Being a leader of digital banking transformation initiatives is no easy task. It requires a special someone who can combine operational and strategic business agility to retain customers and keep them happy — across every channel and touch-point. These leaders have become key to any bank’s long-term omnichannel success.
Also fueling digital banking transformation is data, and as it turns out, IT operations is commonly at the epicenter of data collection. This is why we see so many CIOs taking on an expanded leadership role that not only includes managing the underlying IT infrastructure and the integration of new technologies, but also overseeing the enterprise-wide data strategy. Their strong ties to IT put them in a unique leadership position that can help banks figure out the best way to collect data and make it readily available for any new use case or initiative that comes along.
In the expanded role as a “data broker”, CIOs can provide on-demand answers to the burning questions of various channel, marketing and security teams, organization-wide. They can make sure rich data such as customer transactions is more accessible, and share it securely across multiple departments and banking channels at speed. This is an important step away from silo’d systems management and a move towards omnichannel management.
A whitepaper released by INETCO titled, “The CIO Advantage: Controlling the epicenter of customer data for digital banking transformation and omnichannel management“, talks about the evolving leadership role of CIOs when it comes to digital banking transformation initiatives and the enterprise-wide data strategy. This short read is meant to help CIOs think about how they can avoid pockets of disjointed data investments, and increase the value and utility of customer data by changing the way it is:
- Captured in complex banking environments
- Used to spot performance issues and improve operational efficiency within IT
- Shared across various channels and departments enterprise-wide, to drive digital transformation initiatives and omnichannel management
When you have a moment, download the whitepaper, and spend some time thinking about what it means to be at the epicenter of customer data. If you have any questions, you can always reach out and contact me direct – as always, I welcome your thoughts.