Updated: Oct 3

In 2020, one of the most critical issues before us is the better and more use of modern technologies in all industries and businesses to improve services and speed in providing services. In 2020, one of the things that made us better understand modern hardware and software technologies was the coronavirus epidemic. Last year, the virus became contagious and overshadowed most businesses that would typically require individuals' physical presence.

All companies had difficulty traditionally providing their services. Even the government had many problems in delivering its services to individuals in person. This became an issue that the need to use new scientific contexts in order to serve the people should be considered as much as possible. Financial services and banking activities were one of them.

At the onset of the coronavirus epidemic, banks in most states shut down their in-house services. Simultaneously, the need to perform financial and banking services in absentia on the Internet or to use under-the-phone applications or new methods was considered. The fact that banks are able to put all or at least most of their services in the context of technology is definitely a disadvantage of using technology.

Of course, this will require the necessary hardware and software. Of course, the law should also publicly enact new rules to simplify services. This issue should also be considered at the international level.

The banking industry is one of the most essential industries in the world and the growing spread of human knowledge in the field of electronic sciences This industry has also benefited a lot from this knowledge Have.

Today, banks in developed countries work as professional consultant, specializing in increasing financial resources Companies and collecting and exchanging necessary information for customers.

They act on their own and are one of the economic drivers of each are considered countries. This has caused space to establish close competition between them.

With increasing development of Technology and industrialization of countries, bank managers on the rise of new banking services that are distinctive. It has a special privilege to attract compared to the services of other competitors has customer deposits. In strong countries in the banking industry, more than 70% of the banking affairs of the users of the services a bank without being present at the location of bank branches and using electronic systems take place, so banks with application of modern technology in the banking industry and implementation Customer-centric plan, trying to reduce the need for referral Customers have a branch at the location so that customers can be on site do your major banking work or residence this way give.

Currently, Wells Fargo Bank is not in a good position in using technology and up-to-date financial and banking services in the digital arena. One of the obstacles to this is the human resources and the traditional view of the bank in banking activities. With 230,000 employees, this bank practically carries out most of its activities in the traditional bank branches.

In the banking sector, innovations such as e-money, transfer terminals, automatic payment and receipt, virtual banking and banking instant internet have made a massive difference in this area and have remoted efficiency, productivity, and establishment speed.

Communications and reduced operating costs for banks. Therefore, banks to gain a competitive advantage in market areas. Financial to attract financial resources, you need electronic banking and Use relevant technology. The most critical challenge at Wells Fargo-banking faces it, the lack of a culture of use. It is from this technology and the dominance of traditional trade. The spread of such cultures can be a growing trend for we have provided banking development. Human resources skills: in banks and institutions financially, most services are provided by human resources

Equipping resources at the level of global standards require it has skilled and trained staff. In the technical dimension, employees should be able to use new technology and get a job to be professional. In the human dimension, employees must interact and communicate with customers in the best way and in the dimension perceptually, the manpower employed must be identified, decomposed, and analyze and solve customer problems. In this respect, Wells Fargo Bank is not in a good position and will definitely need proper staff training to get acquainted with new technologies.

Of course, the issue of training is not only for the employees and human resources of this company and we should also try to train the bank's customers. Each technology must be considered in two areas. The first is used in the field of work and interbank and the second between users as a customer and the bank.

Identify customers and their diverse needs with modern marketing. It is possible. In modern banking, banks to identify. Customers and their needs for one-on-one marketing They do marketing based on databases. One-on-one marketing It means creating and managing an individual relationship with every customer. Today Because of the use of computer technology, one-on-one marketing It is large-scale, feasible, and economical. Base technology, the data also allows banks to track one by one to follow your customers.

In the international arena, most European countries and Japan, China, Singapore, and Australia perform an acceptable number of activities electronically and digitally by updating themselves and using modern technologies. There have also been profound changes in international transfers as well as commercial banking services in this industry, but Wells Fargo Bank, due to its domestic vision and focus on the domestic customer sector in the United States, as well as the traditional way of providing customer service from abroad and international is also far away.


It seems that Wells Fargo Bank has not been able to use up-to-date hardware and software technologies to simplify and reduce service delivery time among domestic banks as well as leading international banks, and still wants to continue operating traditionally. Due to the need for people to be faster in banking activities and simplify access to banking, interbank and international transfers, it can be recommended to focus more on providing electronic banking services instead of increasing the bank's physical branches.


Innovation & Technology at America’s Top 10 Banks

Innovation & Technology at America's Top 10 Banks (

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