at Financial Technnology Year
This content is provided by FinTechBenchmarker.com who are responsible for the content. Please contact them if you have any questions.
Wells Fargo Mobile from Wells Fargo
The Wells Fargo Mobile app allows users to manage their finances, pay bills, and transfer money, featuring advanced security protections like biometric access and real-time alerts.
Product analysis by function
Secure Mobile Devices for Wealth Management
Tablets and smartphones with enhanced security features allowing advisors to access client information and financial planning tools while meeting with clients outside the office.
More Secure Mobile Devices
More Wealth Management ...
Authentication & Access Control
(7 Yes /7 Known /13 Possible features)
|
Multi-Factor Authentication (MFA) Requires users to provide multiple forms of identification before granting access. |
Wells Fargo Mobile app supports multi-factor authentication through device, password, and biometric verification. | |
|
Biometric Authentication Supports authentication via fingerprint, facial recognition, or iris scanning. |
The app supports biometric authentication via fingerprint and facial recognition on compatible devices. | |
|
Single Sign-On (SSO) Allows users to use one set of login credentials across multiple related systems. |
Wells Fargo Mobile allows Single Sign-On for users with linked Wells Fargo online banking credentials. | |
|
Role-Based Access Control (RBAC) Grants access based on user roles, limiting exposure to sensitive features and data. |
Role-based access control is implemented, as permissions depend on account type (personal vs. business) and user level. | |
|
Time-based Access Restrictions Restricts platform access to set periods for added security and oversight. |
No information available | |
|
Geofencing Limits platform access to predefined geographic locations. |
No information available | |
|
Session Timeout Automatically logs out users after a period of inactivity. |
No information available | |
|
Device Registration Allows only registered and approved devices to access sensitive information. |
Allows device registration for quick access and supports 'Remember Device' for repeated logins; documented in support KB. | |
|
Jailbreak/Root Detection Detects devices with compromised operating systems and restricts access. |
No information available | |
|
Remote Lock/Wipe Ability to lock or erase device data remotely if lost or stolen. |
No information available | |
|
Customizable Password Policies Enforces complexity and frequency rules for password creation and updates. |
Password creation guidelines require complexity and regular updates, as noted in account setup and app FAQ. | |
|
User Activity Logging Tracks user actions on the platform for accountability and investigation. |
User activity (logins, transactions) is logged, viewable in transaction and security history in the app. | |
|
Access Approval Workflow Requires admin approval before granting user or device access. |
No information available |
Data Encryption & Privacy
(7 Yes /7 Known /11 Possible features)
|
End-to-End Encryption Encrypts data at rest and in transit between devices and servers. |
App uses industry-standard security, including end-to-end encryption (SSL/TLS) for app communication. | |
|
On-Device Data Encryption Secures stored data locally on the mobile device using encryption. |
On-device encryption is noted in Wells Fargo's mobile security disclosures. | |
|
Secure Backup Backs up data securely in compliance with privacy standards. |
Data backup complies with banking privacy standards, as outlined in Wells Fargo privacy policy. | |
|
Encrypted Communications Ensures all messaging, calls, and file transfers are encrypted. |
All communication and interactions are encrypted, as led by HTTPS/TLS and app security page statements. | |
|
Secure Key Management Safeguards encryption keys with restricted access and best practices. |
No information available | |
|
Data Masking Masks sensitive financial data displayed on screens to prevent exposure. |
No information available | |
|
Granular Encryption Levels Allows different levels of encryption for different data types. |
No information available | |
|
Privacy Policy Transparency Displays clear information about data collection, use, and sharing. |
Privacy policies are prominent, with full information on data usage, visible during onboarding and settings. | |
|
Compliance with GDPR/CCPA Adheres to data privacy regulations such as GDPR or CCPA. |
Wells Fargo Mobile app complies with GDPR and CCPA, disclosed in privacy and regulatory compliance documentation. | |
|
Audit Logging Maintains logs of all access and changes to client data for auditing. |
Audit logs of access and security activity are kept for regulatory and customer support purposes. | |
|
