“ team constantly looks for what is the next best experience for our customer,” said Van Beurden. The first pillar is an innovation unit that reports to a peer of Van Beurden’s, Ather Williams III, who is the Senior Executive Vice President, Head of Corporate Strategy, Digital Platforms and Innovation at Wells Fargo. That innovation is based is also structured, in this case into three pillars. The technology team has re-infused the company with the art of the possible. By maturing and driving value in each area, the goal is to deliver better capabilities for innovation. Van Beuren hoped to simplify things from a strategy perspective to validate progress relative to each of the six “S” categories. “Satisfaction is, for us, the cornerstone of the strategy.” “You can do all the other things, but if the end customer is still not happy with and app, and the uptime of the app, we have failed,” Van Beurden said. He highlighted that speed is the key differentiator to maximize revenues and to gain advantage over the rest of the market through better return on investment. You take away that whole notion of handoff, handoff, handoff.” Next, he noted that process automation is critical. “The analyst with the product idea sits down with the engineer who is supposed to build a feature, who is also the one who can directly put it in production because he or she is using DevOps tools like we have today. “You already near 60 weeks’ worth of work right there.” The improvement comes through multifunctional teams that do not require inefficient handoffs. “First product requirements, and then the prioritization with finance teams, and then it goes to a PMO, and then it gets to a project leader, and then IT intake, and IT intake to design, to technical design, to developers, to test, to production,” Van Beurden said. He highlighted the typical process with many handoffs along the way. He painted the picture of the typical way of doing things, and then offered the improvement. He has driven his team to halve or even to cut the time to a third of that. As a long-time financial services executive, Van Beurden noted that banks are slow, with the behemoths like Wells Fargo often taking more than a year to deliver programs. Van Beurden highlighted that this requires on-demand service, so that as transaction volumes increase, the technology seamlessly scales up and then can scale back as necessary. The offensive play begins with scalability. It's all about automating the processes on the IT operation side, and with rationalization of your applications.” He noted that these first three “S”s make up the defensive play. That stability is created by more and better resiliency. “When the digital app or the online desktop version is down, the bank is down,” Van Beurden underscored. With 90% of all transactions taking place digitally across Wells Fargo, stability is sine qua non.
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