Another important point discussed was regarding the role of the CIO within FS firms. In other industries we hear a lot about the role of the CFO and CEO and how both are becoming more tech savvy and play a big part in the buying decision. However, in FS, this has not happened. Here, the CIO remains a critical gatekeeper and someone who holds the purse strings on IT purchasing.
While overseeing spend is important, it’s also important to note that the CIO has a key role in reassuring the CEO on the transformations being deployed and investment being made.
That means putting in place a pragmatic roadmap for change, showing that the CIO’s partners and vendors are aligned with the transformation projects and, lastly, it means providing reassurance that the approach is doing all it should – driving resilience, mitigating risk while opening the door to new levels of product and service innovation.