1
00:00:00,100 --> 00:00:03,200
The role of the Chief 
Information officer when it 

2
00:00:03,200 --> 00:00:08,100
comes to customer experience is 
crucially important but we don't

3
00:00:08,100 --> 00:00:12,300
talk about it enough. 
And today, on cxo talk, we're 

4
00:00:12,300 --> 00:00:16,900
speaking with Michael Rutledge. 
The Chief Information officer at

5
00:00:16,900 --> 00:00:21,200
citizens Financial Group. 
When we talk about the role, 

6
00:00:21,200 --> 00:00:25,700
your role of the CIO and the 
role of it in customer 

7
00:00:25,700 --> 00:00:30,400
experience, can you give us kind
of an overview of what's 

8
00:00:30,400 --> 00:00:33,900
involved? 
Step one is really understanding

9
00:00:33,900 --> 00:00:39,000
the customer needs and I think 
citizens does a terrific job of 

10
00:00:39,000 --> 00:00:45,000
listening for customers. 
We bring customers in and, you 

11
00:00:45,000 --> 00:00:47,900
know, they give us advice on our
mobile app. 

12
00:00:47,900 --> 00:00:52,700
We're constantly taking the 
pulse of our customers, both our

13
00:00:52,700 --> 00:00:56,100
retail customers and our 
commercial customers. 

14
00:00:56,400 --> 00:00:59,800
And we measure that we also use 
outside surveys. 

15
00:01:00,000 --> 00:01:04,400
Like JD Powers where we get an 
awful lot of data about 

16
00:01:04,400 --> 00:01:07,200
customers sentiments. 
And that is really important. 

17
00:01:07,200 --> 00:01:11,100
It's really important to me as 
the head of it, that I really 

18
00:01:11,100 --> 00:01:16,000
understand what that customer 
sentiment is and how we can go 

19
00:01:16,000 --> 00:01:18,600
about improving it. 
You know, one of the 

20
00:01:18,600 --> 00:01:22,100
fundamentals, things, when I 
joined the bank was ability, we 

21
00:01:22,100 --> 00:01:26,100
weren't where we needed to be 
from a system stability 

22
00:01:26,100 --> 00:01:29,800
perspective, and it's been a 
really maniacal focus of mind. 

23
00:01:29,900 --> 00:01:32,500
The last four years, really 
improving that. 

24
00:01:32,500 --> 00:01:35,700
And we've been proved it by over
75 percent. 

25
00:01:35,700 --> 00:01:39,800
And that's one of the first 
things I heard both from our 

26
00:01:39,800 --> 00:01:42,400
internal colleagues and our 
customer base. 

27
00:01:42,400 --> 00:01:47,600
Let's make sure that the systems
that we are building highly 

28
00:01:47,600 --> 00:01:52,200
reliable, highly resilient, and 
can withstand some of these 

29
00:01:52,200 --> 00:01:55,900
bumps in the night that you get 
occasionally to me. 

30
00:01:56,400 --> 00:02:01,800
The Gap. 
Is that your, your Focused in it

31
00:02:01,800 --> 00:02:07,700
on systems and reliability. 
And yet customers, don't think 

32
00:02:07,700 --> 00:02:10,400
about that, from a customer 
perspective. 

33
00:02:11,000 --> 00:02:13,500
You know, if you go on the 
mobile app or the website, it 

34
00:02:13,500 --> 00:02:17,200
just has to work. 
And so how do you, how do you 

35
00:02:17,200 --> 00:02:21,900
bridge that Gap into really 
directly affecting customer 

36
00:02:22,100 --> 00:02:25,000
perceptions? 
If you think about what's 

37
00:02:25,000 --> 00:02:29,800
happened, the last few years, 
you don't more amore. 

38
00:02:29,900 --> 00:02:33,200
Or customer expectation. 
Is that everything can be done 

39
00:02:33,400 --> 00:02:36,700
through a mobile device. 
If you look at our own internal 

40
00:02:36,700 --> 00:02:41,500
stance, you know, that the 
number of people logging into 

41
00:02:41,500 --> 00:02:45,800
our mobile applications 
increased over 22 percent year 

42
00:02:45,800 --> 00:02:48,500
over year. 
The expectation is that people 

43
00:02:48,500 --> 00:02:51,400
can do a lot more through their 
mobile device. 

44
00:02:51,400 --> 00:02:54,100
Whether pain a check-in, you 
know, they want to do 

45
00:02:54,100 --> 00:02:57,700
automatically through their 
mobile device whether check in 

46
00:02:57,700 --> 00:03:02,300
their balance and, and it really
has Being really trying to move 

47
00:03:02,300 --> 00:03:07,700
some of those what we call, 
assisted transactions, more, 

48
00:03:07,700 --> 00:03:09,900
self-service. 
Because really, that's what our 

49
00:03:09,900 --> 00:03:13,000
clients are really looking for. 
And to do that, it's really 

50
00:03:13,000 --> 00:03:18,000
important that the systems are 
architected in such a way that 

51
00:03:18,000 --> 00:03:21,600
you're able to remove the 
friction points from customers. 

52
00:03:21,800 --> 00:03:26,000
And we've been very sensitive to
that, in how we're designing the

53
00:03:26,000 --> 00:03:31,000
experience of all of our digital
applications, How much of this 

54
00:03:31,000 --> 00:03:38,200
is technology and how much is 
understanding the nuances of 

55
00:03:38,200 --> 00:03:42,200
what customers want and then how
do you how do you marry those 

56
00:03:42,200 --> 00:03:45,600
two sides together? 
For example, one thing has been 

57
00:03:45,600 --> 00:03:50,200
phenomenally successful. 
We rolled out was an easy way 

58
00:03:50,200 --> 00:03:55,500
for our customers to make an 
appointment at a branch to 

59
00:03:55,500 --> 00:03:58,800
check-in. 
Give us information before they 

60
00:03:58,800 --> 00:04:02,700
come to the branch. 
The type of services they're 

61
00:04:02,700 --> 00:04:05,600
looking for. 
And then when they get to the 

62
00:04:05,600 --> 00:04:08,700
branch, they're having that 
tailored discussion. 

63
00:04:08,900 --> 00:04:12,500
That talks to I want a mortgage.
I want a home equity line. 

64
00:04:12,600 --> 00:04:17,100
I'm looking for a car loan. 
You know, my my daughter or son,

65
00:04:17,100 --> 00:04:19,800
or about to graduate high school
and I'm looking for a student 

66
00:04:19,800 --> 00:04:22,900
loan. 
So being able to tailor those 

67
00:04:22,900 --> 00:04:26,700
conversations is really, really 
important and the feedback we've

68
00:04:26,700 --> 00:04:29,400
had from our customers. 
There has been really 

69
00:04:29,400 --> 00:04:30,100
phenomenal. 
Animal. 

70
00:04:30,500 --> 00:04:33,400
You know, we've been in that 
this journey to really transform

71
00:04:33,400 --> 00:04:36,400
all of our branches. 
So, you know, when you walk into

72
00:04:36,400 --> 00:04:39,800
a citizen of Branch today is 
very different, from what it was

73
00:04:39,800 --> 00:04:46,200
before, there's less teller, you
know, lines, there's more Open 

74
00:04:46,200 --> 00:04:49,600
Spaces, you can walk in you, 
don't necessarily have to go to 

75
00:04:49,600 --> 00:04:53,500
the line and putting your card 
in an ingenico device. 

76
00:04:53,700 --> 00:04:56,300
You does this in many of our 
branches. 

77
00:04:56,300 --> 00:04:59,800
Now, you know, our customer 
service reps have a tablet. 

78
00:05:00,100 --> 00:05:04,100
And you can do leverage 
e-signature to authenticate. 

79
00:05:04,100 --> 00:05:07,300
So we know it's you on that 
tablet without going to at a low

80
00:05:07,300 --> 00:05:09,500
line. 
So, the response from our 

81
00:05:09,500 --> 00:05:12,800
customers has been really, 
really positive. 

82
00:05:13,100 --> 00:05:17,100
So that we're also seeing the 
same when I if I pivot a second 

83
00:05:17,100 --> 00:05:20,600
and look at our commercial 
customers, our commercial 

84
00:05:20,600 --> 00:05:26,100
customers to want to move more 
to self-service capabilities. 

