Boston, MA 08/28/2014 (wallstreetpr) – Wells Fargo & Co (NYSE:WFC) has decided to launch a FinTech Innovation Lab. It is a financial technology accelerator program that combines six months of coaching and collaboration with a cash investment for a minority stake. The WFC has shortlisted below stated three companies to pilot this startup financial technology accelerator program-
- EyeVerify: It is a Kansas based companies which is known for creating EyePrint ID. With the help of EyePrint ID, a picture of one’s eye is transformed into a key that protects the digital life of that person.
- Zumigo: It is a San Jose, California-based well-known technology company. It is better known for creating a mobile service with the help of mobile identity technologies and a unique combination of location. This service can be used to secure commerce and enable mobile banking.
- Kasisto: It is a New York based company. It is known for building state-of-the-art artificial intelligence technology. With the help of this, It helps to enhance the consumer experience on mobile device through intelligent conversation.
Wells Fargo & Co (NYSE:WFC) will make an initial investment of $50,000 to $500,000 in each of the above-stated start-up and then provide proper coaching and business planning for next six months. It will be done through WEC’s line leaders and professionals who have a decent bit of experience in this field. WFC has been a pioneer in the field of technology in US. It was the first bank that offered free internet service to all of its customers for checking account balance.
According to Steve Ellis, Head of wholesale services and Executive Vice President of Wells Fargo & Co (NYSE:WFC), “Technology has been an important driver to create a significant difference between us and our rivals over the past twenty years.” It is one such initiative that will enhance the value of Wells Fargo & Co (NYSE:WFC) and improve the customer experience in coming months.
