Recently, Wells Fargo has struggled with outages that have underscored technology failures from antiquated systems. The cloud initiative will allow the company’s technology team to build and deploy applications faster, which will benefit the bank’s customers.
Wells Fargo’s information technology team could spend less time fixing software bugs and overseeing IT operations as part of the shift to public cloud services, which automatically perform some of those functions, Mr. Van Beurden said. The risk of outages may be reduced because of the cloud’s ability to automatically detect when certain apps start to fail and automatically remediate the issues, he said. “Of course, that’s one of the reasons to do this,” he said.