85
00:05:26,500 --> 00:05:30,100
Once again, we're trying to make
it very easy for them to log on 

86
00:05:30,300 --> 00:05:34,900
the systems provided a single 
sign-on portal that allows them 

87
00:05:34,900 --> 00:05:37,800
to log on once. 
And then to access many of the 

88
00:05:37,800 --> 00:05:41,900
different commercial 
applications that they need. 

89
00:05:41,900 --> 00:05:45,400
We've introduced a digital but 
Butler Service, where they can 

90
00:05:45,400 --> 00:05:48,200
get curated answers to certain 
problems. 

91
00:05:48,300 --> 00:05:51,500
Very, very easily with we've 
updated. 

92
00:05:51,500 --> 00:05:54,900
Our voice response systems to 
make it very easy for our 

93
00:05:54,900 --> 00:05:56,600
customers to do business with 
us. 

94
00:05:56,900 --> 00:05:59,600
And as I said earlier, we're 
constantly, we measure, what's 

95
00:05:59,600 --> 00:06:02,100
going? 
All MPS, which is the score that

96
00:06:02,100 --> 00:06:05,400
our customers. 
Give us both our commercial and 

97
00:06:05,400 --> 00:06:09,400
our consumer customers to make 
sure that we are, you know, on 

98
00:06:09,400 --> 00:06:11,800
the right track. 
It's funny as you were talking. 

99
00:06:11,800 --> 00:06:16,100
I was thinking, you know, we are
a commercial customer Citizens 

100
00:06:16,100 --> 00:06:22,800
Bank and I haven't been into a 
branch in a long time, because 

101
00:06:22,800 --> 00:06:26,200
if I can do everything on my 
phone, of course, I prefer doing

102
00:06:26,200 --> 00:06:27,700
that everything. 
It's much easier. 

103
00:06:28,800 --> 00:06:33,500
So, or on the website. 
So what are the Technologies? 

104
00:06:33,500 --> 00:06:35,900
You've kind of alluded to this. 
But what are the technologies 

105
00:06:35,900 --> 00:06:40,400
that go into creating that kind 
of seamless customer experience 

106
00:06:40,400 --> 00:06:44,700
that you're hoping for a couple 
of examples of cloud native 

107
00:06:44,700 --> 00:06:48,600
applications that we built from 
scratch that are actually where 

108
00:06:48,600 --> 00:06:51,500
the, the customer feedback has 
been just, just phenomenal. 

109
00:06:51,500 --> 00:06:56,600
So when he's for our Student 
Business, we developed a loan 

110
00:06:56,700 --> 00:07:00,600
origination and servicing. 
In platform from the ground up, 

111
00:07:00,900 --> 00:07:05,100
just over a year, 8.5 million 
lines of code. 

112
00:07:06,400 --> 00:07:11,300
API, microservices architecture,
but fundamentally. 

113
00:07:11,600 --> 00:07:15,000
We really look to improve the 
customer experience. 

114
00:07:15,300 --> 00:07:19,200
How come we? 
We want to make sure that our 

115
00:07:19,200 --> 00:07:22,800
customers don't have to 
Providers paper documents. 

116
00:07:23,300 --> 00:07:25,500
So how can we get that 
information? 

117
00:07:25,500 --> 00:07:29,200
How can we leverage the data 
ecosystem, with the appropriate?

118
00:07:29,200 --> 00:07:34,900
Of course, customer consent. 
Go get that information so we 

119
00:07:34,900 --> 00:07:40,200
make it very easy. 
For our customers to enroll to 

120
00:07:40,200 --> 00:07:43,800
enroll either either do a 
student refi or get a new 

121
00:07:43,800 --> 00:07:48,900
student loan, you know? 
And and the dispersment is very 

122
00:07:48,900 --> 00:07:51,700
easy for those loans because 
we've really looked at the end 

123
00:07:51,700 --> 00:07:56,500
to end process and made sure 
from a workflow perspective from

124
00:07:56,500 --> 00:07:59,900
origination all the way through 
to disbursement of the loan. 

125
00:08:00,000 --> 00:08:04,200
It's very easy for our customers
to do business with us. 

126
00:08:04,400 --> 00:08:06,000
Another example of that is one 
click. 

127
00:08:06,100 --> 00:08:11,000
Like he lock or fast, he long, 
you know, a real the average 

128
00:08:11,000 --> 00:08:13,400
processing time to process a 
home. 

129
00:08:13,400 --> 00:08:16,400
Equity loan, is something like 
45 days. 

130
00:08:17,200 --> 00:08:20,300
We've been able to cut that down
to seven days and in fact, the 

131
00:08:20,300 --> 00:08:24,400
application process now for 
existing customers and literally

132
00:08:24,400 --> 00:08:28,600
be done in three minutes and the
way that we've been able to do 

133
00:08:28,600 --> 00:08:31,200
that is we Leverage The Power of
data. 

134
00:08:31,200 --> 00:08:35,100
The power of data that we 
already have these customers to 

135
00:08:35,100 --> 00:08:39,000
be able to Pre-fill a lot of 
this information, we're able to 

136
00:08:39,000 --> 00:08:43,299
do the underwriting 
automatically leveraging data. 

137
00:08:43,500 --> 00:08:47,900
We already have we don't have to
go out and ask for this data 

138
00:08:47,900 --> 00:08:51,300
which clearly can take weeks to 
do. 

139
00:08:51,300 --> 00:08:53,800
So, you know, some of these 
systems have been really 

140
00:08:53,800 --> 00:08:58,200
phenomenal, they've grown their 
doubling the amount of Revenue 

141
00:08:58,200 --> 00:09:01,300
that we've been able to get from
some of these products 

142
00:09:01,300 --> 00:09:04,500
year-over-year. 
And I think it's primarily 

143
00:09:04,500 --> 00:09:09,700
because we really Gaston on that
customer experience and making 

144
00:09:09,700 --> 00:09:13,400
it frictionless for our 
customers to to do business with

145
00:09:13,400 --> 00:09:17,500
us. 
So you see a connection between 

146
00:09:17,500 --> 00:09:24,000
the streamlining of those 
processes and the revenue and 

147
00:09:24,000 --> 00:09:26,300
the customer satisfaction that 
you're receiving from your 

148
00:09:26,300 --> 00:09:29,200
customers. 
We've seen in the first I think 

149
00:09:29,200 --> 00:09:33,000
hundred sixty days of launching 
lending as a service product. 

150
00:09:33,000 --> 00:09:37,200
We were already over 1 billion 
in An origination. 

151
00:09:37,200 --> 00:09:40,400
So, you know, we saw you know, 
forty percent Improvement in 

152
00:09:40,400 --> 00:09:45,100
loan turn around and it's really
as well as been a satisfying to 

153
00:09:45,100 --> 00:09:49,300
the customer is also an enormous
satisfier for our colleague 

154
00:09:49,300 --> 00:09:51,500
base. 
The used to have to do a lot of 

155
00:09:51,500 --> 00:09:55,000
these processes manually before 
literally, they would get a 

156
00:09:55,000 --> 00:09:58,700
calculator out and calculate 
some of these things it would 

157
00:09:58,700 --> 00:10:03,400
made it so much easier for our 
colleagues who are sometimes on 

158
00:10:03,400 --> 00:10:08,800
the phone providing advice. 
Ice by providing this end-to-end

159
00:10:08,800 --> 00:10:11,900
workflow, they can see 
everything from the beginning to

160
00:10:11,900 --> 00:10:15,800
the end and certainly the 
satisfaction of my colleague 

161
00:10:15,800 --> 00:10:19,600
base, as well as being has been 
really really positive. 

162
00:10:19,800 --> 00:10:24,200
There's a very strong link than 
between the the ease of use for 

163
00:10:24,200 --> 00:10:30,800
your internal Bank employees as 
well as ease of use from the 

164
00:10:30,800 --> 00:10:34,300
customer perspective and you 
need both sides in order to 

165
00:10:34,300 --> 00:10:37,800
create that ultimate customer. 
That's, that's correct. 

166
00:10:37,900 --> 00:10:43,000
Absolutely there's a very strong
digital transformation theme 

167
00:10:43,300 --> 00:10:48,300
that's running through this. 
Can you can you link for us or 

168
00:10:48,300 --> 00:10:51,100
describe that that connection 
between the digital 

169
00:10:51,100 --> 00:10:53,000
transformation of these 
processes? 

170
00:10:53,000 --> 00:10:56,000
All the things you're talking 
about and customer experience. 

