A woman looks at her phone with Wells Fargo sign in background. Credit: Wells Fargo.

Wells Fargo & Company has announced plans that it will add a new virtual assistant to its revamped mobile app for consumer and small business customers.

The rebuilt app will debut early 2022. The virtual assistant called Fargo will be added to the app later in the year.

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The move is a part of the lender’s multiyear strategy that focuses on becoming digital-first amid increase in online banking.

Wells Fargo Strategy, Digital, and Innovation head Ather Williams III said: “For many of our customers, Wells Fargo is the app.

“While face-to-face interactions make sense for more consultative financial moments in our customers’ lives, the majority of their day-to-day personal finance is done digitally.

“Our strategic investments — both in our own technology and via collaboration with digital leaders — reflect our deep commitment to providing our customers an experience that reflects their expectations for intuitive, seamless, and personalised digital experiences.”

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The rebuilt app: Details

According to a company statement, the new app will carry a modern look. It will also simplify user experience for Wells Fargo’s 27 million mobile active customers.

The app will carry a simpler login process with consolidated payment options.

Wells Fargo will start rolling out the renewed app in phases starting in early first quarter of 2022.

Virtual assistant Fargo

The virtual assistant will answer customer queries as well as complete different tasks for them. AI-powered Fargo will also gradually evolve to offer personalised insights and recommendations to the users.

Wells Fargo is also slated to introduce the first phase of a redesigned public website in early 2022.