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28 replies (most recent on top)
Hogan… the cutting edge in 1984. Let’s all get together and Bank on that!
I think that Saul gets it. He has a good vision for the future, but is confronted by a cumbersome and aging technology stack. How did we get here? To some extent, the various LOB's on the business side often have their own agendas and want to make decisions in the best interests of their siloed business lines. The Technology leaders want to please and capitulate. Later, we wake up and discover that our applications are expensive, difficult to maintain, and they don't facilitate enterprise objectives.
It is only a matter of time before the regulators move on fintechs.
Ahh -- Saul shows some colorful slides with aspirational goals and some creative spin-doctoring on "improvements" made -- and then the meeting goes into sleep mode --- Z-Z-Z-Z handoff to the underlings who injected instant Dullness and Boredom into what was previously interesting discussion.
You want agile, hungry and ambitious? Bet on the fin-techs -- they can't scale up as fast as bigger competitors but once they do --- game over, big banks!
Today's speakers were stating that tech needs to become channel agnostic -- as if that was a given. 1) Does that mean that the product managers will be centralized across the various LOBs? 2) Isn't channel agnostic another way of saying "single point of failure"?
I’m struck by the PayPal comment.
PayPal is quite literally conducting all of its payments business across WFs pipes. Though they were or already have moved to Chase.
PayPal does not exist without a big bank.
@igd+1com8tH4 when you have so called tech managers who refuse modern approach to tech, specifically, app dev, API's, and automation, due to the fact they don't understand it themselves or are afraid of losing their jobs, that is not the, (what do they call us now, oh yeah, "individual contributor's") problem to solve. They should be fired, not laid off. Fix your HR problems WF. For those saying "leave". Trust me, I'm trying very hard to do just that.
WF just settled a $7.8M discrimination lawsuit in which they must hire X amount of diverse candidates. Sorry white men and super sorry for old white men. Unless you are friend or relative of one of these white male sociopath leaders you are screwed. Remember when chainsaw said $6B in profit was good but not great. Perhaps if they stopped fu----g up the place they would have bigger profits. What a tool
To those who try to discuss DEI in a logical sense, understand it gets Charlie a few extra weeks of less arrows aimed at him from the outsiders. It "aint" gunna change friends. For every 6 figure salary hired in DEI, and they are amazingly many, Charlies only needs to let go a handful of producers. Charlie says smile.
Every time I read these, I am glad I am out of that tech sh!t show.
If you don’t like stack ranking, and a forced curve on your performance rating, you really won’t like working for Amazon.
Post ID: @als+1com8tH4
DE&I is just C-suite lip service. Nothing more. When I saw how Dimon’s son-in-law advanced here I stopped taking it seriously.
I think its a good time to go work for amazon, being in tech;
Someone in tech need some urgency! Last decade tone deaf. Hope Saul can get some talent in here, most of workforce here is lazy. He is Right fintechs are eating up the banks, no doubt about it
Customer journeys are an OLD concept. Digital Strategy Marketing has been using this forever, about time the rest of the company woke up.
I dont think they realize just how badly women are treated in tech at wells fargo. The bullying is intense and women do not usually get promotions. (just take a look at how many women are managers in IT)
Can anyone explain how Charlie hiring his white JPM Chase buddies forwards DE&I?
The fintechs are eating our lunches... The point of no return passed many years ago. PayPal has larger market cap, they are closer to buying Wells than us buying any Fintech of consequence. Meanwhile, we spend thousands of man hours chasing paperwork, change controls, security approvals, and other non value add activities. I spend 75% of my time doing backwards paperwork/processes and way too little time helping deliver a good product to our customers.
Oh, no... here comes DE&I queen with her diversity songs
anybody fill their "buzz word" bingo card yet? :-)
also-- good luck making the Hogan platforms nimble
@igd good take... but if only there were someone in charge of all of this to make it change?
So, who is gonna break the bad news to SVB that the LOBs will outmuscle Tech and make these plans get dumped in the toilet.
Cat or dog lover. May those of us without pets be enriched anyway. lol
It's a great vision but good luck implementing it in wells.
He's spot on -- projects often have no vision for future, business strategy is a joke if it exists, execution is a joke, siloed thinking is the norm. People claim something is "enterprise" but is not. Execution is constantly held back by detractors, or slow execution from any number of things, you need a ton of approvals, etc. etc.
Amazon is a much different world. Fintechs are also way different.
What was said about 562 Tech locations?
Anyone now hungry for spaghetti?
So according to him we need to copy Amazon business model?
- Tech locations