171
00:10:56,000 --> 00:11:00,100
How does how does customer 
experience fit into the digital 

172
00:11:00,100 --> 00:11:02,500
transformation? 
Landscape, digital 

173
00:11:02,500 --> 00:11:04,400
transformation, and customer 
experience. 

174
00:11:04,400 --> 00:11:09,300
Go hand in hand, you know? 
Oh, and you know, so I think and

175
00:11:09,300 --> 00:11:12,100
the key to a lot of this is the 
data. 

176
00:11:12,900 --> 00:11:17,500
If you can provide, if you can 
make it a custom, you know, make

177
00:11:17,500 --> 00:11:20,300
it frictionless for your 
customers to do business by 

178
00:11:20,300 --> 00:11:25,900
prefilling information, by 
making it very easy than to 

179
00:11:26,500 --> 00:11:30,200
complete applications. 
They're able to start an 

180
00:11:30,200 --> 00:11:32,300
application in a branch. 
If they don't have time to 

181
00:11:32,300 --> 00:11:35,900
finish it, we're able to 
continue that Journey at home. 

182
00:11:36,600 --> 00:11:38,700
Who is doing those type of 
things leveraging, the power 

183
00:11:38,700 --> 00:11:42,200
that we have in terms of the 
data that we have to make you 

184
00:11:42,200 --> 00:11:47,400
easy for our for our customers. 
Once again, if I look at the 

185
00:11:47,400 --> 00:11:52,500
client the client facing side as
well on the, on the commercial 

186
00:11:52,500 --> 00:11:56,100
business, you know, we've 
launched a digitization 

187
00:11:56,100 --> 00:12:00,500
initiative to make it much 
easier to enhance client 

188
00:12:00,500 --> 00:12:03,500
onboarding and are lending 
processes. 

189
00:12:03,600 --> 00:12:04,700
You know? 
We were as I said earlier, we 

190
00:12:04,708 --> 00:12:08,900
rolled out A single portal for 
them to log onto, which makes it

191
00:12:08,900 --> 00:12:12,600
very easy for them and improves 
that, that customer experience. 

192
00:12:13,000 --> 00:12:15,500
We've improved our chat 
capability. 

193
00:12:15,500 --> 00:12:20,500
So if they do need to speak to a
client service representative, 

194
00:12:20,500 --> 00:12:24,300
they can, and it really fits 
with really citizens is all 

195
00:12:24,300 --> 00:12:28,400
about white glove treatments, 
who are our clients and that 

196
00:12:28,400 --> 00:12:32,200
fits very well with that piece 
because we can do both. 

197
00:12:32,700 --> 00:12:36,200
You know, we really want to make
sure that we're providing In the

198
00:12:36,208 --> 00:12:39,900
South serve capabilities to our 
clients, they're able to do 

199
00:12:39,900 --> 00:12:43,300
things themselves but the same 
time if they need to reach out 

200
00:12:43,300 --> 00:12:47,100
and talk to somebody, they can 
we try and make that process 

201
00:12:47,200 --> 00:12:51,000
very easy for them. 
Please hit the Subscribe button 

202
00:12:51,000 --> 00:12:54,500
at the bottom of our websites, 
EXO talk.com. 

203
00:12:54,500 --> 00:12:58,100
So you can subscribe to our 
newsletter and be sure to 

204
00:12:58,100 --> 00:13:00,900
subscribe to our YouTube 
channel. 

205
00:13:01,300 --> 00:13:05,900
Michael from a technology 
standpoint. 

206
00:13:06,000 --> 00:13:12,700
So what kind of transformation 
or change or Evolution? 

207
00:13:12,700 --> 00:13:18,400
Did you have to make internally 
within it in order to enable all

208
00:13:18,400 --> 00:13:21,800
of this? 
We sets out by developing a 

209
00:13:21,800 --> 00:13:23,800
vision and a strategy, we called
it. 

210
00:13:23,800 --> 00:13:28,900
The Next Generation technology 
strategy and he had five pillars

211
00:13:29,500 --> 00:13:33,300
one, the first was moving to an 
agile environment, how can we 

212
00:13:33,300 --> 00:13:37,300
deliver much faster? 
New It's-- for our customers. 

213
00:13:38,500 --> 00:13:44,400
Second was, how could we build a
library of reusable apis, 

214
00:13:44,400 --> 00:13:49,100
reusable microservices. 
So I can develop much more 

215
00:13:49,100 --> 00:13:52,800
quickly and share if abilities 
leverage open source. 

216
00:13:52,800 --> 00:13:56,400
Once again, with the view of 
being able to build so much more

217
00:13:56,400 --> 00:14:00,700
quickly, the third pillar was 
around our talent and really 

218
00:14:00,800 --> 00:14:05,500
making sure we have the right 
engineering Talent at the bank. 

219
00:14:06,600 --> 00:14:08,500
The fourth one was about. 
About our journey to the cloud. 

220
00:14:08,500 --> 00:14:11,000
So, I will talk a little bit 
about that later. 

221
00:14:11,000 --> 00:14:14,100
But you know, the, you know, the
journey to the cloud is 

222
00:14:14,100 --> 00:14:17,400
fundamental from two 
perspectives, one speed to 

223
00:14:17,400 --> 00:14:21,300
Market and secondly, to reduce 
our operating costs. 

224
00:14:21,300 --> 00:14:25,500
And then finally, the fifth 
pillar on this strategy was 

225
00:14:25,500 --> 00:14:30,900
stability cybersecurity. 
Making sure the bank is 

226
00:14:30,900 --> 00:14:32,800
protected. 
You know we are a regulated 

227
00:14:32,800 --> 00:14:36,900
entities is very important that 
as we're making all of these 

228
00:14:37,600 --> 00:14:42,600
Changes that were, you know, 
we're protecting our customers 

229
00:14:42,600 --> 00:14:46,200
data and that we're protecting 
the stability of the 

230
00:14:46,200 --> 00:14:48,700
environments and we're very 
focused on that. 

231
00:14:49,100 --> 00:14:52,300
Interesting question, that's 
come in from Twitter from our 

232
00:14:52,300 --> 00:14:56,200
Salon Khan who's a regular 
listener and our Salon thanks 

233
00:14:56,200 --> 00:15:00,700
for listening and for your great
questions and he says given the 

234
00:15:00,800 --> 00:15:06,000
importance that is attached to 
improved customer experiences. 

235
00:15:06,500 --> 00:15:11,300
How do you decide Aside, the 
financial value of that, and who

236
00:15:11,300 --> 00:15:14,600
gets involved, is it the CFO? 
Is it you as CIO? 

237
00:15:14,900 --> 00:15:18,000
How do you, how do you figure 
out the value of customer 

238
00:15:18,000 --> 00:15:21,700
experience to Warrant that 
investment, that you've been 

239
00:15:21,700 --> 00:15:26,400
making as we moved to an agile 
Journey would being very focused

240
00:15:26,400 --> 00:15:32,400
on, okay, ours, and making sure 
that we understand the value of 

241
00:15:32,700 --> 00:15:37,300
the Investments and we're very 
focused on iterative 

242
00:15:37,300 --> 00:15:40,100
development. 
Element, developing MVPs testing

243
00:15:40,100 --> 00:15:43,100
and learning. 
But, you know, we have these 

244
00:15:43,100 --> 00:15:48,300
quarterly investment meetings 
where we look at all of the 

245
00:15:48,300 --> 00:15:52,300
Investments and we measure 
whether we're hitting the 

246
00:15:52,500 --> 00:15:55,500
either, the revenue targets, the
operating expense targets, the 

247
00:15:55,500 --> 00:15:58,900
customer experience targets. 
So we measure that we report 

248
00:15:58,900 --> 00:16:03,300
back on that on a quarterly 
basis and sometimes we make 

249
00:16:03,300 --> 00:16:07,300
adjustments to those some of 
those Investments. 

250
00:16:07,900 --> 00:16:12,100
So, yeah, we're very focused on 
looking at the value that, these

251
00:16:12,100 --> 00:16:16,300
Investments are giving us. 
And frankly, moving to Agile, as

252
00:16:16,300 --> 00:16:20,400
allowed us to react much more 
quickly, to that, as I said 

253
00:16:20,400 --> 00:16:24,400
earlier, before we were doing 
releases the way, 18 months, two

254
00:16:24,400 --> 00:16:28,300
years, sometimes three years, 
what, you know, you spend an 

255
00:16:28,300 --> 00:16:32,200
awful lot of money on you know, 
two or three year program to 

256
00:16:32,200 --> 00:16:35,500
realize that hold on a minute. 
This isn't just wasn't hitting 

257
00:16:35,500 --> 00:16:38,900
the mark. 
So now, Much more focused on 

258
00:16:38,900 --> 00:16:43,000
smaller, releases incremental, 
releases and measuring. 

