Testing Could be Wells Fargo’s Biggest Issue

Wells Fargo was in the news for all the wrong reasons last week as a reported fire triggered an outage where customers could not access account; the outage last more than 24 hours for some customers and had people voicing their displeasure on social media; testing for scenarios might be the bank’s biggest issue and not being able to forecast everything forces the bank to make choices; moving to a cloud based system could help to get the bank online quicker, but ultimately only so many scenarios can be tested; when an issue occurs that wasn’t tested the bank needs be transparent and figure out how best to communicate their timeframe about getting back online. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.