BS&T 2011 Executive Summit Report: Driving Growth In a Changing Industry

For every growth opportunity that comes with new channels such as mobile and social media, there also are significant challenges and risks -- from security to legacy systems limitations to new regulation -- to be addressed. Finding effective ways to balance these opportunities and risks was the theme of Bank Systems & Technology's 6th annual Executive Summit, which took place this fall at the Royal Palms Resort and Spa in Phoenix.

With mobile and multichannel delivery among the hottest topics in banking, executives from several leading financial institutions took the opportunity to offer insights into the approaches their organizations are taking to optimize these still-evolving platforms. Andres Wolberg-Stok (right), Citi's SVP and director of mobile and emerging technologies strategy for North America consumer banking; and Jim Gifas, EVP and head of GTS Solutions U.S., Citizens Financial Group, RBS Citizens, spoke about strategies for leveraging the mobile channel.

"You cannot look at mobile and tablets as an extension of what you've been doing online for years," stressed Wolberg-Stok. "Don't let existing back-end or middleware technologies get in your way." He reported that for the recent makeover of Citibank's website, his team drew from newer technologies built for the institution's mobile platform.

Right: Citi's goal is "to help the customer feel [we're] with them wherever they are touching the institution," stressed the bank's Andres Wolberg-Stok, SVP and director of mobile and emerging technologies strategy for North America consumer banking.