October - 2016 - issue > CIO INSIGHT

Developing Right Technical Capability For Differentiated Customer Experience

Mohan Sankararaman

SVP, Deputy CIO-First Horizon National Corporation

Thursday, October 13, 2016

Forward

Offering a different customer experience is becoming a challenge these days. Banks choose to buy and deploy off-the-shelf technical solutions to deliver banking products to customers-a model that is a common practice in small to mid-sized banks.

This strategy helps them optimize their technology spend and deliver new products quickly, but while this is a good financial strategy, it does not help the banks differentiate their products from their competition. In many cases the solution comes from the same known financial services vendors.

The result is that when deployed, these products look and behave the same way across banks. Now, the question is how to differentiate when using these procured products.

At First Tennessee we faced with this same challenge. We wanted to offer differentiated customer experiences with our products and at the same time to optimize our technology spend.

In other words, we want to spend less and be different.