2013 Winner Profile

Wells Fargo

Project Description:
Wells Fargo launched a new product line, Wells Fargo SurePay, to compete with services such as PayPal. The program allows Wells Fargo customers to send and receive payments via an email address or mobile phone number. The fact that this contact info will already be programmed into the user's smartphone in many cases makes sending money especially easy. Cutting out third-party transaction vendors increases security and reduces the danger of identity theft. SurePay handles transactions using ClearXchange, a service jointly developed by Bank of America, JP Morgan Chase and Wells Fargo. Wells Fargo has 1.3 million customers who are active users of SurePay.
Project type:
Collaboration Tools, Mobile or Wireless, Security Technologies
Business Functions:
Product Development, New Product/Market, Customer Service or Support
Business Goal:
Customer Impact
Jim Smith, EVP & Head of Wells Fargo Digital Channels Group
John Stumpf, Chairman, President & CEO
San Francisco, Calif.
Financial Services (e.g. Banking, Broker or Dealers, Exchanges)
Revenue (2012):
$86.1 billion
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