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Wells Fargo to reportedly sell asset management business, Reuters

News | E-invoicing, SCF & E-procurement | 15 Jan 2021

Wells Fargo has reportedly began talks to sell its asset management business, which manages more than USD 607 billion on behalf of customers, to a private equity consortium, Reuters reports.

Wells Fargo, Reuters, asset management, private equity, M&A, GTCR, Reverence

Federal agency ends anti-money laundering consent order for Wells Fargo

News | Digital Identity, Security & Online Fraud | 06 Jan 2021

The Comptroller of the Currency (OCC) had terminated a 2015 consent order related to an anti-money laundering compliance program after Wells Fargo took steps to remedy the problems.

customer due diligence, money laundering, CDD, banking, fraud prevention, OCC, US, Wells Fargo

Bill.com, Wells Fargo to launch Bill Manager

News | E-invoicing, SCF & E-procurement | 10 Dec 2020

US-based Bill.com, a provider of cloud-based software for back-office financial operations for SMBs, and Wells Fargo have partnered to launch Bill Manager.

bill.com, Wells Fargo, partnership, product launch, Bill Manager, SMBs, cloud-based, e-invoicing, SCF, accounting

As pandemic recession takes hold, large US banks to report profit plunge

News | Payments General | 05 Oct 2020

Financial analysts expect large US banks to report a 30% to 60% plunge in profits on the year-ago period due to the pandemic-induced recession and near record low interest rates.

Citigroup, Wells Fargo, JPMorgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, profit, recession, US

Wells Fargo Bank renews agreement with Global Payments

News | Payments General | 03 Sep 2020

Global Payments, a global provider of payment technology and software solutions, has announced that TSYS, its issuer solutions business, has renewed its agreement with Wells Fargo.

Global Payments, Wells Fargo, Issuer, cards, merchants, bank account, US, TSYS, payments

Wells Fargo, Versatile Credit to deploy contactless self-service

News | Online Payments | 18 Aug 2020

Wells Fargo and Versatile Credit have announced they will begin deploying Versatile’s Snap Sign contactless self-service tech to participating Wells Fargo retail partners. 

Wells Fargo, contactless, retailers, Versatile Credit, Snap Sign, kiosks, ecommerce, plugins, online payments

Thought Machine joins the Banking Industry Architecture Network

News | Online & Mobile Banking | 10 Aug 2020

Thought Machine, a cloud native core banking technology company, has joined the Banking Industry Architecture Network (BIAN), a non-profit organisation that provides a common framework for banking.

Thought Machine, Banking Industry Architecture Network, BIAN, banking, network, cloud, technology, Vault, banks, Coreless Banking Initiative, Strategic Advisory Group, Infosys, Wells Fargo, PNC, Deloitte

Wells Fargo pledges USD 400 mln for small business support following PPP payout

News | E-invoicing, SCF & E-procurement | 10 Jul 2020

Wells Fargo has announced donations over USD 400 million toward helping small businesses recover from the coronavirus pandemic.

Wells Fargo, US, United States, small business, PPP, payout, coronavirus, pandemic, Payroll Protection Program, community lenders, black entrepreneurs

Phishing emails that impersonate Wells Fargo target customers

News | Digital Identity, Security & Online Fraud | 24 Jun 2020

American Banker has reported that employees of large corporations are being targeted with phishing emails that impersonate the Wells Fargo security team.

Wells Fargo, phishing, attacks, calendar invites, fraud, fraudsters, security, personal accounts, cybersecurity, risks, cards, PIN

Wells Fargo to sell its GAI Feeder Fund Platform to iCapital

News | Payments General | 22 Jun 2020

Wells Fargo Investment Institute has announced selling its Global Alternative Investments (GAI) Feeder Fund Platform to iCapital Network. 

