Pitch Banking as a Service to Executive Leadership Committee

Opportunity

Traditional banks are facing competition from specialized fintech companies. How can Wells Fargo stay relevant and discover new business opportunities as customer needs and technology evolve?

The Innovation design team was tasked with researching business opportunities. We looked at market trends and internal capacities and decided the API development team could offer Banking as a Service.

Role

Research the latest trends in the market, not just in banking. Work with business partners to come up with lots of ideas. Make a short list and improve the ideas. Choose the best option. Write a clear and convincing series of stories to promote banking as a platform to the Operating Committee.

Process

Simplify the concept of Banking as a Service and Avoid technical jargon because the audience skews older and non-technical.

Illustrate, in words and imagery, an aspirational vision where Wells Fargo grows into banking-as-a-platform service over time, from basic embedded finance to offering banking-in-a-box services.

Final presentation

Results

It took months to fully develop the most promising vision. However, executive leaders rejected our proposed business model. During our last presentation, they couldn’t see the value in banking-as-a-service.