Wells Fargo forms payments and digital group

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Wells Fargo has created a payments, virtual solutions and innovation group led by 23-year bank veteran Avid Modjtabai.

Wells says that the new group will bring teams from across the bank in a “aligned and integrated” way as it seeks to deliver new payment and digital services and ramp up investment in research and development and build strategic partnerships with outside players in the new fintech era.

Modjtabai is a member of the bank’s operating committee and currently leads its consumer lending group and cross-company operations.

In his new role, from 1 November he will be in charge of a team of execs, including Steve Ellis from the innovation group, Shelley Freeman from consumer credit cards and retail services, and Jim Smith from the virtual channels.

Tim Sloan, president and COO, Wells Fargo, says: “Creating this new group will significantly enhance our ability to transform products, services and technologies to deliver simple, reliable and compelling new experiences for today’s and tomorrow’s customers.”

Post original em: https://www.finextra.com/newsarticle/29585/wells-fargo-forms-payments-and-digital-group