Wells Fargo Launches New APIs To Boost Efficiency And Productivity: Details

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Wells Fargo Launches New APIs To Boost Efficiency And Productivity: Details

Benzinga09-17 23:54

Wells Fargo & Company (NYSE:WFC) shares are trading higher on Tuesday. The company launched specialized Application Programming Interfaces (APIs) for its Commercial Banking clients, expanding its API ...

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The company launched specialized Application Programming Interfaces (APIs) for its Commercial Banking clients, expanding its API portfolio.\nThese APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients across several industries.\nWells Fargo’s API platform allows manufacturers, distributors, and dealers to seamlessly connect through their preferred systems. Automatic updates flow between trading partners, eliminating the need for manual data entry or file transfers, providing clients with instant access to crucial business insights.\nDaniel Pfeiffer, head of Wells Fargo Global Receivables, Trade, and Inventory Finance, said, “By expanding our API technology, we took a step forward in taking out the complexity of navigating various systems allowing clients to embed the functionality they need to manage their inventory and processes in their system of choice.”\nReetika Grewal, Wells Fargo’s head of Digital for Commercial Banking and Corporate & Investment Banking stated, “This expansion of our portfolio will allow our clients to be even more connected to the platforms they are using and ensure they have an end-to-end view that can streamline their business operations and provide information at a faster speed.”\nThis month, the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) and sanctions risk management practices. \nInvestors can gain access to the stock via First Trust Nasdaq Bank ETF (NASDAQ:FTXO) and Invesco KBW Bank ETF (NASDAQ:KBWB).\nPrice Action: WFC shares are up 2.26% at $55.01 at the last check Tuesday.\nImage via Shutterstock\nRead Next:\n\nWells Fargo’s Anti-Money Laundering Compliance: Analysts See Minimal Impact on Growth Despite Regulatory Hurdles\n\nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nThis article Wells Fargo Launches New APIs To Boost Efficiency And Productivity: Details originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Product Release","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}