Wells Fargo 2014 Annual Report Download - page 15

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Innovation
The Digital Innovation Lab fosters
innovation and ways to enhance customer
experiences. Conducting pilots and
gathering feedback are key components
ofWellsFargo’s approach.
Mobile banking. Real-time account
alerts. Making an appointment
online with a banker. WellsFargo
developed all of these digital solutions
by emphasizing a test-and-learn
approach to innovation.
“We’re developing digital solutions
to simplify customers’ financial lives
and help them succeed financially,”
said Miranda Hill, a digital product
manager. “Technology should enable
and enhance the relationships we’re
building with customers.”
One manifestation of that
approach is the Digital Innovation
Lab, where WellsFargo tests new
technologies to understand how they
can improve customers’ financial
lives—before introducing these
concepts tocustomers.
From enabling customers to check
balances with a smart watch or
logon to a mobile session using their
voice, the Digital Innovation Lab
develops ways to enhance customer
experiences. Building demos,
launching pilots, and gathering
feedback are key components of
thisapproach.
Not all of the concepts get adopted,
but Miranda said this strategy
ensures that when we roll a product
or technology into production,
“Wedo so in an informed way.”
WellsFargo’s Miranda Hill | San Francisco, California
