1. Online Banking and the Risk of
Identity Theft
Team 5:
Alina Rayas
Cesar E. Romero
Enrique A. Quintana
Manuel Rangel
Wells Fargo Bank
7/5/2013
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2. History
 Founded in 1852, San Francisco
 Offered Gold Banking Services
 Used the Railroad to deliver Gold 7/5/2013
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3. Growth & Development
 More then 70 Million Customers
 75% use online banking
Wells
Fargo
Mortgage
Services
Banking
Services
Investment
Services
Insurance
Services
7/5/2013
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4. SWOT Analysis
7/5/2013
Strengths
No. customers
#1 Mortgage/Small Business lender
#1 Private student loans lender
Weaknesses
Not a global company
Risk of identity theft
Opportunities
Technology enabled services
Become a global company
Threats
Online Scams
Wells Fargo
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5. NATURE OF
COMMUNICATION
STRATEGY
7/5/2013
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6. WF Communication Strategy
7/5/2013
 www.wellsfargo.com
 WF Banking Apps
 Customer Service
 ATM’s
 Bank Statements
 Bank Branches
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7. WF Communication Strategy
7/5/2013
 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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8. WELLS FARGO VISION
AND GOALS
7/5/2013
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9. Wells Fargo Vision
7/5/2013
 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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10. VALUES
7/5/2013
 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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11. Goals
7/5/2013
 Revenue Goal
 Financial Goal
 Goal for every customer
 Goal for their stock
 Reputation Goal
 Goal for social responsibility
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12. Current Challenges of Mobile Banking
7/5/2013
 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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13. Solutions to Mobile Banking
7/5/2013
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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14. Solution to Mobile Banking
7/5/2013
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
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