The multinational financial services company plans to combine a multi-cloud approach with third-party data centres to achieve technological speed, agility, and scalability for its customers and employees
A Wells Fargo building in Texas. (Credit: Fredlyfish4/Wikimedia Commons)
US financial services major Wells Fargo has selected Microsoft Azure and Google Cloud as its public cloud providers as it embarks on a new digital infrastructure strategy.
The strategy will see the firm combine a multi-cloud approach with third-party data centres for driving technological speed, agility, and scalability for its customers as well as employees.
Wells Fargo technology head Saul Van Beurden said: “Launching our new digital infrastructure strategy is a critical step in our multiyear journey to transform Wells Fargo, making it easier for customers to do business with us and creating a better working experience for our employees.
“The Wells Fargo of tomorrow will be digital-first and offer easier-to-use products and services, and all of that starts with driving speed, scalability, and enhanced user experience through the next generation digital infrastructure strategy we’re announcing today.”
Core to the digital infrastructure strategy is the selection of the public cloud providers, said Wells Fargo.
Microsoft Azure will be the company’s primary public cloud provider. Google Cloud, on the other hand, will provide it with additional business-critical public cloud services.
Wells Fargo said that it will utilise the Microsoft Azure platform to enable it to build innovative solutions in all bank functions. The cloud platform is also expected to provide a secure foundation for strategic business workloads, said the company.
Microsoft will also help Wells Fargo in using critical data and analytics services to fast track its digital transformation. This will result in the financial services major providing improved customer experiences and facilitate increased employee collaboration.
Microsoft chief commercial officer Judson Althoff said: “By standardising on the Microsoft cloud and trusting Azure as its most strategic and primary cloud platform across all lines of business, Wells Fargo will be able to advance its key business and technology transformation priorities across core areas like managing risk and control, personalised banking, and the digital branch of the future.”
Google Cloud will be used by Wells Fargo for driving advanced workloads as well as sophisticated artificial intelligence and data solutions. In doing so, Wells Fargo expects to move faster on driving customised experiences for its customers and clients.
The financial services firm said that an integral part of its digital infrastructure strategy is a secure and compliant cloud platform. Wells Fargo added that the cloud platform will give protections to safeguard the data, privacy, and financial assets of its customers, with a focus on confidentiality of data.
The new digital infrastructure strategy will also see the company shift to a set of third-party-owned data centres, while its longer-term aspirations will predominantly depend on the public cloud.
The third-party-owned data centres are expected to complement the public cloud offerings with private cloud and traditional hosting services, said Wells Fargo.