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Wells Fargo has added a digital payments division during its reshuffle (WFC)

This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. As part of a management reshuffle on Monday, Wells Fargo created a new division focused on “payments, virtual solutions, and innovation,” according to the New York Times. The division, which will be headed by current head of consumer lending Avid Modjtabai, will include bank operations, consumer credit cards, research and development, digital and mobile banking, and payments teams.
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