Designed to provide a digital footprint of consumer's financial lives, the Control Tower app enables users to view a list of their recurring payments and track where their debit or credit card or account information is shared with certain third-party financial companies in a single, centralised location.

“As consumers’ lives have become increasingly digital, managing finances has only become more complex and cluttered,” says Jim Smith, head of Wells Fargo Virtual Channels. “If you lose a card or want to update a billing address, you’re expected to go on a journey of self-discovery to remember all the different places your financial information is stored, which can be time consuming and cumbersome. With Control Tower, Wells Fargo is simplifying the process by providing customers a more comprehensive view of their digital footprint and the ability to turn access to their Wells Fargo Debit or Credit Card on and off with the swipe of a button.”

Ben Soccorsy, head of Wells Fargo’s digital payments team, is expecting more than one million customers to sign up for Control Tower before the year is out, on the basis of usage rates racked up during the nine-state pilot for customers and company-wide team-testing.

“What the response says to us is our hypothesis from the beginning was right — that people really do want this capability to have more finer-grain control of things like their recurring payments and other aspects of their digital financial lives,” he says. “Customers are really getting value from using Control Tower. It gives transparency and visibility to their financial lives by bringing all these things together in one place.”