Dive Brief:
- Wells Fargo is equipping its financial advisers, support teams and client associates with AI Teammate, an AI-powered chat capability that connects to the bank’s modernized central technology platform, according to a Wednesday announcement.
- AI Teammate allows users to query the bank’s Advisor Gateway platform in plain language and provides product, workflow and process summaries. The chat feature aims to reduce the amount of time employees spend searching for information and navigating resources, according to Evelyn Varner, chief product officer for wealth and investment management, at Wells Fargo.
- “In the short time that AI Teammate has been available, users have created thousands of prompts and hundreds of conversations — with the end goal of helping advisers be more connected, more useful, and ultimately more effective in delivering client advice,” Varner told CIO Dive in an email.
Dive Insight:
Wells Fargo’s launch of AI Teammate follows a trend of banks rolling out new AI tools and features this year for employees in a bid to improve productivity and efficiency.
In January, Citigroup began piloting Spaces, a collaboration tool for AI-assisted projects, within its proprietary generative AI platform. Bank of America in March launched its AI-Powered Meeting Journey, which connects to the firm’s Salesforce CRM to deliver information to advisers ahead of client meetings.
The development approach for Wells Fargo’s AI Teammate centered on collaboration between the wealth and investment management division’s product, enterprise technology and AI teams. The teams focused on solving everyday workflow challenges such as spending extra time searching for information, Varner said.
As AI becomes a core part of Wells Fargo’s business strategy, Varner said she’s committed to practical outcomes and to creating products collaboratively with advisers to reduce complexity and provide more intuitive experiences.
“Starting with those high-frequency activities allowed us to focus on delivering immediate value while building a foundation for future capabilities,” she said.
Banks are chasing greater efficiencies and turning to AI to deliver. Wells Fargo has invested more than $1 billion in modernizing its technology platform over the last several years, CEO Charlie Scharf told investors during the company’s Q2 2026 earnings call Tuesday, enabling the bank to launch the Advisor Gateway in May and AI Teammate.
“Investments like this are improving productivity, strengthening the client experience and driving improved adviser hiring and retention,” Scharf said during the call.
