It is clear that the technology landscape is evolving rapidly and organizations need to consider multiple factors that could have high disruption impact to their business, to their clients and end users.
At the XI BNY Mellon Signature Leadership Forum in New York City, Suresh Kumar, BNY Mellon Global Chief Information Officer and Larry Quinlan, Deloitte Global Chief Information Officer delivered powerful keynote presentations to the delight of the audience attending the event. Both leaders made emphasis on technology trends, with focus on people above everything else.
The BNY Mellon Signature Leadership Forum focused on technology and networking to build relationships with industry professionals and explore potential partnership opportunities.
Here are the key takeaways for CIOs to consider:
Client Experience is Critical
The success of technology organizations including the financial services sector will be determined by the client experience. The experience strategy and framework needs to support the development and integration of easy-to-use, consistent components built internally as well as by partners and third parties.
Not too long ago, the client experience was haphazard, users were captive and they did not have much choice. In today’s world, organizations need to spend time creating a solid user experience. It is not easy, it requires UX people with the right skills, collaboration, experimentation, A/B testing, validation and iteration. Organizations need to understand the value of investing in the client experience to succeed.
The Core Renaissance
Organizations always face a dilemma to balance the need to invest in the core, back-end systems and platforms, or invest in front line systems where you grow revenue. The decision between these two tends to result in investing in revenue generating initiatives. However, not investing in your core will be a problem. IT leaders are interested in the Core Renaissance. The realization that your organization needs robust platforms to support the kind of innovative things you want to do. Innovation built on a robust platform gives your organization a competitive advantage.
The IT Worker of the Future
In the not so distant past, the IT Worker’s concern was about writing code or taking care of servers. The last thing on their mind and the last thing they wanted to see was a customer.
The IT Worker of the Future has evolved to a model where there is a strong need to understand business and understand people. Retooling the IT Worker of the future is important, but getting help to them is even more important. Organizations do not have to build every platform, application, you don’t have to build everything you use. This perspective gives your organization the opportunity to concentrate on retooling the IT Worker of the Future focusing on your business and providing them with the tools, technology and knowledge to succeed.
Employee Experience as an enabler of Culture Transformation
Technology is cool, but technology organizations are not perceived as cool. The challenge is how to create an environment that changes the way employees feel about the technology organization.
Giving people a choice in the information technology they use (phone, laptop, etc.) creates a perception of control and drives engagement. People like being in control to make choices.
People are more engaged with IT when you make them fun, they engage, they talk about them. Taking a sensitive topic like security people can relate to it when you connect an emotion, creating the conditions for people outside of IT to relate better, and participate.
When your colleagues and co-workers feel that they engage and have influence in matters that affect them, you get the political capital to push IT Strategic initiatives that will have a more profound impact in the organization.
Good Experience is Good Business
Creating a culture of client and employee experience is hugely critical. If you want the people in your organization to innovate, you need to provide them with the experience, the environment and the right conditions. You also need to get your clients involved early and often throughout the product development process. The experience you deliver inside and outside of your organization needs to be superior. It is a matter of competitive advantage.
This article is also available in LinkedIn Pulse
Additional References – Deloitte University Press