Secure your place at the Digiday Publishing Summit in Vail, March 23-25
How big tech and retail are inspiring consumer innovation at Wells Fargo
In the new world of banking, banks come to their customers — not the other way around.
On Tuesday, Wells Fargo released a new “predictive banking” feature that pushes insights based on customer data and more personalized guidance. It could flag higher-than-normal automatic monthly payments or remind customers to transfer money between accounts to avoid an overdraft fee, for example. It’s similar to how other banks are experimenting with voice capabilities; like USAA and U.S. Bank’s experiments with Alexa skills or Bank of America’s digital assistant erica.
Customers have driven the evolution of banking channels from branches to phone banking to ATMs to desktop and mobile apps for the last 100 years, but the next waves of demand aren’t driven by banks and financial services companies anymore — they’re driven by tech companies and retail, according to Brian Pearce, svp for enterprise artificial intelligence at Wells Fargo.
“The companies that are setting the bar for the industry are Apple, Google, Facebook and Amazon,” he said. “Those companies dominate our customers’ lives.”
More in Marketing
‘Nobody’s asking the question’: WPP’s biggest restructure in years means nothing until CMOs say it does
WPP declared itself transformed. CMOs will decide if that’s true.
Why a Gen Alpha–focused skin-care brand is giving equity to teen creators
Brands are looking for new ways to build relationships that last, and go deeper than a hashtag-sponsored post.
Pitch deck: How ChatGPT ads are being sold to Criteo advertisers
OpenAI has the ad inventory. Criteo has relationships with advertisers. Here’s how they’re using them.