Review on Wells Fargo by Hasan Abbas
Security issue may cause bank bankruptcy
Hello to everyone. I'm going to write to you today about the Wells Fargo bank.
Wells Fargo bank was created in 1929 in the American city of Minneapolis. It's a much newer bank than any other bank I've written about. But the fact that the bank is only 92 years old does not have a bad effect on the customer community. Because the bank has a large customer base of its own.
But unlike other banks, there is a big security problem. Let's look at the date of 2016. Research was initiated at Wells Fargo bank, and more than 2 million fake bank accounts were identified according to the study. Of course, such a major security issue hit the bank hard and the bank lost some of its customers. Although they say that the security problem has been overcome, I do not trust this bank very much. I hope such a security issue does not recur in the future. Because if this problem recurs again, the bank loses a large number of customers and could possibly go bankrupt. Therefore, I do not recommend anyone to cooperate with this bank. Hopefully in the future, Wells Fargo bank will make a big innovation and regain the trust of its customers.
Thanks for reading my review.
Pros
- Has a large customer base
- The bank's own mobile application positively affects customer satisfaction
Cons
- More than 2 million fake accounts have been identified due to security issue.
- Lack of a global bank impacts customer community bad
New products
Comments (1)
March 06, 2021
Wells Fargo & Company is the largest funded bank in the USA and the largest capital bank in the world. Market value is incredibly large. In fact, such companies are structured as holding companies rather than banks. Since they are in the form of a holding, the range of transactions is very wide.
