Wells Fargo Google said on Thursday (March 26) that it is less than three years after launching its artificial intelligence-powered virtual assistant FargoThe assistant has helped customers make more than 1 billion transactions.
The bank also said on Thursday press release this Wells Fargo Mobile The app, which was launched in 2023, surpassed 33 million active users in February.
Wells Fargo attributed customers’ adoption of these digital tools to the ability to complete financial tasks quickly, safely, and with greater customization.
Fargo allows customers to accomplish more through natural conversational interactions, the bank said. The mobile app helps customers with tasks like sending money cellAdded bank, pay bills, set routing numbers, and get insights about spending and account balances.
We would love to be yours Favorite source of news.
Please add us to your favorite sources list so our news, statements and interviews appear in your feed. Thanks!
“Reaching 1 billion interactions with Fargo is a meaningful milestone because it represents how customers choose to interact with us every day.” Michelle MooreWells Fargo’s head of digital data and artificial intelligence said in the statement. “It reflects our disciplined approach to responsibly scaling AI and delivering experiences that make banking easier, smarter and more personal.”
PYMNTS Intelligence ReportWhy doesn’t digital-first banking mean digital-only? It is found that the convenience of online transactions has led to a rise in popularity Digital banking services.
Advertisement: Scroll to continue
The January 2024 report found that 81% of customers used mobile devices to manage their bank accounts at least once in the previous month. It also found that 60% of Millennials, 57% of Generation Z, and 52% of Generation X primarily use mobile banking apps.
Another intelligence report from PYMNTS,”Is artificial intelligence the key to the next era of banking?found that 72% of retail banking consumers prefer intelligent virtual assistants over traditional chatbots because of the personalized experiences those tools can provide.
During a January earnings call, Wells Fargo Chairman and CEO Charlie Sharp He said that the bank achieved stronger net current account growth in 2025 than in 2024 and attributed this growth in part to digital account openings facilitated by it. Mobile app.
“We continue to make improvements to our mobile app, including making account openings much easier, and in 2025, 50% of consumer checking accounts were opened digitally,” Scharf said. “We also increased the number of active mobile customers by 1.4 million in 2025, up 4% from last year.”
