Online Banking and the Risk of
Identity Theft
Team 5:
Alina Rayas
Cesar E. Romero
Enrique A. Quintana
Manuel Rangel
Wells ...
History
 Founded in 1852, San Francisco
 Offered Gold Banking Services
 Used the Railroad to deliver Gold 7/5/2013
2
Growth & Development
 More then 70 Million Customers
 75% use online banking
Wells
Fargo
Mortgage
Services
Banking
Servi...
SWOT Analysis
7/5/2013
Strengths
No. customers
#1 Mortgage/Small Business lender
#1 Private student loans lender
Weaknesse...
NATURE OF
COMMUNICATION
STRATEGY
7/5/2013
5
WF Communication Strategy
7/5/2013
 www.wellsfargo.com
 WF Banking Apps
 Customer Service
 ATM’s
 Bank Statements
 B...
WF Communication Strategy
7/5/2013
 1-800-TO-WELLS
(New and existing customers)
24 hours a day, 7 days a week
 To report...
WELLS FARGO VISION
AND GOALS
7/5/2013
8
Wells Fargo Vision
7/5/2013
 Their vision is based by believing that all customers
can be better served and they can save...
VALUES
7/5/2013
 Values guide their decisions, interactions and
conversation among their team members and
customers.
 Pe...
Goals
7/5/2013
 Revenue Goal
 Financial Goal
 Goal for every customer
 Goal for their stock
 Reputation Goal
 Goal f...
Current Challenges of Mobile Banking
7/5/2013
 High risk of identity theft
 Young customers post personal details on man...
Solutions to Mobile Banking
7/5/2013
What banks are doing:
 Banks are updating and monitoring security
measures on mobile...
Solution to Mobile Banking
7/5/2013
What Customers can do:
 Protecting your password by making it unique
 Using the mobi...
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Case analysis ppp updated

  1. 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 1
  2. 2. History  Founded in 1852, San Francisco  Offered Gold Banking Services  Used the Railroad to deliver Gold 7/5/2013 2
  3. 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 3
  4. 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 4
  5. 5. NATURE OF COMMUNICATION STRATEGY 7/5/2013 5
  6. 6. WF Communication Strategy 7/5/2013  www.wellsfargo.com  WF Banking Apps  Customer Service  ATM’s  Bank Statements  Bank Branches 6
  7. 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 7
  8. 8. WELLS FARGO VISION AND GOALS 7/5/2013 8
  9. 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.” 9
  10. 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 10
  11. 11. Goals 7/5/2013  Revenue Goal  Financial Goal  Goal for every customer  Goal for their stock  Reputation Goal  Goal for social responsibility 11
  12. 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 12
  13. 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 13
  14. 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 14

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