When Jeff Henderson started in 1994 as manager of derivative systems for TD Securities, the Internet’s role in banking was still several years away. The advent of mobile devices was even further off. Cloud computing was not yet called cloud computing. And yet the financial institutions’ latest executive vice-president and CIO has just as many emerging technologies as he leads IT strategy today.
Henderson’s appointment follows stints as CTO, CIO of TD Canadian Banking, of CIO TD America’s Most Convenient Bank, CIO of Wholesale Banking, and Chief Auditor for TD Bank Group. Even with that track record, he says he knows the pressure he faces is different than most of his predecessors: it’s less about running traditional IT than transforming the customer experience.
“It’s not about predicting about what the next killer app is going to be. It’s about delivering an infrastructure and an architecture that keeps us agile,” he said. “We haven’t done that in the past as much as we need to going forward.”
With banking customers trying a wide range of digital solutions with their banks and credit unions, financial institutions need to continue to evaluate market needs and technology trends. In many cases, they must understand their banking customers’ needs so well that they can accurately anticipate future areas of interest and engagement. And while not every move may be a resounding success, most will likely be important and relevant to customers, and help move toward an increasingly rewarding customer experience and a lasting banking relationship.
Overview by Ed O’ Brien, Director, Banking Channels Advisory Service at Mercator Advisory Group
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