Fintech entrepreneur Peggy Mangot joins Wells Fargo's Innovation Group

Wells Fargo has appointed Peggy Mangot as the senior vice president of its Innovation Group’s design and delivery leadership team, American Banker reported.

Mangot served as the CEO of SparkGift, which was acquired by Stockpile last year. SparkGift is a microinvesting platform that enables users to give stocks and index funds as gifts. Previously, she led strategic partnership management at Google focusing on Google Wallet.

Mangot has held senior roles with Visa, PricewaterhouseCoopers, Allianz, and Accenture. She began her career as a financial markets & payment system risk analyst for the Federal Reserve Bank of Chicago. Mangot joined Wells in August.

In an interview, she said that she 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. Mangot 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, as quoted by American Banker.

Wells Fargo announced the formation of a new Innovation Group in July 2015. It said that the Innovation group will work in partnership with its major businesses to meet evolving customer needs and stay ahead of the shifting competitive landscape. In particular, it will focus on five core areas: research and development; innovation strategies; payment strategies; design and delivery; and analytics.