Summary1

Wells Fargo

Wells Fargo Bank is headquartered in California specifically, San Francisco. In 1997, it is

believed that Wells Fargo was the second largest bank in the United States with assets that were

worth close $100 billion. There was a very good task that was thought of by a team in the finance

department so as to best communicate the overall results of the scorecard. Quantitative measures

on the printed scorecard did not seem to be such a good idea so the team decided to visual icons

to show performance by each month which seemed to give fully detailed information on the

progress. Traditional accounting and financial measures were efficient but did not give detailed

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and precise information as compared to a balanced scorecard.

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It was packed with every machinery that was needed to operate it to it maximum potential,
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including ATM machines, staffed retail outlets, and also teller machines. It also introduced

Online Financial Services for its customers. This was in the late 1980s and the online service
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allowed its customers to access their respective accounts in the online service that it offered. The
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service proved to offer a much lower-cost service channel that was fair than the typical branch

banking. The online banking was much cheaper than the average ATM transaction, Telephone
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transaction, and branch transaction. However, the online bank needed mechanism that would

assist that their visions and mission was target and accomplished. They have to find new ways to
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make the online services keep up to date since the internet itself updated day and night.
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Customer priority is the most high and Well Fargo’s service had teams that ensured the cost per

customer was reduced, there was increase in revenue per customer, and they had to retain
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customers that are high value and also those were potentially valuable too. The team in Well

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 Summary2

Fargo had to make sure that it helped customers in the enrollment and make sure that when they

needed services, they could not get delayed trying to reach the customer care center

References.

Kaplan, R. (2001). Wells Fargo Online Services. Harvad Business School, 1-18.

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