Wells Fargo, GAI, Feeder Fund, iCapital, Wells Fargo Investment Institute, Global Alternative Investments Feeder Fund Platform, GAI, transactions

USD 5 mln invested by Wells Fargo in Elliptic to connect crypto exchanges and banks

News | Cryptocurrencies | 27 Mar 2020

Banking company Wells Fargo has revealed it is backing blockchain forensics agency Elliptic.

Wells Fargo, investments, startup, cryptocurrency, exchanges, banks, digital assets, banking, KYC, blockchain

Wells Fargo, Santander take actions at branch operations, waive fees

News | Online Payments | 24 Mar 2020

US banks have started to adjust bank hours, waiving fees and offering payment extensions to help customers impacted by the coronavirus pandemic. 

Wells Fargo, Santander, branch operations, fees, mortgage, withdrawal, credit, banks

Wells Fargo to launch zero- and limited-overdraft fee accounts

News | Online & Mobile Banking | 06 Mar 2020

Wells Fargo has announced the launch of no-overdraft and limited-overdraft accounts for consumers who have trouble maintaining funds in a traditional checking accounts. 

Wells Fargo, US, bank, checking account, overdraft account, US, United States, banking, bank account

Wells Fargo agrees to pay USD 3 bln to solve fake-accounts investigation

News | Digital Identity, Security & Online Fraud | 24 Feb 2020

Wells Fargo has agreed to pay USD 3 billion to settle criminal and civil investigations into a long-running practice, BusinessInsider reports.

Wells Fargo, fake accounts, investigation, payments , criminal case, bank accounts, federal regulators, securities

Wells Fargo prepares for France expansion

News | Payments General | 17 Jan 2020

US-based bank Wells Fargo has announced efforts to make Paris subsidiary Wells Fargo Securities Europe (WFSE) operationally compliant ahead of its official launch.

Wells Fargo, bank, US Bank, expansion, France, banking, corporate banking, Wells Fargo Securities Europe, Commercial Capital

Monzo removes ATM fees and limits in the European Economic Area

News | Online & Mobile Banking | 23 Dec 2019

UK-based neobank Monzo has announced that it is removing ATM fees and limits for countries in the European Economic Area (EEA).

Monzo, challenger, European Economic Area, EEA, ATM withdrawal fee, Citi, Wells Fargo, EU regulation, financial technology, neobank, digital banking, online banking, mobile banking

The quest for the B2B cross-border payments Grail - Lessons from 2019

Voice of the Industry | Payments General | 20 Dec 2019

Just before 2019 draws to a close, here’s a brief overview of the relevant stories that marked this year in the B2B cross-border payments space, accompanied by some food for thought for 2020

B2B payments, B2B cross-border payments, blockchain, partnerships, Visa, Mesh Payments, Banking Circle, PPRO, TransferMate, InstaRem, Flutterware, Sabre, Tradeshift, Wells Fargo, JP Morgan, Dwolla, Accountsiq, Marco Vava, SIBOS, SWIFT, SEPA, PEPSI, 2019, retrospective

Wells Fargo follows HSBC, announcing real-time payments through The Clearing House

News | Online Payments | 20 Nov 2019

Wells Fargo has revealed that its corporate customers can now send real-time payments through The Clearing House's RTP network.

Wells Fargo, HSBC, payments , The Clearing House, real time payments, API, immediate payments

Wells Fargo to trial dollar-pegged stablecoin for internal settlement

News | Cryptocurrencies | 18 Sep 2019

Wells Fargo, US-based financial corporation, has been developing a US dollar-linked stablecoin that will run on the company’s first blockchain platform.

Wells Fargo, stablecoin, cryptocurrency, blockchain, settlement, R3, DTL, Corda

Irelands Central Bank hands down EUR 5.9 mln fine to Wells Fargo

News | Payments General | 08 Jul 2019

Wells Fargo’s Irish subsidiary was fined EUR 5.9 million for a prolonged series of regulatory reporting breaches.

regulatory reporting breaches, fine, banking, Ireland, Wells Fargo