LAS VEGAS — Wells Fargo is looking to launch treasury management services for dealers, Jeremy Jansen, head of business development for Wells Fargo Distribution Finance, said Tuesday during the Powersports Finance Summit.
“[Treasury management is] something that we’re aggressively pursuing, really, for the first time in the seven years since I’ve been at Wells Fargo,” Jansen said, noting Wells Fargo serves more than 17,000 dealers in the U.S. “The time is right, we feel, to fully bank our dealers.”
“We’re trying to figure out ways to expand our offering. How can we provide real estate financing for our dealers, lines of credit and do some other things alongside our floorplan?” Jansen added.
With regard to the market overall, he added that “from a credit standpoint, and a portfolio standpoint, we’re cautious about what is happening around us, but our dealership credit profile today is as good as it has ever been in the history of our business.”
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