FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Wells Fargo’s Mobile Growth Rate Eases to 27% YOY

Philip RyanbyPhilip Ryan
January 21, 2014
in All Posts
Reading Time: 2 mins read
0
Share on Facebook

galloping_horseWells Fargo‘s mobile user count has grown 27% since last year — giddyup!

The bank reported its 4Q 2013 earnings last week, but did not include information about online and mobile users in its earnings call or presentation. This may be because this quarter’s numbers, while stellar, do not match its growth numbers from earlier in the year.

Bank Innovation obtained the following 4Q numbers for Wells digital banking:

  • Active mobile users are at 11.9 million, up 27% from 8.7 million last year
  • Active online users number 22.9 million, up 7% from 21.3 million last year

Other big banks did nearly as well in mobile in 2013. Bank of America, with 14.4 million users, saw about 20% growth over last year. JPMorgan Chase, with about 15.6 million mobile users, saw growth numbers similar to Wells Fargo, increasing its user base 26% in 2013.

It’s worth noting that both Wells and Chase saw 32% YOY growth in 1Q2013, so growth in mobile users has actually slowed for both banks.

All this digital banking activity does not mean Wells Fargo is contracting its branch network. The bank wrote:

With regards to our branch network, our retail stores in 4Q13 numbered 6,175 with ATMs of 12,647. For 3Q13, it was 6,172 stores and ATMs of 12,452.

In other words, branches are flat and the number of ATMs is up 1.5% over last quarter. In March 2013, the bank reported “about 6,000” branches, or stores, as the bank refers to them. This is in contrast to Bank of America, which reported its branch network could contract from the current 5,151 to below 5,000 this year.

Wells Fargo is experimenting with microbranches, so square footage and costs in the brick and mortar channel should be expected to decrease over 2014.

Learn more about what’s next in banking at Bank Innovation 2014 on March 3-4 in Seattle. Request an invitation here.

Tags: Bank of Americabranch bankingCapital & FundingJPMorgan Chasemobile bankingWells Fargo
Previous Post

“Predictive Analytics”: Technologies That Read Your Mind

Next Post

Stripe Adding Functionality for ‘Any’ Currency

Related Posts

(AI-generated)
All Posts

AI-driven ‘SaaSpocalypse’ fears overblown, experts say

April 1, 2026
All Posts

Is Your Technology Supplier There for You?

April 1, 2026
(Courtesy/Bluevine)
All Posts

Bluevine’s AI chatbot resolves 80% of customer queries

January 7, 2026
Next Post

Stripe Adding Functionality for 'Any' Currency

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

FinAi Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

Connect

twitter linkedin podcast podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account