Wells Fargo & Company (NYSE: WFC) provides retail, commercial and corporate banking services. Founded in 1852 and headquartered in San Francisco, the company has a current market cap of $234.94 billion.

Cloud Computing and Converged Infrastructure

We can all see how technology continues to move at a rapid pace. Trends around mobility, efficiency, global development, big data and social media are constantly shaping and re-shaping the future of the financial services industry. I have never seen a period in the life of technology where there have been so many forces hitting us at one time.
At Wells Fargo, we are laser-focused on understanding our infrastructure and how we run it as a competitive advantage for the company. It's not simply a matter of having certain trends and technologies as part of our business, but also embracing these changes with a pragmatic approach. To us, technology does not exist for its own sake, but to make it easier for our customers to work with us to meet their financial goals. We ask ourselves, 'What do we want to be able to do for our customers?' We then design IT to make it happen.


I do not believe there is a distinction between technology and the business anymore – we are connected in many ways, which spur purpose-driven innovation within the company. A great example of this is cloud computing.


The idea of cloud computing is gaining a lot of influence in the industry. Although we are not adopters of cloud computing in the traditional "public" sense, we believe in the benefits that can be reached with a converged infrastructure. The idea of cloud computing is an important transformation to technology infrastructure and there are aspects that are a fit for our organization. We adopted cloud-like solutions, including virtualization, to deliver IT as a service without having data "living" offsite. We are currently working on a project to dramatically improve the delivery of technology infrastructure environments.

Areas of Concern

The financial services industry is highly dependent on our technology capabilities to deliver our services and products to our customers. At Wells Fargo, there are various channels through which our customers interact with us (phone, stores, online, ATM, and others). Technology is a critical enabler to the company's overall mission to help our customers succeed financially. As the landscape evolves or new service models come into play, we work diligently to ensure we are driving efficiencies, but also thoughtfully using those efficiencies to help us and our business reinvest in delivering new offerings and innovation to our customers. While some may see this as a challenge, I continue to see this as an opportunity.


Another area of focus is around information security. As a financial services institution, information is the lifeblood of our organization and safeguarding customer information is a top priority. Security is at the heart of everything we do at Wells Fargo. We invest heavily in keeping our customers' information secure to provide the best service. Our team has significant protections in place and we constantly monitor the environment, assess potential threats and take action as warranted.

Be Connected to Consumer Value

Last year we completed the industry's largest merger ever, the joining of Wells Fargo and Wachovia. The amount of complexity involved in combining those organizations was mind-boggling. But, I think the merger was an inflection point for us to think about taking our technology to the next level. As you create efficiencies and balance, you are able to invest, expand and refine process and the services you offer.


One area that helped make this successful for my team was establishing a policy of IT consistency to assist with implementing technologies within our overall strategy. We firmly believe that everything we do has to be connected to customer value. What one or two things would make the biggest impact for your customers? Now, how do you go about making that happen? It may not be feasible for most organizations to "rip and replace" infrastructure so it's important to take a thoughtful and strategic approach in how you move your business forward. The governance and policy we have put around our technical plans has allowed us to upgrade or develop new applications much faster – either meeting demand or in some cases, getting in front of it.

Excitement and Pride Drives Us
Our entire team is proud to be responsible for one of the largest technology footprints, and our dedication and passion to deliver the right business outcomes helps keep our priorities focused. Although we do not see or interact with them on a daily basis, we never forget who we are really working for – our customers. My team members are located throughout the globe so it is important that we collaborate outside of our immediate four walls to solve for challenges and opportunities. I had an opportunity recently to speak with several members of the team in India, and the overall quality of team members and their engagement is infectious. The excitement and pride we have in our jobs is something that continues to drive us as a team.