in North America by Global Finance Magazine

Wells Fargo & Company (NYSE:WFC) was named the Best Consumer and Corporate/Institutional Internet Bank in the North America by Global Finance magazine at the annual awards ceremony last night in New York. Wells Fargo also received awards for:

Best Consumer Internet Bank Best Online Deposits Acquisition Global

“The online channel supports one of Wells Fargo’s core values of allowing customers to transact anytime, anywhere in order to meet their financial needs,” said Jim Smith, executive vice president at Wells Fargo Internet Services Group. “We are proud to be honored for our accomplishments on the Internet.”

“Since we launched the CEO portal in 2000, our customers have helped to make it better,” said Debbie Ball, executive vice president and group head of Wholesale Internet & Treasury Services for Wells Fargo. “We listen to what they need and respond with innovative services and the best possible user experience. This award is a tribute to our customers’ insights and to our team members who build on their ideas.”

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. Today, Wells Fargo has more than 17.9 million active online customers and 4.1 million active mobile customers.

This is the 11th year Global Finance has named the World's Best Internet Banks. Winning banks were selected based on strength of strategy for attracting and servicing online customers, success in motivating clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and web site design and functionality.

Wells Fargo’s top ranking was based in part on the many tools and services it offers customers, including:

  • My Spending Report with Budget Watch: A patented, free online money management tool that categorizes transactions and enables customers to track their spending by category, so they can find ways to spend less. It helps customers create a budget and monitor their progress throughout the month – delivering the information customers need to stay on budget and gain more control of their finances.
  • My Savings Plan®: A free online tool that provides Wells Fargo savings account customers an easy way to save toward a goal and automatically monitor progress.
  • Smarter CreditTM center: An online resource that provides information and services 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. The newly launched educational video series feature Wells Fargo team members providing information ranging from how credits works to what lenders look for when reviewing credit applications.
  • Wells Fargo MobileSM: Secure mobile account access that enables consumer and small business customers to connect to their Wells Fargo accounts through three easy ways including text messaging (93557), mobile website (wf.com), and downloadable apps for four of today's most popular smartphones. Customers may access wf.comthrough our AndroidTM, BlackBerry®, iPhone™ and iPod Touch®, or Palm® mobile banking applications ("apps") to quickly log in to check their accounts, pay a bill, transfer funds between accounts or to another customer, or to find the nearest Wells Fargo ATMs.
  • CEO Mobile® service: Secure mobile account access that enables commercial, corporate, and institutional customers to connect to cash management functions from meetings, airports, across town, or around the globe. Wells Fargo introduced CEO Mobile service – a streamlined version of its Commercial Electronic Office® (CEO®) portal – in 2007, becoming the first major U.S. financial services company to offer mobile banking to commercial, corporate, and institutional customers. CEO Mobile service offers wire approval and initiation, image positive pay, intraday and previous day composite treasury reports, controlled disbursements summary, ACH fraud filter, and self-administration password reset. In late 2009, the company released its CEO Mobile iPhone™ App, a free time-saving tool that alerts customers to pending transactions and connects them to online commercial banking services.
  • Commercial Electronic Office (CEO): The CEO portal provides instant online access to dozens of financial services, including cash management, credit, foreign exchange, trade services, health benefit services, and trust and investment services. Today, 50,000 companies access the portal’s 60-plus products and services – including popular applications such as commercial card expense reporting, treasury information reporting, and wires.
  • Security/Fraud Prevention: Wells Fargo uses comprehensive controls and procedures to protect customers’ funds and information. In addition, Wells Fargo's Fraud Information Center, located on Wells Fargo’s public web site, provides fraud awareness, prevention tips, and resolution tools for all consumers to learn about fraud.

About Wells Fargo Online, Mobile & Text Banking

Wells Fargo is a leading provider of online and mobile financial services for individual consumers, small and middle market businesses, and large corporations with a full range of banking, money movement, investing, asset management, and other financial and risk management products. As of Q3 2010, Wells Fargo has 17.9 million active online customers and 4.1 million active mobile customers. Wells Fargo won the 2010 Future Mobile Award from Juniper Research (August 2010). Wells Fargo’s mobile banking services earned a Gold ranking in the Javelin Strategy & Research “2010 Mobile Banking Scorecard” (August 2010). Global Finance ranked Wells Fargo Best Consumer Internet Bank and Best Corporate/Institutional Internet Bank in the U.S. (August 2010). Wells Fargo’s Client Checking Account Application earned an “A” grade from Corporate Insights on its Bank Monitor Report (September 2010). In addition, Wells Fargo ranked #1 overall in the Keynote Second Quarter 2010 Small Business Scorecard. The Keynote Scorecard measures online functionality and customer experience for Small Business customers. (June 2010).

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.