While Microsoft's Azure will serve as the bank's primary cloud provider, Google Cloud will provide additional business-critical public cloud services.
As part of its new digital infrastructure strategy, the company will also move towards some third party-owned data centers, as it aims to rely predominantly on public cloud in the longer term, it said.
The move makes Wells Fargo the latest big bank to use third-party data centers for cloud-related services.
The company did not disclose the financial details of its agreement with Microsoft and Google.
Multi-cloud enables flexibility and also allows businesses to off-load some of the heavy costs of running their own data centers by renting public ones.
(Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva)