Wells Fargo’s technology extension onboarded 10,000 people through the pandemic

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Synopsis

The focus of the India centre is to enhance the bank’s delivery capabilities in driving process excellence, innovation, automation, AI, and digital capabilities. Banerrji said the organisation’s plans to pivot to being more agile with a higher degree of cloud adoption and higher input of knowledge based tools and digital analytics has progressed seamlessly.

AP

Wells Fargo India & Philippines (I&P), the technology extension of the Wells Fargo bank has hired almost 10,000 people through the pandemic period, Arindam Banerrji, Executive Vice President and Managing Director of Wells Fargo (I&P) said.

The Wells Fargo India centre is the primary extension of the technology, operations, knowledge services of Wells Fargo for a wide spectrum of the company’s technology needs and has been on an accelerated growth path, Banerrji told ET.

“All of our processes in terms of hiring, training, making sure that the checks and balances, controls, compliances that we have in place are able to be delivered remotely… So in many ways, we were not disrupted at any point of time. Through the Covid period in terms of our ability to hire people and meet our business requirements. During the pandemic we onboarded over 10,000 employees in India and Philippines in a virtual environment and successfully inducted them into Wells Fargo in a variety of businesses,” he said.

Banerrji went on to add that in the current climate where companies are clawing for the best talent, Wells Fargo too has its eyes set on attracting top talent in these two geographies to serve the larger global interests of the bank.

“We all appreciate the quality of talent which is why we’ve been able to do so much for the global organisation out of these geographies,” he said. “We just have to continue to stay focused on the talent story in India because organisations such as ours (the technology extension) are now a very critical part of the bank. And it is our responsibility to make sure that we have the right levels of talent engaged in the market, and we’re able to operate within that. It’s more like a continuing watch on how talent evolves in India. It’s not static, and we need to stay ahead of the market on that.”

The focus of the India centre is to enhance the bank’s delivery capabilities in driving process excellence, innovation, automation, AI, and digital capabilities. Banerrji said the organisation’s plans to pivot to being more agile with a higher degree of cloud adoption and higher input of knowledge based tools and digital analytics has progressed seamlessly.

“We are progressing at the same pace as we had expected earlier in terms of cloud adoption,” he explained. “Pivoting our organisation into a more agile one has continued and probably we’ve grown faster than earlier in terms of our agility. Our adoption of specific tools to enable analytics or digital capabilities and the technologies which support that, whether it’s machine learning, artificial intelligence or robotics, these are areas where we’ve continued to scale up. And the technologies have kept pace with that.”

He spoke of the rollout of the Paycheck Protection Program (PPP), throughout 2020 and 2021 where Wells Fargo played a huge role and helped hundreds of thousands of small businesses get the resources they needed.

Overall, Wells Fargo processed around 480,000 loan applications. The company launched new automation and technology designed to enable processing more applications at a faster rate. Enabling digital channels for customers to apply for PPP loans was a game changing strategy, which was enabled by I&P’s digital teams within a very short duration of time, Banerrji said.

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