SIBOS 2020: Wells Fargo unveils Payment Tracker for tracking global payments

By Pavithra R

Wells Fargo & Company has announced the launch of Payment Tracker, a new, single status, secure, web-based solution for tracking global payments during SIBOS 2020.

The new Payment Tracker is a free tool that leverages the company’s leading role and membership in the SWIFT gpi initiative. It allows customers to retrieve information on the status of certain payments.

“We are committed to digitally enabling and empowering our financial institution customers with transparent, cross-border payment services. We believe this capability will truly enhance customers’ end-to-end experience,” said George Doolittle, head of Global Payment Services at Wells Fargo. 

Payment Tracker allows customers to:

• Reduce the time spent resolving payment issues with a global way to monitor and track cross-border payments in near real-time status.
• Access the tool from any device.
• Track the status of international wires in more than 20 currencies, up to the final beneficiary.
• Offer open access to direct searches to clients, branches, originators, and beneficiaries.
• Monitor date, currency, and amount credited to the beneficiary and gpi payment duration.

“Wells Fargo’s Payment Tracker is the new foundation for transparency in global payments. Transparent, simple to use, and easy to understand, Payment Tracker will help our clients reduce their own service costs by sharing with customers the ability to track their payment status from any digital device,” said Judd Holroyde, head of Global Product Management at Wells Fargo.

Established since 1852, San Francisco based Wells Fargo & Company is an American multinational financial services company with $1.97 trillion in assets. Wells Fargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. Its vision is to satisfy customers’ financial needs and help them succeed financially. Recently, the company entered into a data exchange agreement with Envestnet | Yodlee