The use of artificial intelligence (AI) and automation at Wells Fargo has resulted in a significant increase in positive customer feedback. By streamlining processes related to managing the bank accounts, mortgages, and financial assets of deceased relatives, the bank has seen a rise in recommendations from customers. This investment in technology has led to improved customer satisfaction, with the bank’s net promoter score increasing from below zero to over 60 for family members dealing with bereavement.
Headed by Sangeeta Doss, the Estate Care Centre at Wells Fargo has implemented AI and business process management software to automate estate management processes effectively. Through integrating diverse computer systems across the bank, Wells Fargo has been able to reduce errors and streamline operations, resulting in significant time savings.
Despite some manual work that still remains, the bank’s use of automation has proven to be beneficial, with senior managers reporting fewer complaints. Plans to upgrade the software to utilize more AI features are underway, with the goal of enhancing customer service and simplifying operations further. Additionally, Wells Fargo is exploring opportunities to move its IT systems to the cloud in the future.