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Wells Fargo Increases Emphasis on Emerging Technologies Like AI

By   /  February 14, 2017  /  No Comments

by Angela Guess

According to a recent press release, “Wells Fargo & Company today announced it is enhancing the organization within its recently formed Payments, Virtual Solutions and Innovation group. The new structure aims to help increase connectivity for the company’s payments efforts, accelerate opportunities with artificial intelligence, and advance application programming interfaces to corporate banking customers. The investments into each area will help the company create innovative digital banking experiences, and make it easier for customers to achieve their financial goals.”

Avid Modjtabai, head of Payments, Virtual Solutions and Innovation, commented, “Customers want new types of services that make banking and managing finances convenient and easy – without disrupting their ability to interact with us how and when they desire… Since the announcement of our Payments, Virtual Solutions and Innovation group in October, our goal has been to redefine the next generation of capabilities and offerings, and to prioritize research and development that elevates the customer experience.”

The release goes on, “These focus areas include… Artificial Intelligence (AI): Wells Fargo sees an increasing number of opportunities to better leverage data to provide personalized customer service through our bankers and digital channels. To accelerate the company’s efforts, a new Artificial Intelligence Enterprise Solutions team has been created, which will be led by Steve Ellis, head of Wells Fargo’s Innovation Group. The group will be at the forefront of the company’s enterprise efforts in this rapidly emerging area, and shape future services for customers.”

Read more at WellsFargo.com.

Photo credit: Wells Fargo

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