259
00:16:43,000 --> 00:16:47,800
The effectiveness of those 
releases on a regular basis that

260
00:16:47,800 --> 00:16:53,400
must have required a real shift 
in the culture, the mindset, The

261
00:16:53,400 --> 00:17:00,700
Thinking Inside it5 going from 
these very large monolithic 

262
00:17:00,700 --> 00:17:05,500
waterfall, projects to smaller 
incremental, Agile development, 

263
00:17:05,599 --> 00:17:09,200
not just a fundamental change 
for I It but a fundamental 

264
00:17:09,200 --> 00:17:14,500
change for the business because 
that, you know, the business now

265
00:17:14,500 --> 00:17:19,200
has to develop the user stories 
in advanced of got to get that 

266
00:17:19,200 --> 00:17:22,500
backlog of user stories. 
So the engineers and be 

267
00:17:22,500 --> 00:17:27,000
developing at speed, you've got 
to think through, you know, 

268
00:17:27,000 --> 00:17:31,100
what, the business cases of 
these in advance once again 

269
00:17:31,100 --> 00:17:34,700
smaller increments. 
And so, you know, that product 

270
00:17:34,700 --> 00:17:37,400
owner role or experience owner 
role. 

271
00:17:37,600 --> 00:17:40,900
Is vital. 
And we recognize that as 

272
00:17:40,900 --> 00:17:43,200
Citizens as well. 
And we've been on a journey to 

273
00:17:43,200 --> 00:17:47,900
not only say upscale and 
re-skill our engineering talent,

274
00:17:47,900 --> 00:17:52,000
but also our business talents to
make sure they have that product

275
00:17:52,000 --> 00:17:55,600
management skill set. 
You raise a really important 

276
00:17:55,600 --> 00:18:00,100
point which is very often when 
it comes to, these types of 

277
00:18:00,100 --> 00:18:04,300
cultural changes, we talked 
about what's necessary for it, 

278
00:18:04,700 --> 00:18:09,000
but it also must be matched on 
On the business side. 

279
00:18:09,100 --> 00:18:12,500
Because if I T does not have the
right environment in which to 

280
00:18:12,500 --> 00:18:17,000
work, then the work is not going
to get done. 

281
00:18:17,300 --> 00:18:21,200
One of the important shifts is 
part of our strategy was really 

282
00:18:21,200 --> 00:18:26,000
getting the confidence of the 
business that we were able to 

283
00:18:26,000 --> 00:18:29,100
deliver were able to deliver 
quickly at speed and we have the

284
00:18:29,100 --> 00:18:33,400
right frankly engineering 
caliber that was able to deliver

285
00:18:33,400 --> 00:18:37,200
results and we had some some 
really good successes. 

286
00:18:37,600 --> 00:18:40,300
Early on with that. 
I mean things like you know, the

287
00:18:40,300 --> 00:18:45,300
small business administration's 
PPP program after covid. 

288
00:18:45,300 --> 00:18:49,300
Really helps us actually because
it forced us to work with the 

289
00:18:49,300 --> 00:18:52,800
business very quickly, Implement
new capabilities. 

290
00:18:52,800 --> 00:18:56,400
So we could help our small 
businesses and our commercial 

291
00:18:56,400 --> 00:19:00,400
customers get loans. 
We were able to develop some of 

292
00:19:00,408 --> 00:19:04,800
those applications in house with
in-house Engineers, very, very 

293
00:19:04,800 --> 00:19:07,500
quickly. 
We also, as I said early we We 

294
00:19:07,508 --> 00:19:10,200
stabilize the environment very 
quickly as well, which gained 

295
00:19:10,200 --> 00:19:13,400
the confidence of the business. 
We've been able to reduce the 

296
00:19:13,408 --> 00:19:16,900
number of significant outages. 
We've been able to reduce the 

297
00:19:16,908 --> 00:19:21,100
number of risks in the 
environment considerably the 

298
00:19:21,108 --> 00:19:23,900
number of security 
vulnerabilities that were 

299
00:19:23,900 --> 00:19:26,000
outstanding. 
So that's given the business a 

300
00:19:26,000 --> 00:19:30,200
lot more confidence in the 
partnership that we have with 

301
00:19:30,200 --> 00:19:32,600
Technologies. 
And, you know, I would say, you 

302
00:19:32,600 --> 00:19:35,800
know, we started as a bit of an 
order taker, I would say and I'm

303
00:19:35,800 --> 00:19:37,400
didn't have that, that 
relationship. 

304
00:19:37,500 --> 00:19:40,400
Nation ship. 
Now, if you had to ask the 

305
00:19:40,400 --> 00:19:44,500
business, what the relationship 
is and we have, they would say, 

306
00:19:44,500 --> 00:19:48,400
it's completely turned around 
360 degrees and we have this 

307
00:19:48,700 --> 00:19:52,400
phenomenal relationship and 
certainly we can't do it without

308
00:19:52,400 --> 00:19:54,600
them. 
That partnership is really, 

309
00:19:54,600 --> 00:19:58,600
really important. 
Can you assign any broad time 

310
00:19:58,600 --> 00:20:04,600
frame for the change in that 
relationship from as you said, 

311
00:20:04,600 --> 00:20:08,600
being an order taker? 
Historically to A much closer 

312
00:20:08,600 --> 00:20:10,300
partnership that you have. 
Right now. 

313
00:20:10,500 --> 00:20:15,400
We turn the corner year to, I 
would say, I think in terms of 

314
00:20:15,700 --> 00:20:20,400
at least by having that that 
seats at the at the table, but I

315
00:20:20,400 --> 00:20:22,400
would eat some, it's an ongoing 
Journey. 

316
00:20:22,400 --> 00:20:25,000
You know, we're partnering with 
the business where we've been at

317
00:20:25,000 --> 00:20:29,800
this agile Journey now about 
four or five years and, you 

318
00:20:29,800 --> 00:20:32,700
know, is, is we're still 
learning, you know, I think it's

319
00:20:32,700 --> 00:20:36,100
and the business is learning. 
We're learning, you know, we 

320
00:20:36,100 --> 00:20:40,600
fundamentally changed Operating 
model, you know, we have we 

321
00:20:40,600 --> 00:20:43,800
moved to what we call the modern
operating model which was done 

322
00:20:43,800 --> 00:20:46,500
in parallel to the Next 
Generation technology, which 

323
00:20:46,500 --> 00:20:50,600
fundamentally the business 
reorganized, how they worked 

324
00:20:50,600 --> 00:20:54,400
with Technologies to deliver new
capabilities and we'll still 

325
00:20:54,400 --> 00:20:57,300
maturing that, you know, we're 
not the certainly not there yet,

326
00:20:58,100 --> 00:21:02,900
but we've made significant 
strides in the right direction. 

327
00:21:03,400 --> 00:21:08,200
Again, it's a really interesting
point that it's not Just a 

328
00:21:08,200 --> 00:21:14,000
technology transformation but 
you have changed your operating 

329
00:21:14,000 --> 00:21:15,700
model. 
I was scared. 

330
00:21:15,700 --> 00:21:17,400
I was going to say, can you 
assign? 

331
00:21:17,400 --> 00:21:19,800
Can you say that one is more 
important than the other and I 

332
00:21:19,808 --> 00:21:23,200
realized maybe that's kind of a 
silly question to even ask that 

333
00:21:23,400 --> 00:21:27,900
you need to do them in parallel 
and he can't be too far ahead 

334
00:21:28,400 --> 00:21:32,100
with one or the other either you
have to do it in in constant. 

335
00:21:32,400 --> 00:21:36,600
And if I, you know, if I have an
engineering team who is able to 

336
00:21:36,600 --> 00:21:41,300
deliver At speed and delivered 
capabilities to Market at speed.