Secure Cache Management Automatically clears or encrypts application cache to prevent data leaks. |
No information available |
Mobile Device Management (MDM) & Security Monitoring
(1 Yes /1 Known /11 Possible features)
|
MDM Integration Offers compatibility with leading MDM solutions for device oversight. |
No information available | |
|
Device Inventory Tracking Tracks all approved devices accessing financial systems. |
No information available | |
|
App Whitelisting/Blacklisting Prevents installation or use of non-approved applications. |
No information available | |
|
Mobile Threat Detection Continuously monitors for malware, phishing, or other threats. |
No information available | |
|
Patch & Update Management Ensures devices and apps are running the latest secure versions. |
No information available | |
|
VPN Enforcement Requires VPN connections for external or remote access. |
No information available | |
|
Compliance Reporting Generates reports on device compliance with security policies. |
No information available | |
|
Remote Configuration Centrally manages security settings and configurations across devices. |
No information available | |
|
Lost Device Tracking Allows real-time location and status tracking of lost devices. |
No information available | |
|
Security Incident Alerts Automatically notifies administrators of security breaches or risks. |
Security breaches, login attempts, and large transaction alerts are sent in real-time via notifications or SMS/email. | |
|
Usage Analytics Provides analytics on device engagement and usage by advisors. |
No information available |
User Experience & Interface
(8 Yes /8 Known /11 Possible features)
|
Intuitive Navigation Easy-to-use interface for advisors and clients. |
App is designed to be intuitive for personal and business clients; widely recognized in user reviews and app store ratings. | |
|
Customizable Dashboard Allows users to personalize information and shortcuts. |
No information available | |
|
Multi-Language Support Available in a variety of languages to serve diverse client bases. |
Available in English and Spanish, per app documentation and downloads. | |
|
Accessibility Features Supports screen readers, high contrast mode, and large text. |
Accessibility is supported; app advertises compatibility with screen readers and provides high-contrast mode. | |
|
Offline Mode Limited functionality without network connection for emergencies. |
No information available | |
|
In-App Notifications Provides timely alerts and updates to users inside the app. |
In-app notifications keep users updated of transactions, logins, and messages within the app. | |
|
Seamless Document Upload/Download Secure and easy handling of financial documents. |
Secure document upload/download is available for statement retrieval, check deposit, and document submission. | |
|
Dedicated Client/Advisor Portal Separate portal areas for advisors and clients with tailored functions. |
Wells Fargo Mobile has dedicated portals and sections for personal and business clients, with different capability sets. | |
|
Voice Assistant Integration Integrates with voice assistants for hands-free operation. |
No information available | |
|
Search Functionality Advanced search tools for transactions, documents, and contacts. |
Supports full account, transaction, and contact search through the app interface. | |
|
Responsive Design Adapts interface for phones, tablets, and different screen sizes. |
Adaptive design confirmed for iOS and Android devices, visible in app store screenshots and official support resources. |
Transaction Security & Control
(9 Yes /9 Known /10 Possible features)
|
Transaction Approvals Requires one or more approvals before large or sensitive transactions proceed. |
Transactions that exceed standard limits or involve new recipients may require explicit approval or additional verification. | |
|
Real-Time Transaction Monitoring Monitors and flags potentially suspicious activity as it happens. |
Fraud monitoring tools provide real-time tracking; suspicious activity will alert the user and support intervention. | |
|
Limits on Transaction Amounts Configurable maximums for transactions approved via mobile. |
No information available | |
|
Automated Fraud Detection AI-based detection and prevention of fraudulent transactions. |
Automated fraud detection based on transaction analysis is present, as indicated by the security features page. | |
|
Transaction Notifications Instant alerts for every transaction initiated or completed. |
Transaction notifications (push/SMS/email) are set up for every major activity in-app. | |
|
Dual Authorization Two users must independently authorize critical transactions. |
Certain high-value or sensitive transactions require dual authentication/authorization for completion. | |
|
