Overview
This case study of Wells Fargo's Control Tower demonstrates an early attempt at empowering consumers to (1) know where and how their financial information is being used in and outside digital banking, and (2) manage access to that information, in the context of security and payments. Even with limited features, Control Tower shows that financial institutions can shift the tone of the conversation about security from “fear” to “control and confidence” by combining seemingly unrelated features into a centralized service. Using Control Tower as a model, Javelin describes three key principles that should guide digital bankers’ strategic and tactical quest for customer confidence, trust, and loyalty.