The bank is currently working on the technology’s pilot and hopes to make it available for customers by next year.
As per plans, the technology will depend on voice and facial recognition instead of passwords, enhancing customer experience.
Wells Fargo wholesale Internet solutions head Secil Watson was quoted by the San Francisco Business Times as saying: "Our intention is that someday biometrics will eliminate passwords. We are not there yet.
"In the next year, mobile business-banking customers will have their choice of authentication: they can choose between different biometrics or continue to use passwords and tokens."
Customers will be able to use the biometric authentication system while using its Commercial Electronic Office (CEO) portal that is used by the bank’s commercial, corporate and institutional customers around the world.
Wells Fargo spokeswoman Andrea Mahoney said: "Consumer-facing biometrics technology continues to be an area of experimentation within Wells Fargo Virtual Channels. We’re currently piloting internally with our team members (employees) touch-ID authentication for the mobile app.
"Customers participating in the pilot say their major pain point with traditional authentication — passwords and tokens — is convenience. The two key benefits they mention for biometrics are not changing their password every 60 days and eliminating RSA tokens."
