BAS 2020: Truist hires engineering talent to own its tech roadmap

Truist is boosting its technology efforts by hiring its own engineers instead of relying on software partners. [caption id="attachment_184936" align="alignright" width="250"] Ken Meyer of Truist[/caption] “We’ve always had some fantastic engineering talent,” said Kenneth Meyer, chief information officer of digital channels and innovation at Truist Bank, during a fireside chat at Banking Automation Summit today. The bank was formed by the SunTrust and BB&T merger in December. “Now, more than ever, especially as we move to more agile ways of working, making sure we have the hands-on-keyboard engineering talent that can both create new experiences and automate more things, that’s certainly where our focus has been this year.” Although the bank has used partnerships with technology vendors like Blue Prism and Infosys, Meyer said the focus on hiring engineering talent internally helps the bank dictate its own technology roadmap. This hiring priority helps shift the bank’s IT focus from vendor and product management to building its own solutions. Overall, Truist doesn’t want to become too dependent on third party platforms when it comes to automation projects, according to Meyer, and banks often need their own unique technology to fill holes in workflow. “We’ve definitely leveraged more automation software where we can to help us orchestrate some of that efficiency and really accelerate it,” Meyer said. “But we’re also going to look at automation, regardless of whether or not we have a software platform.” He added the bank currently has more than 65 bots in production, which need constant training to ensure they are keeping up with changes at the bank. Truist’s automation efforts come as the bank is placing a premium on customer feedback to improve digital experiences. The bank uses virtual test sessions with about 3,000 customers to learn what works and what needs improvement in its digital channels, and is currently building its Innovation and Tech Center in Charlotte, N.C., to bring different departments together to focus on new innovations. “When you think about banking innovation and the pace that it’s occurring, building a financial solution with your clients is super important,” Donta Wilson, chief digital and client experience officer at Truist, previously told FinAi News . “Our goal is to have the best and most distinct client experience in any channel our clients want to show up.” See also: Truist, BNY Mellon accelerate innovation Meyer said during the fireside chat that a key part of product development at Truist is involving risk, fraud, audit, cybersecurity and compliance teams early in the process, saying that banks must navigate the delicate balance of creating a seamless user experience while also protecting against financial crime. Fraud and compliance "have to be really embedded and feel a sense of accountability as we’re developing all new experiences,” Meyer said. The 2020 Banking Automation Summit Virtual Experience , taking place November 9-10, is a new event that will provide a platform for industry professionals to share fresh insights, tools, trends and strategies. The Summit will focus on how automation will transform banking, especially with regard to back-office operations, risk management, data science and utilization, customer experience and more. Register here .

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BAS 2020: Truist hires engineering talent to own its tech roadmap

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