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Account Openings Without Going to a Bank Branch

November 8, 2017

Banking apps have made many people’s lives simpler.  Checking balances on the go and remote deposit capture have been a great time-saver, but when it comes to opening accounts consumers still generally have to visit a branch.

Wells Fargo recently announced a new standalone mobile-first app, called Greenhouse, that is designed to change this.

“Combining personal finance management tools with Wells Fargo banking, the Greenhouse experience will help consumers pay bills on time, spend confidently and start to build a savings cushion,” Wells Fargo said in a statement.

An ideal app for the under-banked and the younger generation, it’s an innovative step into the future and other bankers and fintechs should take note.

“Whether you are new to banking, don’t have regular paychecks, or typically manage money with cash, we believe the Greenhouse experience can help you manage day-to-day spending while planning for the future,” Wells Fargo added.

Time will tell how apps, like Greenhouse, will change the mainstream customer journey, but in the meantime the branch is still a major channel for most institutions.  Learn how banks are optimizing the branch in a digital world in our latest white paper—a free download here.

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