Internally: the culture of Wells Fargo embraced mostly financial metrics. The bank used traditional financial measures to track performance at all levels of the organization. They never tracked and summarized the underlying drivers of the business in systematic manner.
Over-reliance on financial measures helped in identifying the short-term decision making whereas the online banking business requires a long-term, strategic view of its role in the banking services.
Externally: marketplace is undergoing rapid dramatic changes. The changing competitive landscape in the Internet market requires OFS to frequently alter the prioritization for its initiatives and address