Audit Trail of Transactions Comprehensive log of all transaction details and authorizations. |
Detailed transaction audit trails are available through transaction histories and downloadable statements. | |
|
Regulatory Compliance Checks Automated screening of transactions for regulatory compliance. |
App monitors and validates transactions for AML and regulatory compliance, according to privacy/SOX documentation. | |
|
Transaction Reversal Tools Ability to reverse incorrect or fraudulent transactions swiftly. |
Transactions can be cancelled, reversed or disputed swiftly from within the app or via customer support. | |
|
User Permissions for Transaction Types Administrator control to restrict types of transactions by user. |
Admins can limit transaction types for authorized users, per business and personal online banking administrative controls. |
Integration & Interoperability
(5 Yes /5 Known /10 Possible features)
|
API Access Robust, secure API for integrating with other platforms and services. |
APIs are available for integration with finance tools (see developer and partner documentation). | |
|
Data Import/Export Allows seamless transfer of financial information to and from other systems. |
Users can import/export statements and connect external accounts through Plaid and similar integrations. | |
|
CRM Integration Integrates with Client Relationship Management software. |
Integration with select CRM platforms through third-party infrastructure. | |
|
Portfolio Management Integration Works with third-party portfolio management and analytics tools. |
No information available | |
|
Bank Connection Aggregation Aggregates holdings and balances from multiple banks and custodians. |
App aggregates and shows balances from multiple Wells Fargo and linked external accounts. | |
|
Document Management Integration Connects with document storage and e-signature platforms. |
Integrates with e-signature platforms for document signing and supports access to document management resources. | |
|
Secure Open Banking Support Supports open banking APIs with OAuth2 and PSD2 compliance. |
No information available | |
|
Alerting System Integrations Can send alerts to external monitoring and support systems. |
No information available | |
|
App Marketplace Compatibility Supports plug-ins and third-party apps from curated marketplaces. |
No information available | |
|
Single Data Format Standardization Uses open standards for financial data for easier interoperability. |
No information available |
Audit, Reporting & Compliance
(5 Yes /5 Known /10 Possible features)
|
Regulatory Audit Trail Captures full audit logs for all data and actions, meeting compliance obligations. |
Regulatory audit trails are maintained for banking and investment activities, per compliance documentation. | |
|
Real-Time Compliance Alerts Instantly flags actions or transactions that may breach compliance rules. |
Real-time compliance alerts are generated for potential compliance-breaking activities or flagged transactions. | |
|
Scheduled Compliance Reporting Automatically generates and distributes compliance reports. |
Periodic and scheduled compliance reports are available to account admins and regulatory staff. | |
|
Role-Based Compliance Controls Compliance checks vary based on user roles and access. |
No information available | |
|
e-Discovery Support Facilitates discovery of electronic records for legal/audit review. |
No information available | |
|
Customizable Policy Engine Policy rules can be tailored to organizational and regulatory needs. |
No information available | |
|
Conflict of Interest Monitoring Detects and reports potential advisor conflicts. |
No information available | |
|
Transaction Reporting Standards Supports formats (e.g., SWIFT, FIX) required for external reporting. |
No information available | |
|
Automated Record Retention Automatically applies record retention/destruction based on policy. |
App adheres to bank's automated data retention schedules to conform with financial regulations. | |
|
Data Residency Awareness Ensures data is stored in approved jurisdictions. |
Data centers are located within the United States, in accordance with regulatory requirements for US clients. |
Collaboration & Communication
(6 Yes /6 Known /10 Possible features)
|
Secure In-App Messaging Enables end-to-end encrypted communication between users. |
App supports secure in-app messaging with customer support, using end-to-end encryption. | |
|
Document Sharing and Signatures Securely share, collaborate and sign important documents. |
Statement/document sharing and electronic signatures are available for consumers and small business clients. | |
|
Client Scheduling Tools Integrates calendars and scheduling for advisor-client meetings. |
Appointment scheduling is integrated within the mobile app for advisory meetings. | |
|