337
00:21:41,300 --> 00:21:46,700
And yet the business is not able
to keep up with the backlog of 

338
00:21:46,700 --> 00:21:49,300
user stories. 
Then at the end, we're not going

339
00:21:49,300 --> 00:21:53,200
to deliver that real true 
experience to our customers that

340
00:21:53,400 --> 00:21:55,500
minimum viable product because 
it's not going to have 

341
00:21:55,500 --> 00:21:57,500
everything that the business 
need. 

342
00:21:57,600 --> 00:22:02,400
So it's important you really 
keep them in tandem going at the

343
00:22:02,800 --> 00:22:06,300
at the same pace and you know 
yeah I don't think one is more 

344
00:22:06,300 --> 00:22:08,300
important. 
The other Think it's vital. 

345
00:22:08,700 --> 00:22:12,100
You know, you keep both moving 
along and we have another 

346
00:22:12,100 --> 00:22:15,600
question again from our Salon 
Khan who says digital 

347
00:22:15,600 --> 00:22:21,900
transformation is about business
transformation and the and he 

348
00:22:21,900 --> 00:22:28,400
asks about the role of the CIO 
since the CIO has this very 

349
00:22:28,400 --> 00:22:32,900
unusual position of seeing 
across every part of the 

350
00:22:32,900 --> 00:22:35,700
organization, which is, which is
very unusual. 

351
00:22:35,700 --> 00:22:39,500
You're not you're not siloed as 
a A CIO one of the things will 

352
00:22:39,500 --> 00:22:43,200
be moving towards is what we 
call a platform approach and 

353
00:22:43,200 --> 00:22:48,400
this is exactly to tackle this 
problem which is no, I don't 

354
00:22:48,400 --> 00:22:54,000
want to develop bespoke. 
Applications for every single 

355
00:22:54,000 --> 00:22:58,200
business process that I have. 
You know, why do I need one 

356
00:22:58,200 --> 00:23:03,400
application for student loan? 
Originations one application for

357
00:23:03,400 --> 00:23:06,300
credit loan applications, one 
application for mortgage 

358
00:23:06,300 --> 00:23:10,400
applications one application or 
platform for home equity 

359
00:23:11,000 --> 00:23:15,600
applications loan. 
Originations if I can build a 

360
00:23:15,600 --> 00:23:21,100
set of common components that 
can be reused across all of Them

361
00:23:21,300 --> 00:23:26,200
going to be much faster time to 
Market and frankly, much cheaper

362
00:23:26,200 --> 00:23:29,900
to build out. 
So the lending as a service 

363
00:23:29,900 --> 00:23:33,400
example that I gave earlier, you
know, the 8.5 million lines of 

364
00:23:33,400 --> 00:23:36,100
code that we developed Cloud 
native application. 

365
00:23:36,300 --> 00:23:38,300
We've built it so it can be 
reused. 

366
00:23:38,300 --> 00:23:41,600
Not only for our student lending
business, for our personal 

367
00:23:41,600 --> 00:23:45,100
loans, for our credit card 
loans, and different different 

368
00:23:45,100 --> 00:23:48,900
platforms. 
So as the CIO, you're absolutely

369
00:23:48,900 --> 00:23:51,700
right? 
I can step back And take that 

370
00:23:51,700 --> 00:23:56,100
platform approach and say, hold 
on, this is how we should 

371
00:23:56,100 --> 00:24:01,100
architect this system. 
And explain the benefits of that

372
00:24:01,500 --> 00:24:06,400
for the business and sometimes 
you have to make, sometimes they

373
00:24:06,400 --> 00:24:10,900
will agree and you'll you can 
wait and, you know, and 

374
00:24:10,900 --> 00:24:14,400
sometimes you might have to go 
ahead and because the business 

375
00:24:14,400 --> 00:24:18,000
is it's such a priority to the 
business, you have to build a 

376
00:24:18,000 --> 00:24:21,800
bespoke application of go out 
and buy a I spoke package. 

377
00:24:22,400 --> 00:24:25,900
So sometimes that happens, but 
making that conscious decision 

378
00:24:26,600 --> 00:24:29,000
is really, really, really 
important. 

379
00:24:29,200 --> 00:24:32,300
The second piece of that is, you
know, which we've been on a 

380
00:24:32,300 --> 00:24:38,000
journey as well as to replace 
our all our core platform. 

381
00:24:38,000 --> 00:24:43,700
So you know, we have a legacy or
and would be modernizing that 

382
00:24:43,700 --> 00:24:47,200
platform we, you know, we've 
actually moving to a cloud 

383
00:24:47,200 --> 00:24:53,500
native, modern banking platform 
and Again, that's based on these

384
00:24:53,500 --> 00:24:58,000
reusable building blocks. 
And as a CIO sub to me to 

385
00:24:58,000 --> 00:25:02,300
articulate to our business, how 
that can be leveraged across the

386
00:25:02,300 --> 00:25:05,500
broader business? 
Not just for one particular 

387
00:25:05,500 --> 00:25:08,100
business line, or I can, how can
I use that? 

388
00:25:08,100 --> 00:25:11,300
Not just for our consumer 
business but also for our 

389
00:25:11,300 --> 00:25:14,700
Commercial Business for our 
small business business. 

390
00:25:15,000 --> 00:25:19,000
So it's very, you know, I do 
have that unique vantage point 

391
00:25:19,000 --> 00:25:23,100
and having taking this Platform 
approach, building reusable 

392
00:25:23,100 --> 00:25:26,300
building blocks that we can 
reuse across different business 

393
00:25:26,300 --> 00:25:30,900
lines helps with that. 
How do you go to the business 

394
00:25:31,200 --> 00:25:36,900
and say to the business folks? 
We need to architect well, 

395
00:25:36,900 --> 00:25:39,800
pretty much everything. 
How do you begin that 

396
00:25:39,800 --> 00:25:42,500
conversation? 
We did and we have. 

397
00:25:42,500 --> 00:25:45,900
And, you know, what we did was 
we set out creating a set of 

398
00:25:45,900 --> 00:25:51,300
blueprints and roadmaps and, you
know, we laid that plan out We, 

399
00:25:51,400 --> 00:25:54,300
you know we said look rom-com, 
be built in a day, right? 

400
00:25:54,300 --> 00:25:58,700
You not going to be able to 
transform all of these platforms

401
00:25:58,700 --> 00:26:02,600
overnight, but we've touched in 
the last four years, a great 

402
00:26:02,600 --> 00:26:06,500
many of them and we've made 
strides in improving them, but I

403
00:26:06,500 --> 00:26:10,800
think the fundamentally, the 
most important thing, first was 

404
00:26:10,800 --> 00:26:15,000
setting out the architectural 
Blueprints and knowledge in 

405
00:26:15,400 --> 00:26:18,900
where you have platforms that 
are out of date that need 

406
00:26:18,900 --> 00:26:22,300
updating. 
Resizing which of the ones that 

407
00:26:22,300 --> 00:26:27,800
you need to upgrade first and 
and aligning that, you know, 

408
00:26:27,800 --> 00:26:29,600
with the business, it may be 
okay. 

409
00:26:29,600 --> 00:26:33,800
That you have a platform that's 
old if it's not a growing part 

410
00:26:33,800 --> 00:26:36,900
of the business. 
That is just working works every

411
00:26:36,900 --> 00:26:38,600
day. 
Why touch it, right? 

412
00:26:38,600 --> 00:26:41,800
So you just park that and you 
say, okay, we will put that in a

413
00:26:41,808 --> 00:26:45,700
maintain category, we will 
maintain it, but these other 

414
00:26:45,700 --> 00:26:48,200
systems that are a growth, 
they're going to help us grow 

415
00:26:48,200 --> 00:26:50,500
the bank. 
We will invest in and that's 

416
00:26:50,700 --> 00:26:54,700
Those blueprints do and These 
Blueprints fundamentally have to

417
00:26:54,700 --> 00:26:58,100
be done in partnership with the 
business, where you lay out that

418
00:26:58,100 --> 00:27:03,200
roadmap to say, over time over 
the next three to five years is 

419
00:27:03,200 --> 00:27:07,100
what we're focused on and get 
that alignment with the business

420
00:27:07,100 --> 00:27:09,900
is really fundamental at that 
time. 

