Wells Fargo Turns to Digital, AI as Inflation Batters Deposits

Banks today are caught between an ongoing digital shift and a challenging macro environment.With the release of Wells Fargo’s second quarter 2024 earnings on Friday (July 12), deftly navigating the two, as well as staying on top of compliance and risk management, was revealed to be top of mind for financial institutions and their leadership.“Our efforts to transform Wells Fargo were reflected in our second quarter financial performance,” said the banks’ Chief Executive Officer Charlie Scharf on Friday’s ear ...