WEBVTT 1 00:00:05.338 --> 00:00:09.342 - The status of technologies when I joined Citizens 2 00:00:09.342 --> 00:00:12.012 was that there 3 00:00:12.012 --> 00:00:15.682 wasn't a very good relationship with the business. 4 00:00:15.682 --> 00:00:20.937 The technology organization was very highly outsourced 5 00:00:20.937 --> 00:00:26.443 and they didn't have necessarily the deep engineering 6 00:00:26.443 --> 00:00:30.447 skills to compete in today's environment where 7 00:00:30.447 --> 00:00:35.201 really our competitors are fintechs, not even other banks. 8 00:00:35.201 --> 00:00:37.537 And if you think about what we're really trying to achieve 9 00:00:37.537 --> 00:00:39.748 from a business perspective, 10 00:00:39.748 --> 00:00:42.917 we wanted to improve the stability 11 00:00:42.917 --> 00:00:46.963 of our environment or improve the customer experience. 12 00:00:46.963 --> 00:00:50.800 And we really wanted to improve our time to market. 13 00:00:51.676 --> 00:00:55.597 And so we really created five pillars 14 00:00:55.597 --> 00:00:58.391 around those business transformations. 15 00:00:58.391 --> 00:01:01.061 The first pillar was moving to agile. 16 00:01:03.605 --> 00:01:07.859 Secondly, we created this platform approach. 17 00:01:11.529 --> 00:01:13.198 Thirdly, and then probably one of the most 18 00:01:13.198 --> 00:01:17.327 critical things was really developing a really 19 00:01:17.327 --> 00:01:19.954 great engineering talent base. 20 00:01:19.954 --> 00:01:23.166 The fourth was around how do we transform the costs 21 00:01:23.166 --> 00:01:24.125 of technologies? 22 00:01:24.125 --> 00:01:26.169 And that was all about moving to the cloud. 23 00:01:26.169 --> 00:01:29.798 So the fifth pillar was all about protecting the core 24 00:01:29.798 --> 00:01:34.010 and that was around making sure that there was no impact 25 00:01:34.010 --> 00:01:38.807 to our customers from a stability or cyber perspective. 26 00:01:38.807 --> 00:01:43.394 The next generation technology program is only successful 27 00:01:43.394 --> 00:01:46.397 if it really delivers business value. 28 00:01:46.397 --> 00:01:49.025 And we have some terrific examples now 29 00:01:49.025 --> 00:01:52.904 across the bank that we can really showcase where 30 00:01:52.904 --> 00:01:55.156 this new technology is adding value. 31 00:01:55.156 --> 00:01:58.827 We built this lending as a service environment 32 00:01:58.827 --> 00:02:03.039 and it truly is a platform in previously 33 00:02:03.039 --> 00:02:07.836 we brought a number of lending package solutions. 34 00:02:07.836 --> 00:02:11.131 So we had a lending solution for student loans. 35 00:02:11.131 --> 00:02:12.924 We had a lending solution for HELOCs. 36 00:02:12.924 --> 00:02:15.218 We had a lending solution for credit cards. 37 00:02:15.218 --> 00:02:19.681 We had a lending solution for regular loans, for mortgage. 38 00:02:19.681 --> 00:02:21.766 What we've built with this lending 39 00:02:21.766 --> 00:02:25.937 as a service platform is a true platform that can be reused 40 00:02:25.937 --> 00:02:29.232 across those different verticals. 41 00:02:29.232 --> 00:02:32.527 And what we're able to do now is reuse those components 42 00:02:32.527 --> 00:02:37.115 build, build them once, but reuse them many, many times. 43 00:02:37.115 --> 00:02:39.117 And I think that's a huge difference 44 00:02:39.117 --> 00:02:41.327 from where we were before, where frankly 45 00:02:41.327 --> 00:02:44.289 we were operating in a, in a waterfall environment 46 00:02:44.289 --> 00:02:47.876 where it would take months to write requirements. 47 00:02:47.876 --> 00:02:49.669 Then at the end of the day 48 00:02:49.669 --> 00:02:52.672 you would deliver projects that potentially 49 00:02:52.672 --> 00:02:54.257 would take years. 50 00:02:54.257 --> 00:02:56.092 In fact, our release time was 51 00:02:56.092 --> 00:02:59.929 was something like 340 days in the past. 52 00:02:59.929 --> 00:03:03.766 And now our average release time is under 90 days. 53 00:03:03.766 --> 00:03:07.145 We've taken $30 million out of our cost base. 54 00:03:07.145 --> 00:03:10.732 We've reduced a number of outages significantly 55 00:03:10.732 --> 00:03:13.443 and we've improved our mean time to recovery 56 00:03:13.443 --> 00:03:17.322 from something like nine hours to two and a half hours. 57 00:03:17.322 --> 00:03:19.616 There's been a huge change 58 00:03:19.616 --> 00:03:22.535 in the perception of technologies at the bank. 59 00:03:22.535 --> 00:03:25.914 We are now at the table with the business. 60 00:03:25.914 --> 00:03:28.458 (upbeat music)