421
00:27:10,200 --> 00:27:15,100
How did you approach the 
business in terms of arguing, on

422
00:27:15,100 --> 00:27:20,400
the one hand about the need from
a technology standpoint versus 

423
00:27:20,400 --> 00:27:22,900
on? 
On the other hand, arguing the 

424
00:27:22,900 --> 00:27:28,600
need from a business standpoint.
I think you've got to show both,

425
00:27:28,600 --> 00:27:30,400
right? 
You've got to show one of the 

426
00:27:30,400 --> 00:27:34,300
one of the short-term 
medium-term long-term advantages

427
00:27:34,300 --> 00:27:38,200
to the business sometimes. 
Sometimes they may be immediate 

428
00:27:38,200 --> 00:27:42,700
benefits to implements in these 
small scale changes that can 

429
00:27:42,900 --> 00:27:45,500
move the business forward. 
But sometimes you have to show 

430
00:27:45,500 --> 00:27:50,200
that longer that longer vision 
and show that over time, here's 

431
00:27:50,600 --> 00:27:52,200
How this is going to benefit 
you? 

432
00:27:52,200 --> 00:27:56,500
If you look at, for example, 
core magnetization, journey is a

433
00:27:56,500 --> 00:28:00,100
five-year Journey. 
We are, you know, we started it.

434
00:28:00,100 --> 00:28:02,800
But when we're not going to be, 
we're not going to move all of 

435
00:28:02,800 --> 00:28:07,600
our existing products to this 
new Cloud native platform until 

436
00:28:07,600 --> 00:28:12,100
about 20, 27. 
But we laid out that road map 

437
00:28:12,200 --> 00:28:14,500
for the business and show them 
what we've launched. 

438
00:28:14,500 --> 00:28:19,100
Now we've got all of our digital
bank is now on this new 

439
00:28:19,100 --> 00:28:23,100
platform, eighty thousand 
customers in production, our 

440
00:28:23,100 --> 00:28:25,100
savings account is on that 
platform. 

441
00:28:25,100 --> 00:28:28,400
So I was able to launch that. 
Now, I'm building out checking 

442
00:28:28,400 --> 00:28:31,300
capabilities by the end of the 
year and then I can move our 

443
00:28:31,300 --> 00:28:35,000
checking customers onto that 
platform different products, one

444
00:28:35,000 --> 00:28:37,100
by one, but, you know, next 
year. 

445
00:28:37,100 --> 00:28:41,100
So, yeah, I think it's showing 
that That journey and, but 

446
00:28:41,100 --> 00:28:44,600
you've got to create business 
value along the way. 

447
00:28:44,700 --> 00:28:47,100
It wouldn't have worked if I'd 
have gone to the business said, 

448
00:28:47,300 --> 00:28:50,500
well in 2027, you're going to 
get a brand-new shiny system 

449
00:28:50,500 --> 00:28:55,700
and, you know, we will be able 
to, you know, put things on it, 

450
00:28:55,700 --> 00:28:57,800
then you've got to do it 
incrementally. 

451
00:28:57,800 --> 00:29:00,800
You've got to show the value 
incrementally. 

452
00:29:01,400 --> 00:29:02,600
And that's, that's what we're 
doing. 

453
00:29:02,600 --> 00:29:04,400
We're I'd like to say were 
biting. 

454
00:29:04,400 --> 00:29:08,100
The elephant one bite at a time.
We're not trying to read to all 

455
00:29:08,100 --> 00:29:13,100
at once. 
Talking about the impact on 

456
00:29:13,500 --> 00:29:19,500
customer experience. 
And so can you just again link 

457
00:29:19,500 --> 00:29:22,800
for us all of this technology 
transformation, business 

458
00:29:22,800 --> 00:29:28,700
transformation to that upper 
level theme of how does this 

459
00:29:28,700 --> 00:29:32,500
help customer experience? 
If you look at our digital 

460
00:29:32,700 --> 00:29:37,200
application? 
You know, we did 970 releases 

461
00:29:37,200 --> 00:29:41,300
last year, 1972 only Lisa's. 
So we were able to take that 

462
00:29:41,300 --> 00:29:45,900
customer feedback and really 
incorporate changes rapidly into

463
00:29:45,900 --> 00:29:50,600
our mobile app. 
It has a 4.7 rating on the app 

464
00:29:50,600 --> 00:29:53,000
store which is, you know, is 
pretty high. 

465
00:29:53,600 --> 00:29:58,800
And so by building component, by
building this component-based 

466
00:29:58,800 --> 00:30:03,900
architecture in the cloud, we're
able to deliver new capabilities

467
00:30:04,200 --> 00:30:06,700
so much faster. 
We're able to react to Industry 

468
00:30:06,700 --> 00:30:11,900
Trends as the banking industry. 
As tackled fees, you know, we 

469
00:30:11,900 --> 00:30:18,300
were able to reduce our fees and
give customers who, you know, if

470
00:30:18,500 --> 00:30:23,200
24-hour grace period for, you 
know, an overdraft we're able to

471
00:30:23,200 --> 00:30:25,900
implement those capabilities. 
Very quickly were able to 

472
00:30:25,900 --> 00:30:30,300
implement capabilities, such as 
you can now, see your paycheck 

473
00:30:30,300 --> 00:30:33,000
on a Wednesday as opposed to a 
Friday. 

474
00:30:33,800 --> 00:30:37,300
And once again, we're able to 
deliver those capabilities very 

475
00:30:37,300 --> 00:30:41,300
quickly on the All platforms, we
wouldn't have been able to do 

476
00:30:41,300 --> 00:30:44,500
that, you know? 
Before I talked earlier about 

477
00:30:44,500 --> 00:30:49,000
the branches, you can walk into 
a branch, the, the branch 

478
00:30:49,000 --> 00:30:52,500
Personnel have a Tabla and they 
can service you on that tablet. 

479
00:30:52,500 --> 00:30:55,500
You don't have to go to the 
teller machine, we have 

480
00:30:55,500 --> 00:31:00,600
e-signature capability. 
So there's many ways that we're 

481
00:31:00,600 --> 00:31:04,900
making it easier for our 
customers do business with us. 

482
00:31:04,900 --> 00:31:09,900
When you look at our the new new
account origination, For new 

483
00:31:09,900 --> 00:31:15,000
customers, that sign up. 
We really made it far fewer 

484
00:31:15,000 --> 00:31:18,600
clicks to be able to do a lot of
that information far. 

485
00:31:18,900 --> 00:31:22,900
You were far fewer details, that
they have to enter, that's 

486
00:31:22,900 --> 00:31:25,500
making it easier for our 
customers to do business with 

487
00:31:25,500 --> 00:31:31,800
dramatically reduced. 
The time, it takes to apply for 

488
00:31:31,800 --> 00:31:35,500
a new checking account, you 
know, or a new deposit account, 

489
00:31:35,500 --> 00:31:38,700
or a new credit card, by 
leveraging, the power that we 

490
00:31:38,700 --> 00:31:41,800
have Have in the data here at 
solisten. 

491
00:31:41,800 --> 00:31:45,900
So I think there are some 
examples might Chris Peterson 

492
00:31:46,000 --> 00:31:50,300
asks when you were talking 
earlier about building blocks 

493
00:31:50,300 --> 00:31:54,800
Blueprints and roadmaps and this
is a, this is a pretty geeky 

494
00:31:54,800 --> 00:31:57,300
question. 
So see how see how are you? 

495
00:31:57,600 --> 00:32:03,300
How you'll respond to this? 
Did that come from adopting or 

496
00:32:03,300 --> 00:32:06,800
maturity? 
Maturing it Frameworks like 

497
00:32:06,800 --> 00:32:12,200
togaf or ITIL when you Think 
about the standard set of apis 

498
00:32:12,200 --> 00:32:15,700
that we're building, you know, 
we leverage vein, right? 

499
00:32:15,700 --> 00:32:19,200
Which is the, you know, 
Institute that publishes 

500
00:32:19,500 --> 00:32:24,000
standard apis for the banking, 
you know the banking industry 

501
00:32:24,400 --> 00:32:29,000
certainly from an architecture 
perspective, we follow togaf 

502
00:32:29,800 --> 00:32:33,100
toga principles so we definitely
look at them. 

503
00:32:33,100 --> 00:32:37,600
When you look from a cyber 
perspective we've built all the 

504
00:32:37,600 --> 00:32:43,000
controls that the knee Mist 
Foundation recommends, in terms 

505
00:32:43,000 --> 00:32:48,400
of cyber best practices and and 
building protection into the 

506
00:32:48,400 --> 00:32:51,200
code. 
So you know yes we definitely 

507
00:32:51,200 --> 00:32:57,200
look at all these types of 
outside standards and and where 

508
00:32:57,200 --> 00:33:01,100
possible we we you know we adopt
them absolutely. 

