Wells Fargo just launched a digital-only banking offering for new customers this week, an effort to “meet customers where they are” and build relationships with them.
Greenhouse will begin as a pilot program in early 2018, with the intent to make the app available for iPhone customers later that year. At launch, Greenhouse will be focused squarely on new customers, and the bank will have a dedicated service team to interface with them. It offers customers an account tied to a debit card and a second account within which discretionary spending “envelopes” identified by the customer can reside. For example, a customer can decide to create such categories, as rent, utilities and credit cards and other recurring commitments, and set rules of how much money gets contributed on a regular basis towards them.
“It’s not so much catching up with [new] customers — 80 percent of interactions with the customer are digital in nature today — people’s use of services evolves over time, and what we’re doing is connecting the dots here with the change in customer behavior,” said Steve Ellis, Wells Fargo’s head of innovation.
Wells Fargo joins a growing group of banks and startups offering a mobile banking experiences with personal finance features folded in. It’s a sign that personal finance management is becoming part and parcel of mobile banking — a must-have in the battle to get new digital-first customers.
Digiday+ Research deep dive: Agency spending on TikTok plateaus as brands struggle with what to make of the app
Agency clients' spending on TikTok may have hit a plateau, while brand marketers are still searching for the right answer when it comes to how much confidence they should have in the platform.
Meta, Snapchat, Twitter layoffs spell trouble for agency relationships
The speed and scale of platform layoffs only compound the problem of marketers feeling neglected by the social media giants.
Lessons from marketers’ experience with generative AI
Enthralled as marketers clearly are with the possibilities of AI, they’re starting to think they might need a strategy for it.
SponsoredHow advertisers are unlocking the potential of kids-themed content on CTV
Jennifer D’Alessandro, head of ad sales and marketing, HappyKids There’s been a lot of talk in the digital industry about how the proliferation of ad-supported streaming services has unlocked a wide range of new inventory in high-quality, highly targetable environments. But it’s tricky to turn all of that talk into action when advertisers remain wary […]
WTF is a data clean room?
Platforms use data clean rooms in order to share aggregated audience data versus user-level data.
As TikTok becomes a search engine, big ticket retailers, including car dealerships, reap the benefits
Increasingly, local car dealerships and other brands selling big-ticket items say they’re finding success on TikTok given the app’s low barrier to entry, preference for authentic, organic content and new search functionality.