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Wells Fargo Celebrates 10 Years of Operation for Commercial Electronic Office Portal
[June 28, 2010]

Wells Fargo Celebrates 10 Years of Operation for Commercial Electronic Office Portal

Jun 28, 2010 (Close-Up Media via COMTEX) -- Wells Fargo & Company announced that its Commercial Electronic Office (CEO) portal, an internet portal for commercial banking customers, has become the first online channel of its kind to serve customers for a decade.

According to Wells Fargo, June 24 marks the 10th anniversary of the CEO portal, which provides instant online access for more than 330,000 users to dozens of financial services, including cash management, credit, foreign exchange, trade services, health benefit services, and trust and investment services. The portal's offerings and customer base will grow significantly in 2010 as thousands of new customers from the former Wachovia Corporation, which merged with Wells Fargo in 2008, join the online channel.

"Because we've focused on the customer experience for 10 years and not the product experience, we've designed and built and rebuilt a portal that delivers a premium customer experience," said Steve Ellis, the head of Wells Fargo Wholesale Services who started a group in 1999 to develop the CEO portal. "It delivers information that helps customers make smarter business decisions." Wells Fargo noted that during the CEO portal's first year, about 2,200 customers enrolled to use its initial three services: foreign exchange, credit management, and WellsNet (a suite of applications that included wires). 50,000 companies access the portal's 60-plus products and services, including applications such as commercial card expense reporting, treasury information reporting, and wires. More than 70 percent of Wells Fargo's commercial and corporate customers are enrolled in the portal, averaging two million logins per month.

To drive CEO portal innovation and enhancements, Wells Fargo casts a wide net for customer feedback, including research, forums, focus groups, online surveys, and blogs. For example, customers attended 100 advisory council sessions during 2009 in person and submitted 1,300 suggestions. Wells Fargo implemented more than one-third of their ideas. Each quarter since its launch, the CEO portal has released new products, features, and enhancements including Desktop Deposit service in March 2005, CEO Mobile service in March 2007, and CEO Workstation service in October 2007.

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet across North America and internationally.

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