Wells Fargo Increases Branch Closures As Customers Use Digital More

Wells Fargo has seen customers become more adept at using digital and plans to accelerate their branch closure plans; the company is looking to close more than 800 branches by the end of 2020; “Our vision of satisfying our customers’ financial needs remains unchanged, but how we execute this vision has evolved; this evolution includes developing new ways to more efficiently serve our customers and create a better customer experience,” said CEO Tim Sloan on a conference call as reported by TearSheet; the closures are expected the save the bank about $4bn. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.