Wells Fargo is deepening its partnership with Google Cloud to implement agentic AI throughout its operations.
In 2022, the two entities collaborated to introduce an AI virtual assistant named Fargo aimed at enhancing the retail customer experience. The expanded partnership will enhance the capabilities of various employees—including branch bankers, investment bankers, marketers, and customer relations teams—by providing access to AI agents and tools via Google Agentspace, a comprehensive platform designed for scalable agent development and management.
Within its corporate and investment banking sectors, Wells Fargo is developing AI agents to assist employees with complex foreign exchange post-trade inquiries and to streamline navigation through internal policies and data systems.
Moreover, for call center and branch staff, these AI agents will simplify routine tasks, such as processing balance inquiries and managing debit card replacements, thereby minimizing wait times for customers.
This automation is expected to enable bankers and traders to dedicate more time to nurturing client relationships. For instance, contract management is a significant area of focus, with Wells Fargo managing approximately 250,000 vendor agreement documents. A custom AI agent can swiftly analyze these documents to pinpoint essential information, such as specific clauses, payment terms, and contract types, ultimately enhancing consistency and operational efficiency.