Scott Dillon (2015)
Scott Dillon is head of Enterprise Information Technology at Wells Fargo, one of the country’s largest and most innovative information technology groups with more than 13,000 talented team members who help keep Wells Fargo at the forefront of America’s diversified financial services companies.
Under his leadership, technology team members set IT strategy, deliver systems software design and development, and provide Wells Fargo global customers ‘round-the-clock’ banking access through in-store, online, ATM, mobile device and telephone transactions. They serve customers directly through systems availability and security, as well as indirectly, through internal business partners who deliver a wide range of financial products and services.
During his nearly two decades with the company, Scott has held various executive positions, including global head of Technology Infrastructure Services, head of Enterprise Hosting Services, chief information officer for Wholesale, Trust and Investment Banking, and head of Payment Strategies – where he created and led the Strategic Alliances & Ventures groups.
Prior to joining Wells Fargo, Scott was a Partner at Deloitte Consulting holding various leadership positions in the Strategy and Financial Services practices while also acting as a Lead Client Services Partner for multiple top 10 financial services organizations.
Scott received a Bachelor of Science degree in Banking from the University of Minnesota Carlson School of Management.
The financial services industry is truly in a time of extreme change. The pace of innovation and proliferation of mobile devices has completely altered our expectation of technology. We are all using technology in new ways to do everyday tasks like deposit a check, order groceries, pay for coffee or board a plane. The current buzz word is disruption but it comes in many forms. To Wells Fargo, disruption means anything that causes us to change or rethink our approach and, in some cases innovate our model –whether in security, operations or consumer habits.
The reasons for the disruption we feel are clear and obvious. Customers want what they want when they want it. To meet these ever-growing expectations, most companies are redefining customer interactions and how they address them. Many are developing omni-channel approaches to ensure they provide customers the tools they need. In order for companies to stay ahead and to continue offering superior customer service, it is vital that STEM stay at the forefront.
STEM education provides upcoming generations the opportunity to continue embracing new ideas and technology that will drive innovation in the future. Developing skills in science, technology, engineering and math will give young people the opportunity to succeed in any field they decide to go into. There are many aspects of the world where STEM education is vital. It can lead to medical advances, the way people interact with each other from various locations around the world, and it can even lead to solutions for some of the world’s greatest challenges such as climate change — to name a few. However, to narrow in on the financial services industry, skills in STEM will bring about the next wave of disruption that will ultimately change the way and help our customers succeed financially in the future.
Venture capital firms, private equity firms, portfolio companies, universities and large technology vendors all make up the technology ecosystem within the financial services industry. In order to promote advances in technology and STEM education, Wells Fargo dove into the ecosystem by conducting our first campus “protothon” with students from Stanford University and UC Berkeley in October of 2014. During the protothon, people with different skillsets from different backgrounds formed teams to develop initiatives and prototypes designed to help millennials start saving and build financial health and stability using online and mobile platforms.
At the protothon, each team worked side-by-side with leaders in our company from different lines of business, as well as professionals in startup businesses and data analytics who served as mentors for the college students. The protothon was a great opportunity for us to participate and engage with the millennial generation to stimulate interest in STEM opportunities. The winning idea incorporated an online website where millennials could express their financial issues or concerns, without needing to go to traditional advice channels. The runner up developed a mobile app to assist millennials in saving for their futures. This is one of several examples of how companies, like Wells Fargo, have stepped up to help build an exceptional, technically skilled workforce.
Disruption is good for business. It enables change and investments to position a company towards the future. Customers in any kind of business, using any type of product or service, deserve to have a seamless experience. Technology helps companies to offer this to their customers, and that is why STEM education is so important. Innovation won’t do it alone. Our greatest successes will come from our ability to build environments and a culture that promotes STEM skillsets in all levels of education. The importance of STEM will only increase as technology becomes even more pervasive in aspects of our daily life. The investment of time and resources to prioritize STEM will lead our industries into the future because people will always be your company’s biggest competitive advantage.
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.