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5/31/2016 2:04 pm  #1


Wells Fargo -- We'll go far together

Well . . . Maybe - Maybe not. And the trip may be excruciatingly slow. I had one banking relationship with Wells Fargo after they acquired Wachovia. Initially I was pleased to get away from Wachovia and see Wells Fargo take over. After all, Wells Fargo was one of the companies touted in the book Good to Great which highlighted companies with inventive management and concentration on customer service. I quickly found out just how wrong that assessment of Wells Fargo was. Fortunately, I ended my relationship with Wells Fargo and felt good riddance to this tangle of inefficiencies totally lacking in any knowledge of what customer service actually is. When I read this article, I had to chuckle because it demonstrates, once again, what a screwed up financial institution Wells Fargo still is. An indication that bigger isn't necessarily better. Jeez, if they can't even control the flow of their e-mails, why would anyone ever trust them with their money.


Dreaded ‘reply-all’ triggers Wells Fargo email slowdown

The longtime bane of email users – the “reply-all” button – triggered serious email delays at Wells Fargo last week.

After an email went out with 90,000 recipients on Friday, some Wells Fargo employees began hitting “reply-all,” according to an internal report obtained by the Observer. “This has caused the email server queues to back up,” the report said.

The bank’s servers had a backlog of 4 million email messages to process at one point, according to another internal document.

The back-up caused delays in receiving internal and external emails, spurring problems for various lines of business at the San Francisco-based bank. For example in Wells Fargo Securities, one area experienced delays in clearing transactions that were supposed to be completed in one hour “before they have regulatory impact,” one of the reports said.

Wells Fargo spokesman Josh Dunn told the Observer the bank had some “minor technical difficulties” with emails on Friday “but those have been resolved with no compliance or security issues.”

Wells Fargo is the nation’s 3rd-largest U.S. bank by assets with about 270,000 employees. After the bank’s purchase of Wachovia in 2008, Charlotte became its biggest employee hub, with about 23,600 workers.

 

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