“First product requirements, and then the prioritization with finance teams, and then it goes to a PMO, and then it gets to a project leader, and then IT intake, and IT intake to design, to technical design, to developers, to test, to production,” Van Beurden said. He highlighted the typical process with many handoffs along the way. He painted the picture of the typical way of doing things, and then offered the improvement. He has driven his team to halve or even to cut the time to a third of that. As a long-time financial services executive, Van Beurden noted that banks are slow, with the behemoths like Wells Fargo often taking more than a year to deliver programs. Van Beurden highlighted that this requires on-demand service, so that as transaction volumes increase, the technology seamlessly scales up and then can scale back as necessary. The offensive play begins with scalability. It's all about automating the processes on the IT operation side, and with rationalization of your applications.” He noted that these first three “S”s make up the defensive play. That stability is created by more and better resiliency. “When the digital app or the online desktop version is down, the bank is down,” Van Beurden underscored. With 90% of all transactions taking place digitally across Wells Fargo, stability is sine qua non.
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