Investing in new digital tools has transformed Virgin Money ’ s service offering , putting the customer in control . Chief Information Officer , James McGlynn , tells its technology story
Digital disruption is impacting every business sector , not least of all financial services . Increasing customer expectation has seen the emergence of new technologies to meet the growing demand for greater control and flexibility in the way that people manage their finances . This shift has led financial institutions to transform traditional ways of working and invest in new solutions to remain competitive , deliver a frictionless customer experience , drive down costs and enable future business growth .
“ Customers expect to be able to manage their finances whenever and wherever is most suitable for them and technology is the key to meeting and exceeding their expectations ,” explains Chief Information Officer of Virgin Money , James McGlynn . An electronic engineer by background , McGlynn witnessed how the 2008 financial crash led to the subsequent acquisition and merger of financial institutions and the emergence of ‘ challenger banks ’, creating a seismic shift in the financial market . This disruption has also been supported by the development of new digital tools designed to make banking increasingly seamless , with new services devised specifically around the customer experience .
“ You could argue that in a future Open Banking market , three things will become increasingly important for
312 May 2018