509
00:33:01,500 --> 00:33:06,600
This is from Elizabeth Shaw. 
Who says, how do you know which 

510
00:33:06,600 --> 00:33:11,000
aspects of the customer Variants
from the customers point of 

511
00:33:11,000 --> 00:33:15,400
view, needs Improvement. 
And then how do you map that 

512
00:33:15,400 --> 00:33:20,500
onto how it can help? 
I'll give you one example. 

513
00:33:20,900 --> 00:33:26,300
ATMs. No, couple of years ago we
had a lot of feedback on the 

514
00:33:26,300 --> 00:33:30,300
about a customer's 
dissatisfaction with ATMs. Now 

515
00:33:30,300 --> 00:33:34,600
we've jumped up this year to 
fourth in the ranking in JD 

516
00:33:34,600 --> 00:33:38,500
Powers on our ATMs and year. 
We've introduced things like 

517
00:33:39,100 --> 00:33:41,500
Multi determination. 
So you when you go to an ATM you

518
00:33:41,500 --> 00:33:43,400
can ask for. 
Do you want 20s, you want 

519
00:33:43,400 --> 00:33:45,600
hundreds, how do you want your 
money? 

520
00:33:45,800 --> 00:33:50,000
You can also enter personal 
preferences so that. 

521
00:33:50,400 --> 00:33:53,800
Next next time you go, we 
automatically know that you 

522
00:33:53,800 --> 00:33:57,700
always get $500 out and you 
always want to in hundreds. 

523
00:33:57,700 --> 00:34:00,700
So, you know, there's those 
personal preferences. 

524
00:34:00,700 --> 00:34:04,800
We've also made it easier if you
don't want to carry any card and

525
00:34:04,800 --> 00:34:08,500
you can tap and go with your 
mobile device and get cash out 

526
00:34:08,800 --> 00:34:11,600
from Ivar ATMs now with your 
mobile device. 

527
00:34:11,600 --> 00:34:17,600
So you know, direct feedback 
from our customers and we 

528
00:34:17,600 --> 00:34:22,800
prioritize that set of activity 
and really we've significantly 

529
00:34:22,800 --> 00:34:27,900
improved you know the quality I 
would say for our customers of 

530
00:34:27,900 --> 00:34:32,400
our of our network of 3,000 plus
ATMs, just one example. 

531
00:34:32,400 --> 00:34:37,600
But you know, we always listen 
to our customers and you know, 

532
00:34:37,600 --> 00:34:41,100
we prioritize a lot of those 
Those customer experiences that 

533
00:34:41,100 --> 00:34:44,000
are raised another question from
Twitter. 

534
00:34:44,000 --> 00:34:47,100
Our Salon cam comes Khan comes 
back again. 

535
00:34:47,100 --> 00:34:51,699
And he says, how is digital 
transformation different than 

536
00:34:51,699 --> 00:34:55,900
any other IT project. 
And can you explain this from 

537
00:34:56,000 --> 00:35:00,800
the perspective that for, and 
that an on it person would 

538
00:35:00,800 --> 00:35:03,500
understand. 
I'll give you one example that 

539
00:35:03,500 --> 00:35:06,100
we've been doing as part of our 
digital transformation, is what 

540
00:35:06,100 --> 00:35:08,400
we call war on paper. 
All right? 

541
00:35:08,400 --> 00:35:14,000
So You know, if you think about 
it in the, you know, the olden 

542
00:35:14,000 --> 00:35:18,000
days, you know, if you need to 
prove your income, you have two 

543
00:35:18,300 --> 00:35:21,900
axes or walk into a branch and 
give us your payroll stub. 

544
00:35:22,000 --> 00:35:26,200
Or if you're a company you have 
to give us your tax information.

545
00:35:26,500 --> 00:35:30,500
Now, a lot of that information 
now is available through apis. 

546
00:35:30,800 --> 00:35:35,300
That I can go get right with 
appropriate customer consent. 

547
00:35:35,600 --> 00:35:39,800
So You know, that's where the 
digital transformation really 

548
00:35:39,800 --> 00:35:42,700
comes. 
In of those business processes 

549
00:35:42,700 --> 00:35:47,300
is, you know, how can I digitize
that same in our Commercial 

550
00:35:47,300 --> 00:35:50,300
Business? 
We really digitized a lot of the

551
00:35:50,300 --> 00:35:55,400
documents that are clients after
providers in terms of wanting to

552
00:35:55,400 --> 00:35:59,900
request loans, Etc. 
So we've been very focused on 

553
00:36:00,100 --> 00:36:04,600
making that very easy for our 
clients to do everything to sign

554
00:36:04,600 --> 00:36:08,500
through DocuSign rather than 
Sign in, you know, manually and 

555
00:36:08,500 --> 00:36:13,400
having to supposed to or fax or 
send that type of material in. 

556
00:36:13,400 --> 00:36:15,600
So those are just a couple of 
examples. 

557
00:36:15,600 --> 00:36:19,700
But you know, that that war on 
paper in, not only is a big 

558
00:36:20,100 --> 00:36:24,100
customer experience, satisfying 
fundamentally as well. 

559
00:36:24,100 --> 00:36:28,100
Was uses our operating expenses.
You think we don't have to keep 

560
00:36:28,100 --> 00:36:31,400
all this paper. 
We don't have to post it and the

561
00:36:31,400 --> 00:36:35,300
postage fees that go with that. 
You're also able to reduce your 

562
00:36:35,300 --> 00:36:40,000
costs by I reducing the amount 
of paper that you have. 

563
00:36:40,000 --> 00:36:42,700
So just one example of where 
digital transformation 

564
00:36:43,100 --> 00:36:47,200
fundamentally replaces some you 
know, business processes. 

565
00:36:47,600 --> 00:36:50,500
What about Cloud? 
You've mentioned Cloud several 

566
00:36:50,500 --> 00:36:53,600
times. 
So we're does cloud fit into 

567
00:36:53,600 --> 00:36:54,900
this. 
And why is the cloud so 

568
00:36:54,900 --> 00:36:59,500
important to this cloud is 
fundamental to our overall 

569
00:36:59,900 --> 00:37:04,600
architecture, you know, we we 
started, we have a multi Cloud 

570
00:37:04,600 --> 00:37:06,000
strategy. 
So we're on both. 

571
00:37:06,000 --> 00:37:11,900
Aw, OS and Microsoft Azure. 
We started on AWS. 

572
00:37:11,900 --> 00:37:15,200
So a lot of the mobile 
applications that I talked about

573
00:37:15,400 --> 00:37:20,900
of all been built on on AWS add 
data platforms. 

574
00:37:20,900 --> 00:37:24,800
You know we had several 
Appliance Solutions, we were on 

575
00:37:24,800 --> 00:37:28,000
the teaser on terror. 
Dates are on IBM, biginsights on

576
00:37:28,000 --> 00:37:31,000
hortonworks. 
We've eliminated a lot of those 

577
00:37:31,000 --> 00:37:34,000
Appliance aleutians. 
Now everything is in a data Lake

578
00:37:34,000 --> 00:37:37,300
on AWS. 
We're able to build, you know, 

579
00:37:37,300 --> 00:37:40,600
customer 360, which is a view of
all of our customers 

580
00:37:40,600 --> 00:37:43,700
relationships with us. 
We're able to our product 

581
00:37:43,700 --> 00:37:45,700
master. 
So we really understand 

582
00:37:45,700 --> 00:37:50,100
fundamentally, what are our 
customers and what products they

583
00:37:50,100 --> 00:37:53,300
use. 
So, when we built all of that on

584
00:37:53,300 --> 00:37:57,300
the cloud, you know, we're 
moving to more real-time using 

585
00:37:57,300 --> 00:38:02,400
data data, streaming tools. 
Enable us to make decisions 

586
00:38:02,400 --> 00:38:04,200
real-time, that's what our 
customers want. 

587
00:38:04,200 --> 00:38:08,500
They want instant gratification,
If ocation, right, so all of 

588
00:38:08,500 --> 00:38:12,300
that is enabled on the on the 
cloud. 

589
00:38:12,600 --> 00:38:17,300
So and it's just fundamentally 
improve that time to Market. 

