Hector Ponte, Region Executive, Wells Fargo South Florida

In an interview with Invest:, Hector Ponte, Wells Fargo South Florida Region Executive, shared why they are actively involved in addressing housing affordability, transportation, and education, how they support small businesses through initiatives like Strive305 HUB, and shared technological innovations that personalize the banking experience.

Reflecting on the past year, what do you consider to be Wells Fargo’s most significant milestones or achievements?

I lead our branches in South Florida, covering Miami-Dade, Broward, and the Keys. Because branches continue to be a top priority for Wells Fargo, we are investing in our branch network through our refurbishment program. South Florida is a priority market for the company, and as of January 2025, we have already refurbished 89 out of our 115 branches. The upgrade to our branches doesn’t only include paint and furniture updates; it’s also focused on turning our branches into advice centers, making it possible for our customers to learn to use the tools available to them and providing opportunities for our bankers to deliver better service, advice, and guidance. The updated floor plans allow for more privacy, enabling more consultative or advice-based conversations with customers. On the technology front, we launched our AI-powered virtual assistant, Fargo, in our mobile app and also introduced it in Spanish. Fargo enables customers to manage their financial lives and enhances the digital experience by making it more personalized. Instead of navigating the app to find what they need, customers can simply interact with Fargo. For example, they can ask, “Fargo, how do I change my address?” or “Fargo, I lost my ATM card. How do I block it?” This feature makes the experience more interactive and easier for customers.

We also introduced LifeSync, a digital approach to aligning customers’ financial goals within their mobile app. Customers can start setting goals in a branch with a banker and continue tracking them on their mobile device or vice versa. Additionally, we launched a digital account opening feature. Customers can now open deposit accounts online and complete the process in a branch using a QR code on the banker’s screen. This reduces paperwork and speeds up the process. So far, this feature has been implemented for individual consumer accounts, and we plan to expand it to joint and business accounts. These initiatives are aimed at making the experience better and faster for our customers.

With technology becoming increasingly relevant in today’s banking landscape, how are you leveraging innovation to optimize client service?

Wells Fargo has one of the top banking apps, and Fargo, the AI-powered virtual assistant within the mobile app I mentioned earlier, contributes to that. However, providing excellent customer service is also about offering customers options. Some customers prefer to walk into a branch for certain transactions, while others may choose to use their devices, an ATM, or call a 1-800 number. We focus on giving customers the flexibility to choose the method that makes the most sense for them.

For example, if a customer is traveling to Europe and needs to order euros, they can do so on their mobile device and have the currency mailed to their home or pick it up at a branch. Providing options rather than dictating a specific method allows us to cater to different customer preferences while maintaining the quality of service.

What is your overview of the banking and financial services industry in Miami at the moment? 

On the consumer side, activity remains healthy. People are traveling and dining out, which is partly due to the strong labor market in Florida, particularly in Miami. However, living in Miami is financially challenging for many of our customers. Home affordability continues to be an issue across Florida, with a very hot housing market and rising insurance costs. Our focus is on equipping our team with the skills to ask the right questions and understand our customers’ needs. This is critical to provide the right advice and guidance.

Across the industry, there has been an increase in financial fraud, which often happens during challenging economic climates. We prioritize educating our customers on how to spot fraud attempts, setting up mobile alerts, and leveraging app features for protection. We send email communications and provide tools to help customers stay connected with the bank and safeguard their accounts. Our coaching efforts with employees emphasize providing advice and guidance to customers.

Another unique aspect of South Florida is its small business landscape. South Florida is home to a large number of small businesses that continue to experience growth and that’s exciting! Additionally, as the current chair of the Greater Miami Chamber of Commerce, I see this excitement reflected across industries, speaking volumes to the uniqueness of Miami.

What financial guidance or support do you offer your clients to bridge the gap between rising home prices and the low inventory supply?

Well, aside from what we do day in and day out to help customers with their financial needs, we are proud of our Hope Inside offices. We have allocated space inside select branches across our organization to increase access to financial education and guidance. We have a partnership with Operation HOPE, where we offer credit and money management resources free of charge to all residents at select branches across South Florida. 

Their financial coaches support those branches and also extend their services to neighboring branches. They meet with customers and non-customers who need help beyond our traditional services and guidance. They help customers and non-customers improve credit and credit scores, get their finances in order to start a small business, start a savings program, and more.

What are some of the expected outcomes of Strive305 HUB, which is an all-in-one resource platform designed to help small businesses connect with essential resources? 

We just kicked that off with Miami-Dade County Mayor Daniella Levine Cava and the Office of Innovation and Economic Development at Miami-Dade College. It was an exciting announcement. Strive305 Hub, which is powered by the county and funded by Wells Fargo, aims to support small businesses by making essential resources easily available, community partners, training, enhanced access to guidance about funding opportunities, and more.

Small business owners are often busy running their businesses, and they do not always know what resources are available to them. They may lack some in-house capabilities, and Strive305 connects entrepreneurs to resources, professionals, and solutions that can help them address many of their ongoing challenges and needs. This program follows our $20 million grant to the Miami Foundation for the Miami Open for Business program, and we are now in the final year of that program.

That $20 million came from our Open for Business Fund. During the pandemic, when we processed PPP loans, we decided not to keep the funds the government allowed us to retain. Instead, we reinvested them back into small businesses. The Open for Business Fund enabled small businesses to purchase equipment, and property or expand their operations. So far, more than 300 small businesses and nonprofits have benefited from this initiative. 

Under your leadership, how has Wells Fargo expressed a commitment to employee training and education, and how is it reflected in your current or future initiatives?

Education and employee training are extremely important, probably now more than ever. I have been doing this for 38 years, and the pace of change in the industry has accelerated significantly. Supporting our employees in this fast-changing environment is crucial. We listen to our employees, understand their needs, and adjust our internal resources to provide the support they require.

We have implemented a lot of virtual training for our employees, but we are also bringing people back into classroom settings for face-to-face discussions and skill practice. This includes active listening and understanding customer needs based on the cues and clues they provide. Especially as our customers now choose how they bank with us, many do not walk into branches as often as they used to, so when they do, it is important that we identify how best to support them and provide the advice and guidance they need.

What are Wells Fargo’s top priorities and strategic goals for growth and innovation over the next 2-3 years?

Our top priority is continuing to invest in our people. If we take care of our employees, they will take great care of our customers. Preparing our employees is essential. I mentioned our investments in locations and technology earlier, and those remain critical. We cannot afford to be stagnant.

In my 38 years, change has been constant, but the pace has picked up dramatically. I expect it will continue to accelerate. Making the right investments in our employees will benefit our customers and, ultimately, the organization in the long term.