Wells Fargo will continue to drive its digital capabilities in 2022, building around an enhanced mobile banking suite and rapid growth in real-time payments during the previous year.

The $1.95 trillion bank reported fourth-quarter 2021 revenue of $20.9 billion, up 13% year over year. Net income clocked in at $5.8 billion, up 86% year over year. Technology, telecommunications and equipment spend in Q4 totaled $827 million, a 12% increase over the previous quarter and a 1% decrease YoY.

A key area of focus for the bank will be its revamped mobile experience, which was announced last year and is set to launch in Q1, Charlie Scharf, Wells Fargo chief executive officer, said Friday during the bank’s Q4 earnings call.

“We announced a rebuilt mobile banking experience for consumer and small business customers that is set to begin rolling out this quarter,” Scharf said. “It has a new look and feel and a simpler user experience that will help our customers more easily accomplish their banking needs.”

A pivotal addition to the platform will be Fargo, a virtual assistant that leverages machine learning to answer customer questions, complete rudimentary tasks, and provide personalized responses and insights to the user.

The rebuild is “necessary” to drive digital banking adoption for clients, Scharf said.

Customer use of real-time payments platform Zelle — which counts Wells Fargo among its chief backers — showed strong growth throughout 2021, and the bank said it plans to further strengthen its user experience.

“We’re beginning to invest in our broader digital payments across the platform, enhancing our capabilities, increasing limits and broadly reducing the friction in moving money,” Scharf said. “As evidence, Zelle momentum continued to accelerate, with Zelle transactions up 46% from a year ago.”

The bank also noted areas for opportunity in digital innovation, including process automation in call centers and fraud detection, digitization of consumer and business lending, and intelligent operational automation in commercial banking markets.

Shares of Wells Fargo were trading at $56.69 at market close, down 2.36% from market open.

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