590
00:38:17,300 --> 00:38:21,500
So, you know, before you would 
have to order a server and then 

591
00:38:21,500 --> 00:38:24,400
you would have to order the 
operating system, then the 

592
00:38:24,400 --> 00:38:27,000
database, then you would have to
lay the application down on 

593
00:38:27,000 --> 00:38:29,900
that. 
You know, we've automated a lot 

594
00:38:29,900 --> 00:38:31,400
of that. 
We've automated a lot of the 

595
00:38:31,400 --> 00:38:36,000
security controls so you know, 
as I build out Code. 

596
00:38:36,600 --> 00:38:40,600
And I put it on this pipeline. 
No, now I can do releases in 

597
00:38:40,600 --> 00:38:44,100
under 15 minutes. 
It would used to take four hours

598
00:38:44,600 --> 00:38:48,500
because it's all fully automated
in the cloud and I've built in 

599
00:38:48,500 --> 00:38:51,700
the controls. 
I don't need someone in security

600
00:38:51,700 --> 00:38:55,400
to check the code, check out the
code, look at the code and say 

601
00:38:55,600 --> 00:38:59,300
is it free of vulnerabilities? 
I already I scan for that, I 

602
00:38:59,300 --> 00:39:02,800
automatically scan for it and 
produce, you know I say yeah 

603
00:39:02,800 --> 00:39:04,700
that code can move forward into 
production. 

604
00:39:04,800 --> 00:39:07,400
It's free. 
Vulnerabilities, free of 

605
00:39:07,400 --> 00:39:10,400
defects. 
So you know the clown has helped

606
00:39:10,400 --> 00:39:15,100
us enable that we've built what 
we call a platform as a service,

607
00:39:15,100 --> 00:39:19,000
which is a sort of development 
toolkit for our Engineers on the

608
00:39:19,000 --> 00:39:22,000
cloud, able to develop so much 
faster. 

609
00:39:22,200 --> 00:39:26,400
Once again, reusable utilities. 
They don't have to do error 

610
00:39:26,400 --> 00:39:28,300
handling. 
We already pre-built that and 

611
00:39:28,300 --> 00:39:31,300
they can reuse that. 
You don't need to build logging 

612
00:39:31,300 --> 00:39:34,300
so already reuse and they can 
reuse that on the platform. 

613
00:39:34,700 --> 00:39:39,100
So many, Of these capabilities, 
allow our developers to really 

614
00:39:39,200 --> 00:39:44,500
move at speed in the cloud. 
It's also enabling us to really 

615
00:39:44,500 --> 00:39:49,500
improve resiliency because we 
have multiple availability zones

616
00:39:49,900 --> 00:39:52,300
within the cloud. 
We have multiple regions. 

617
00:39:52,400 --> 00:39:56,000
So we're able to fail over from 
one region to another region. 

618
00:39:56,200 --> 00:40:00,000
And so it's really improve the 
availability of our most 

619
00:40:00,000 --> 00:40:03,000
important here, one 
applications. 

620
00:40:03,400 --> 00:40:07,900
And then finally you know cost 
You know, ultimately our plan is

621
00:40:07,900 --> 00:40:15,300
to exit our data sensors by 
2025, by the end of 2025, that 

622
00:40:15,300 --> 00:40:20,100
unlocks massive amount of 
operating expenses that we can 

623
00:40:20,600 --> 00:40:24,800
feed back in to other things at 
the bank, either more 

624
00:40:24,800 --> 00:40:27,700
development, more, new 
capabilities or other priorities

625
00:40:27,700 --> 00:40:30,400
for the bank. 
But unlocking that and, and, you

626
00:40:30,408 --> 00:40:34,700
know, we see the cloud as a much
cheaper alternative to having 

627
00:40:34,700 --> 00:40:37,800
our own a brick-and-mortar in 
our own data senses. 

628
00:40:38,100 --> 00:40:44,200
So again, there is this 
technology architecture that 

629
00:40:44,200 --> 00:40:50,000
enables the agility and the 
responsiveness to customer needs

630
00:40:50,000 --> 00:40:55,700
customer requests, which 
therefore, improves customer 

631
00:40:56,100 --> 00:40:59,300
experience and proves revenue, 
and all the good things 

632
00:40:59,300 --> 00:41:02,300
associated with that. 
Absolutely, you brought it full 

633
00:41:02,300 --> 00:41:06,700
circle Michael. 
As we finish up Any closing 

634
00:41:06,700 --> 00:41:12,100
thoughts on this alignment of it
with customer experience? 

635
00:41:12,500 --> 00:41:16,100
One piece of advice, I'd give is
make sure you have the right 

636
00:41:16,100 --> 00:41:19,000
talents. 
We we swung the pendulum a 

637
00:41:19,008 --> 00:41:21,600
little too far over to 
Outsourcing. 

638
00:41:22,000 --> 00:41:25,100
I would say, you know, four or 
five years ago and we've now 

639
00:41:25,100 --> 00:41:29,400
swing that pendulum will be back
with hired. 550 software 

640
00:41:29,400 --> 00:41:33,700
Engineers, the bank, we've 
trained and Reese killed over 

641
00:41:33,700 --> 00:41:37,100
400 stuff. 
For engineers by developing, an 

642
00:41:37,100 --> 00:41:41,700
internal academies, badging 
certification programs and and 

643
00:41:41,700 --> 00:41:44,700
our colleagues love it. 
They love the fact that we're 

644
00:41:44,700 --> 00:41:48,300
investing in them, they're able 
to use new technologies. 

645
00:41:48,400 --> 00:41:51,400
These academies that they've 
learnt 30 different, new 

646
00:41:51,400 --> 00:41:54,900
technologies, whether that's 
mongodb or snowflake, or 

647
00:41:54,900 --> 00:41:57,400
postgres sequel. 
Whether it's the new Dev, say 

648
00:41:57,400 --> 00:42:00,800
cops tooling that we've been 
able to bring in and, you know, 

649
00:42:00,800 --> 00:42:04,900
new apis microservices. 
So you know, they have this 

650
00:42:04,900 --> 00:42:05,800
engineer. 
Muscle. 

651
00:42:05,800 --> 00:42:09,000
They did people in Technologies,
they were computer science 

652
00:42:09,000 --> 00:42:11,400
grads. 
They just lost that muscle. 

653
00:42:11,800 --> 00:42:15,000
They were they were managing and
not doing and so, you know, 

654
00:42:15,000 --> 00:42:18,700
we've now enabled them by 
re-skilling them, retraining 

655
00:42:18,700 --> 00:42:22,000
them to do again. 
And so I would say, invest in 

656
00:42:22,000 --> 00:42:26,600
your people invest in your 
talent, train them would be, you

657
00:42:26,600 --> 00:42:29,400
know, one piece of advice. 
And then, you know, also look at

658
00:42:29,408 --> 00:42:33,800
the external Market Place, bring
the right talent in so they can 

659
00:42:33,800 --> 00:42:37,000
coach and mentor. 
Your existing Talent base as 

660
00:42:37,000 --> 00:42:39,700
well, but that's that's 
fundamental, I would say, get 

661
00:42:39,700 --> 00:42:43,500
the, get the talent rides and 
other things will fall, will 

662
00:42:43,500 --> 00:42:46,400
fall in place. 
Great advice, get the talent 

663
00:42:46,400 --> 00:42:52,100
rate and other things will fall 
in place and with that, we're 

664
00:42:52,200 --> 00:42:55,200
out of time. 
And so I just want to say 

665
00:42:55,200 --> 00:42:58,600
Michael, thank you so much for 
taking your time to be with us 

666
00:42:58,600 --> 00:43:01,300
today. 
Thank you, Michael everybody. 

667
00:43:01,300 --> 00:43:04,500
Thank you for watching. 
Especially those folks who asks 

668
00:43:04,500 --> 00:43:07,200
such excellent. 
It and insightful questions. 

669
00:43:07,400 --> 00:43:12,200
Now before you go please hit the
Subscribe button at the bottom 

670
00:43:12,200 --> 00:43:16,500
of our websites EXO talk.com so 
you can subscribe to our 

671
00:43:16,500 --> 00:43:20,600
newsletter and be sure to 
subscribe to our YouTube 

672
00:43:20,600 --> 00:43:23,200
channel. 
Check out cxo talk.com and we 

673
00:43:23,200 --> 00:43:25,800
will see you again next time. 
Have a great day everybody.