Wells Fargo Hires Payments Expert, Fintech Entrepreneur to Innovation Group

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Wells Fargo's innovation group has appointed Peggy Mangot for the newly created position of senior vice president of its design and delivery leadership team.

Becky Remmel

Mangot previously served as CEO of SparkGift, a microinvesting platform she founded that lets users give stocks and index funds as gifts. SparkGift was acquired in June 2016 by Stockpile, a firm with a similar business model. Mangot also worked at Google as head of partnership management, payments and commerce before creating SparkGift and earlier in her career she was a senior director of debit product management at Visa. She joined Wells in August.

In her new role, Mangot will help her team in "creating beautiful designs and elegant flows for customers to understand their offerings," taking inspiration from the types of experiences emerging from fintech companies, she said in an interview. She added that she is enjoying the experience of working with a small team inside a large bank.

"I was working at a startup where I was creating new experiences that would probably reach a million … at a large bank we can help create experiences that can reach tens of millions of customers," Mangot said.

Wells Fargo started the Innovation Group in July 2015 to be a catalyst for the company to quickly transform its business models, processes and programs and user experience. In addition to design and delivery it focuses on research and development, innovation strategies, payment strategies and analytics.