Wells Fargo has launched a new digital banking platform dubbed Vantage for its clients in commercial banking and corporate and investment banking.

Previously offered by Wells Fargo as the Commercial Electronic Office or CEO Portal, Vantage is said to have improved features through the use of artificial intelligence (AI) and machine learning (ML).

The new platform is claimed to drive a more personalised experience that can meet the financial requirements of businesses at all stages of growth.

Vantage offers a one-stop-shop digital banking experience by scaling right along with clients, said Wells Fargo.

By leveraging AI capabilities, Vantage will offer recommendations and next steps based on the specific requirements of clients.

Besides, ML will support the digital banking platform to refine customisation and ensure scalability.

Wells Fargo digital for commercial banking and corporate and investment banking clients head Reetika Grewal said: “Our Commercial and Corporate clients’ banking needs evolve over time, which is why we’re delighted to launch Vantage, a digital banking platform that simplifies and personalises their experience so that they can stay focused on what’s most important – growing and improving their businesses.

“Vantage uses cutting-edge AI and ML to offer a tailored and intuitive platform based on a client’s specific needs.”

The launch of Vantage is said to be a continuation of Wells Fargo’s digital transformation efforts, which include the rollout of a new consumer mobile app in early 2022.

Wells Fargo followed the app launch with the recent announcement of a new virtual assistant called Fargo, which is set to be made available to customers shortly.

Fargo leverages Google Cloud’s AI to offer a better customised, convenient, and streamlined banking experience, said the financial services provider.

The digital capabilities rolled out by the financial services company are said to be a part of its multiyear plan to become digital-first and transform personal finance.