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Wells Fargo launches new banking store concept

San Francisco-based Wells Fargo & Company has introduced a new banking store concept, the neighborhood bank format, to offer customers convenience, technology, on-site help in a third of the size of a typical Wells Fargo bank store format.

Contrary to big branch offices, which consume 3,000-4,000ft² space, the new 1,000ft² smaller format store provides the same kind of on-site banking experience, which the customers have been receiving and with similar service quality.

Equipped with new large-screen ATMs, the new store offers a paperless work environment and safe workflow as well as wireless technology that help the team to provide faster service.

Using the new design, the company will launch the new office in the NoMa neighborhood of Washington, DC on 15 April 2013.

Wells Fargo ATM banking and store strategy head Jonathan Velline said that with this new store concept, the bank can provide person to person sales and service along with new banking technology in settings that was previously not viable.

Apart from this, the new format stores will also have other facilities including image deposits, instant issue debit cards, and eReceipts, while a free wireless hotspot will also be provided for customers.

Established in 1852 and headquartered in San Francisco, Wells Fargo has $1.4 trillion in assets and offers banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs.