Why Bankers Should Think Like Technologists
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User Rank: Author
9/29/2014 | 8:51:28 AM
Re: Bankers Need to be Tech Savvy
That's very true, the CIO, and the technology side of the bank more than ever need to be aligned andintegrated to meet the bank's business goals.
Rob CEO,
User Rank: Apprentice
9/27/2014 | 9:47:41 AM
Bankers Need to be Tech Savvy
Great perspective, Jim. When bankers do their annual strategy planning, it needs to be done in collaboration with the CIO and the CTO so the architectural and IT strategy aligns with business goals and vice versa - they need to help drive each other. Some business goals will not be realized without understanding what technology is required to support it, and what IT technology brings to the enterprise, while the IT organization needs to understand the enterprise business strategy and bring in tools that help drive the business goals. Bankers that say they just manage risk and price don't have a 21st century vision of where financial relationship management is heading. They need to understand the new Banking 101 concepts that are changing this world.
User Rank: Strategist
7/17/2014 | 2:16:48 PM
Don't forget this goes both ways?
I have to agree with Jim that bankers need to come across the aisle as there is so much more technology can be doing for them.  With that said, I would also encourage those technologist out there to do the same.  We need to quit going to ONLY technology conferences (we all know it happens all to often as well) and spend a little time at banking conferences or maybe better yet a school.  

Technology itself not the answer. Colaborating on real business problems with bankers assisted by technology is where the magic happens. 
User Rank: Author
7/8/2014 | 9:48:08 PM
IT an asset, not cost center
Jim, your comment toward the end of your column about the need to view IT as an asset that adds value shows how much things have changed in banking (or need to change). There have been many efforts over the years to view IT as a distinct business within the enterprise that could be monetized (selling services and processing capabilities, developing systems that could be marketed to other banks, etc.). At some banks the IT group had to pitch its services to the business units and competed with other vendors. This was progressive thinking at one time -- especially when most banks viewed IT as strictly a cost center. I think what you are describing is a different way of thinking -- it's not about justifying IT investments, it's more about technology being the business and being inherent in the most important products, services and functions. We've been saying "IT is the business" for some time but now it is reality, not aspirational. Thanks for your insights.

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