08 Oct 2008

October 07, 2008

SAN FRANCISCO — When you think of computing services, Wells Fargo probably isn’t the first name to come to mind. But with vSafe, an online document storage system for both its banking customers, the banking giant has joined a host of providers in the market.

The bank, the seventh-largest in the country and one of the few banks in the U.S. that appears solvent amid the credit crisis, used a monstrous safe in its main San Francisco bank, with a door that’s almost two feet thick, as the backdrop for what it believes is the safest online storage service available.

Wells Fargo’s CEO John Stumpf made the announcement, touting the fact that Wells was the first bank to launch online banking in the U.S. “As soon as Al Gore invented the Internet, we got on it,” he joked to a small gathering of reporters, then added “that joke works better in a red state, doesn’t it?”

He said Wells Fargo has four channels of distribution, online, in branches, at ATMs and on the phone. Online sees more than a billion transactions per year, more than the other three combined. So the company wanted to expand its online offerings.

Wells Fargo vSafe service lets customers …

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