Project Description

Silhouettes on cube boxes
By Lisa Frazier, Head of the Innovation Group at Wells Fargo

As the leader of the Innovation Group at Wells Fargo, I’m often asked how we decide what new technologies to pursue.

While exploring new technologies like blockchain, quantum computing, 5G, and artificial intelligence is important, applying new technologies is just one piece of the puzzle. What’s key is delivering on intuitive, simple experiences for our customers. At the end of the day, it’s about using the right tech at the right time to make something better. That means looking at how the world is changing now, as well as thinking ahead about where technology may lead us several years down the road.

Listening to the voice of the customer is the main factor that influences our decisions. We live in a time where commercial experiences are heavily influenced by consumer experiences. Customers expect companies to anticipate their needs and deliver seamless experiences.

Tools like application programming interfaces (APIs) are making it easier for integration in digital environments outside of a brand’s own platform. Biometric authentication, prefilled information, and e-signatures are tools we’ve come to demand in digital experiences, and we’re working to bring these features further into banking. We also expect recommended products or services to be personalized—simply targeting by segment or industry is not going to cut it anymore. Financial institutions have been seeing disruption like this across the industry, and many, including Wells Fargo, have been moving quickly to anticipate customer demands of the future.

Ultimately, keeping the customer at the center of everything we do is the most powerful guide for how we move forward. Customer behavior and feedback is a big part of data-driven innovation as we think about the future and make sure our investments in innovation are purposeful.

For more information, contact your Wells Fargo representative or fill out the Contact Us form on this site.