Wells Fargo is a finance company that offers insurance and financial services in three countries – USA, Canada and Puerto Rico. Wells Fargo Bank is one of the leading banks in the United States by size and occupies the first place in the world by market capitalization. Moreover, Wells Fargo is seventh expensive financial institution in the United States.
The company’s original symbol is a coach.
Wells Fargo Dealer Services, which is division of Wells Fargo Bank N.A., is one of the nation’s leading auto finance lenders.
Company’s bank divisions are located in Sioux Falls – the largest city in South Dakota, although its major headquarters are based in San Francisco, California. Norwest, the largest company in Minneapolis has decided to merge with Wells Fargo & Co. into the single company in 1998. Managers from two financial institutions have entered the Board of the newly created company. Since well-known brand Wells Fargo & Co. has already had a successful 150-year history, the management agreed to save the company’s name Wells Fargo and the coach as the corporate symbol.
The end of 2008 has fatal consequences for the company’s independence as it was purchased by Wachovia. With the company‘s value of 12.7 billon dollars and after that successful deal Wells Fargo became the largest credit card company on mortgage market in the United States. With 6062 branches on the globe, it serves more than 23 million customers around the world
The biggest company’s shareholder is Warren Buffet, which is one of the world’s richest people. He has almost 6.5% of Wells Fargo in his possession. The company owns huge skyscrapers, large stadiums and other commercial buildings.
Wells Fargo Today
Diversified company Wells Fargo is focused on satisfying all customer’s lending needs. However, the company provides not only financial services, but also insurance. Thus, customer that originally comes for financial support can get various insurance services at a great price. Such business model gives Wells Fargo more than 80% of its revenue. Whereas customer needs is the main company’s priority, since 1995 (before the mentioned merger with Norwest) it offers an innovative online banking system. It provides full information about cards, accounts, bills, allows playing on the stock market and buying and/or selling securities via Internet. The Wells Fargo Bank not only offers credit and insurance services, but also attracts investors to deposit accounts.
Dealer Services Program Information
Relationships with dealers is very important for Wells Fargo. That’s why company is striving to develop and implement products and services that meet dealers’ expectations and needs. Wells Fargo is interested in growing dealers’ business and supply them with leading instruments to achieve success on the market.
Doing best for partners
With innovative process application system CreditRevue, dealers may effectively and in a timely manner apply for credit and manage their finances. By developing and integrating operational systems with Dealertrack and RouteOne tools, Wells Fargo provides great accuracy and speed in management and making decisions as well as professional financial expertise to guarantee getting the right solutions as soon as possible.
Dealertrack is a web-based financial electronic product for dealers. Using it, they can submit loan application online and improve efficiency and profitability by interacting with their financial providers online. Dealertrack is absolutely free and easy to use.
Another web-based credit application management system is RouteOne. This platform enables applying to the leading indirect lenders, requesting credit reports, receiving system’s free dealers operating records as well as fast and easy credit decisions through single web portal. Application’s open to integrate model allows connection to the broad range of providers. More than 21,500 automotive dealers in the North America use RouteOne as a one-stop shop for their credit application needs.
Wells Fargo is dedicated to exceptional customer service and support by delivering unique and dealer-focused local services:
- Fast and flexible credit decisions;
- Quick funding through national coverage (regional business centers);
- Wells Fargo is available for dealers 24 hours a day/7 days a week.
Outstanding Well Fargo product and service lineup helps increase dealer’s sales volumes and raise the bottom line. Company’s proposals include:
- Wide range of credit products for all categories of credit histories (from nonprime to superprime);
- Guaranteed Asset Protection (GAP) is a tool that is profitable both for dealership and consumer as it provides full property protection in case of total insurance loss due to accident or theft.
Contact Wells Fargo’s business development representative for further information about Dealer products and services.