Wells Fargo

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Wells Fargo offers a wide range of financial services, claiming in its investor presentations to operate more than 80 divisions while still being able to stand for more then one thing. In addition, the company claims to be one of the most "integrated" of financial services companies. For example, instead of running a stock brokerage with separate branches and different customers, Wells Fargo stock brokers sit in retail branches, and generally only serve banking customers. (wellsfargo.com)

Despite this wide range of divisions, Wells Fargo only describes in detail three different business segments when reporting results, which are Retail Banking, which is typically your everyday banking where you have your savings, checking accounts, loan officers, mortgage lenders and credit card companies. Wholesales Banking, in which this segment contains products sold to large companies, as well as to consumers on a wholesale basis. This includes lending mutual funds, asset-based lending, and commercial real estate. Consumer Finance and which is a lending to consumers, as far as home loan, automobile loans and student loans. This is unlike many other financial services companies which provide more detail about particular businesses or product lines.

Wells Fargo dominating the financial services by being one of the largest in the world, they are not too concerned about competitions such as US Bancorp, Citi Financial, BB&T, PNC Financial, and Country Wide, simply because most of these companies are not touching every sections of the market like Wells Fargo. Most of the banking companies are consumer lending banks, or just retail banking, but is not giving out any mortgage or in the case with Country Wide...

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...it for you. This is an opportunity Wells Fargo always has, because they have the resources and capital to do that. Or think of another way of making banking for consumer and businesses easier as they did back in the 1980s with the internet banking. Such as Cross-selling, which Wells Fargo defines as "needs based" selling, is seen as its most important strategy. The firm sees this as an "increasing returns" business model. Wells Fargo states that the idea is like "networking effect" of e-commerce, where opportunities grow geometrically. The Overall idea with cross-selling is that it reinvents how financial services are aggregated and sold to customers. The firm feels that its customers see the concept of "one-stop shopping" for financial matters. For many consumers, this is a very appealing feature.

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