Wells Fargo Paper

David Perry

AITP Guest Speaker Event #4 (Wells Fargo)

SYSTEM ANALYSIS AND DESIGN

Professor Choi

October 29, 2017

Henry Wells and William Fargo founded Wells Fargo on March 18, 1852 (History). They originally opened to serve in the gold industry. They opened in San Francisco to start, then spanned over the west. Wells Fargo was known for delivering fast service by many means.  In 1858, they helped start the Overland Mail Company to meet demand for quick communication in the west. They are known for being a big player in the pony express (History).  In 1866, Wells Fargo was in many locations that covered the territory from California to Nebraska and in mining regions.  In 1888, they become the country’s first nationwide express company; they were located in 25 states.    

After the earthquake in 1906, Wells Fargo continued its service as a banking company due to the vault not being affected.  A few years after the earthquake Wells Fargo served as a big bank supporting people in the west. They worked with the growing businesses and agriculture, including fledgling auto, aerospace and film industries. The iconic stagecoach was used in marketing and also in films of the west. They continued to pioneer new solutions and services that enabled them to grow. Some of these ideas were drive-up tellers, banking on the phone, credit lines and ATMs just to name a few.  In the 1960’s they launched an online service and it still thrives today.

Wells Fargo states their mission, as “We want to satisfy our customers’ financial needs and help them succeed financially.” (The Vision).  They strive on being the best provider they can be by getting to know their customers. They believe that they can be better served and save time and money, if they bring their financial services to one trusted provider that knows them well.  They have five key values; People as a competitive advantage, Ethics, What is right for customers, Diversity, Inclusion and Leadership (Vision).  

 The culture at Wells Fargo is to focus on servicing the customer the best they can.  They promote working better together and a can-do-attitude. They treat every customer in the way that they would like to be treated if they were the customer.  They hold the idea that they is one Wells Fargo even with the different business units and locations around that United States.  Wells serves one in three households in America.  They are considered in the top 10 of all companies in the world and look to have a great future with the core values they have and their business strategy.