Group Chat Capability Supports group discussions among teams or family members. |
No information available | |
|
Push Notification Channel Provides immediate client/advisor updates and reminders. |
Push notifications keep clients and advisors up-to-date about activity and appointments. | |
|
Voice and Video Communication Enables secure audio and video calls through the app. |
No information available | |
|
Audit Logging of Communications Maintains logs for all advisor-client communications for compliance. |
All client-advisor communication through the app is logged for compliance inquiry, per privacy statement. | |
|
Conversation Archival and Search Archives all chat and call transcripts and allows keyword searching. |
No information available | |
|
Automated Meeting Summaries Records and summarizes client meetings for audit and convenience. |
No information available | |
|
Integration with Email/Other Channels Can synchronize communications with email, SMS, or third-party chat. |
External communications to email and SMS channels are supported, as well as account notification integrations. |
Platform Reliability & Performance
(7 Yes /7 Known /10 Possible features)
|
99.99% Uptime SLA Guaranteed uptime or availability level for the application. |
No information available | |
|
Real-Time Performance Monitoring Tracks system performance metrics for rapid issue detection. |
App and supporting infrastructure include real-time monitoring tools, as indicated by support materials and reliability SLAs. | |
|
Scalability Supports growing users or device numbers without service degradation. |
Platform supports millions of users; scalability proven through app rankings and service statistics. | |
|
Load Balancing Balances traffic across servers for optimal responsiveness. |
Traffic load is balanced across redundant infrastructure, supporting high availability and scalability. | |
|
Disaster Recovery Plan Comprehensive plan and backup for service continuity after outage. |
Wells Fargo maintains disaster recovery and business continuity plans, required by financial regulations. | |
|
Auto Failover Seamlessly switches users to backup systems in case of primary failure. |
Auto-failover between cloud instances and data centers is standard for major banking infrastructure. | |
|
Response Time Average time for screen or transaction to load/process. |
No information available | |
|
Regular Maintenance Scheduling Planned maintenance that does not interrupt critical user activity. |
Regular scheduled downtime notifications indicate well-managed maintenance windows. | |
|
Bug Reporting & Resolution SLA Defined timelines for responding to and fixing reported bugs. |
No information available | |
|
User Feedback Loop Allows real users to report issues and suggest improvements. |
Customer feedback and feature request links are available within the app and website. |
Deployment, Support, and Training
(8 Yes /8 Known /10 Possible features)
|
Guided Onboarding Step-by-step instructions for initial setup for users and administrators. |
Onboarding is guided with tutorial overlays and step-by-step instructions in the app. | |
|
In-App Tutorials & Help Embedded resources to assist new or returning users. |
App includes in-app tutorials and contextual help popups for navigation and security. | |
|
24/7 Help Desk Support Continuous support by phone, chat, or web. |
24/7 support via in-app chat, phone, and web help desk as stated in Wells Fargo support coverage. | |
|
Knowledge Base Online repository of FAQs, guides and troubleshooting tips. |
Extensive online knowledge base for the mobile app is hosted on wellsfargo.com. | |
|
Dedicated Account Manager Assigned specialist for organizational needs and issue escalation. |
Dedicated business account managers are available for wealth management and business clients. | |
|
Flexible Deployment Options Supports cloud, on-premises, or hybrid deployment models. |
No information available | |
|
User Role Training Programs Custom training by user function (advisor, admin, client). |
Training support is available for end users and administrators on request, documented in large-client service descriptions. | |
|
API Documentation Complete documentation for developers integrating the platform. |
API documentation is available for external integration partners and fintech developers. | |
|
Test/Sandbox Environment Safe environment for testing new features/configurations. |
No information available | |
|
Feedback & Feature Request System Enables users to submit suggestions and requests for enhancements. |
Users can submit feedback and feature requests through the in-app feedback system and website support forms. |
This data was generated by an AI system. Please check
with the supplier. While you are talking to them, remind them that they need
to update their entry.