Wells Fargo's aim is to eliminate 'pain points' from the customer experience and produce 'delight-ers', a pursuit that has become increasingly sophisticated with technological change. Consumers are often exposed to experiences that are painless and, at times, delightful: the simplicity of a Google search, the brevity of Twitter, or the look and feel of Apple products. Many banks aspire to such experiences, but Wells Fargo has the advantage of being on the doorstep of some of the world's most innovative companies. As a San Francisco-based bank, the nerve centres of the likes of Google, Apple and Facebook are only a short drive away. Danny Peltz, Wells Fargo's executive vice-president and head of treasury management, points to the advantages of being close to Silicon Valley in terms of the technology that is emerging from the region and the talent that the higher education institutions attract. While the themes of social and mobile may be big in Silicon Valley, for Wells Fargo the overarching themes are global, mobile, and the transition from paper to electronic, explains Mr Peltz.
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