CFO Focus: Digital transformation as a shared vision

CFOs, CMOs and CTOs must together harness financial wisdom and analytics to make the best possible tech spending decisions.

Ask most credit union C-suites to describe their digital transformation goals, and chances are the CMOs and CTOs will be brimming with ways to leverage data, analytics and technology to become even more member-centric.

Query the CFOs, though, and a different set of priorities will often emerge. That’s because many CFOs—long accustomed to acting as the voices of caution—have learned to restrict their input to coming up with ways to pay for it all.

If this dynamic sounds familiar, your credit union could be shortchanging itself when it comes to developing its digital transformation strategy. Remember, it was Silicon Valley tech pioneer and Hewlett-Packard co-founder David Packard who once famously noted that, “Marketing is too important to be left to the marketing department.”


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