Banking Reinvented Beyond IT: how CTOs are shaping strategic leadership in banking
Episode 33 of Banking Reinvented explores digital transformation in banking, highlighting how platform-centric thinking and strategic CTOs are key to driving long-term growth.
In this episode, host Tim Rutten is joined by Mayur Vichare, Director of Strategy & Value Consulting at Backbase. Together, they discuss why banks need to transition from product-centric to platform-centric strategies, as well as the risks of overfocusing on short-term growth. They also examine how CTOs are taking on a more strategic role in shaping the future of banking.
Tune in to gain insights into the key strategies that set high-performing banks apart from laggards, with actionable insights on using the latest innovations to achieve sustainable growth.
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(00:00) - Welcome to the ‘Banking Reinvented’ podcast
(00:34) - Introduction of Mayur Vichare and his role at Backbase
(01:42) - Mayur’s reflections on how banking has evolved in recent years
(03:59) - The challenge of IT spend versus value
(09:41) - The stark difference between leaders and laggards in banking
(12:15) - Why platform-centric thinking outpaces product-centric approaches
(15:34) - Understanding the evolving role of CTOs in banking
(17:23) - The misalignment of priorities: short-term wins versus long-term strategy
(20:13) - The barriers to digital transformation in banking
(23:02) - Key takeaways
(25:28) - Episode wrap-up