Download - Case analysis ppp
04/13/2023
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Online Banking and the Risk of Identity Theft
Team 5:
Alina Rayas
Cesar E. Romero
Enrique A. Quintana
Manuel Rangel
Wells Fargo Bank
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History
Founded in 1852, San Francisco
Offered Gold Banking Services
Used the Railroad to deliver Gold
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Growth & Development
More then 70 Million Customers 75% use online banking
Wells
Fargo
Mortgage
Services
Banking Services
Investment
Services
Insurance
Services
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SWOT Analysis
StrengthsNo. customers
#1 Mortgage/Small Business lender
#1 Private student loans lender
WeaknessesNot a global companyRisk of identity theft
Opportunities Technology enabled services Become a global company
ThreatsOnline Scams
Wells Fargo
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NATURE OF COMMUNICATION
STRATEGY
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WF Communication Strategy
www.wellsfargo.com
WF Banking Apps
Customer Service
ATM’s
Bank Statements
Bank Branches
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WF Communication Strategy
1-800-TO-WELLS(New and existing customers) 24 hours a day, 7 days a week
To report identity theft, suspected fraud or lost/stolen debit cards or checks:1-800-869-3557
Lost/stolen credit card or suspicious credit card transactions:1-800-642-4720
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WELLS FARGO VISION AND GOALS
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Wells Fargo Vision
Their vision is based by believing that all
customers can be better served and they can
save time and money by giving all of them
financial services from one trusted provider
that know them well.
“We want to satisfy all our customers’
financial needs and help them succeed
financially.”
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VALUES
Values guide their decisions, interactions and conversation among their team members and customers.
People as a competitive advantage Ethics What’s right for customers Diversity and inclusion Leadership
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Goals
Revenue Goal Financial Goal Goal for every customer Goal for their stock Reputation Goal Goal for social responsibility
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Current Challenges of Mobile Banking
High risk of identity theft
Young customers post personal details on many
social media sties
Data from 2010 to 2011 shows a slight increase in
identity theft
False sense of protection on social media and
smartphones
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Solutions to Mobile Banking
What banks are doing: Banks are updating and monitoring
security measures on mobile apps 24/7 Banks are decreasing the time of
inactivity when logged on with a mobile app
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Solution to Mobile Banking
What Customers can do: Protecting your password by making it
unique Using the mobile devices built in lock
function Downloading banking apps from trusted
sources that include iTunes and Droid market