How Wells Fargo’s innovation process rebooted digital business banking

Development of Wells Fargo's new Vantage banking platform for business customers began from an atypical starting point: Think about people first, tech second. Reetika Grewal describes how her team rebuilt a respected business banking package into something new.

Innovation in commercial banking often lags the retail banking side, where product improvements roll out more frequently.

But as Wells Fargo’s Reetika Grewal sees it, the development process for both should be similar. Whether the customers are business people or retail consumers, figuring out how to best meet their banking needs comes down to better understanding who they are, she says.

Grewal — who has been charged with rethinking the digital experience for Wells’ business customers — joined the bank in early 2021 as executive vice president and head of digital transformation for its commercial bank and corporate and investment bank. A digital business banking veteran, Grewal spent early days in the job evaluating all that Wells has for small and midsize business customers and how those offerings could be improved.

“My biggest takeaway was that the range of customers that we serve in this space was not reflected in the tools that we offered our clients,” says Grewal. Wells had a lineup of digital business services that used recent technology, but with little customization or adaptability built in.


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