Wells Fargo Introduces vSafe, a Virtual Safe-Deposit Box

May 21, 2008

Wells Fargo’s new vSafe service securely organizes and stores customers’ electronic documents and offers access to them via the Internet.

Security and convenience — that’s what San Francisco-based Wells Fargo is promising customers with its new vSafe service. The Web-based virtual safe-deposit box allows users to archive almost any file format, from Microsoft (Redmond, Wash.) Word documents and PDFs, to audio and video files, according to Stephanie Smith, senior vice president of the Wells Fargo Internet services group.

“You can import any electronic or digitized document,” Smith explains. Pre-established folders, such as “Medical” and “Family,” help users organize their documents, and users can create or delete folders to personalize the storage solution, she adds. “Customers can just drag and drop their documents into those folders,” Smith says, emphasizing the product’s ease of use.

According to Smith, the product was conceived in response to Wells Fargo’s ($575 billion in assets) research into how customers manage their financial lives, including document storage. A study of the bank’s customers revealed that …

Please click here to continue reading this article