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Charles Scharf
‘We Need to Be a Technology Company.’ Wells Fargo Struggles With Aging Systems.
At 5 a.m. one day last February, construction work tripped a sophisticated fire-extinguisher system in a Minnesota data center used by Wells Fargo WFC -0.44% & Co., knocking out power to servers housed in the building. Customers soon noticed: the bank’s online and mobile banking systems were out for hours. The outage brought into public …