A seasoned executive with over 35 years of experience leading digital transformation in the financial services sector, George Brady has been a trusted CIO/CTO for multiple Fortune 500 companies.
Now, as a member of HTEC’s Advisory Board, George took the time to discuss his approach to digital transformation and business strategy, major technological shifts and their effect on companies across industries, and what motivated him to join HTEC’s Advisory Board.
Tailored strategies for navigating digital transformation
George’s diverse work experiences include six years as chief technology officer (CTO) at Capital One and three years (and counting) as chief information officer (CIO) at loanDepot. He’s no stranger to spearheading technology transformations for large financial institutions. We were curious how his experiences shape his approach to business strategy and digital transformation.
“It starts with understanding a company’s age and current condition — getting to know their technology landscape. Firms that have been around for a long time have significant amounts of technical, software, and data debt. Also, it’s crucial to understand the culture and get to know the team well so you can earn trust and gain major stakeholders’ buy-in before moving forward.”
Skepticism, legacy systems, and regulations in digital transformation
Having spent his entire career in the financial services sector, George is familiar with the industry’s heavy regulations. These regulations sometimes make companies reluctant to change due to potential compliance issues and other risks. In addition, large companies are sometimes slow to embrace opportunities to modernize their technology as transformation usually takes considerable time and resources. We were eager to know how, in George’s experience, these concerns affect tech transformation in the industry.
“In finance, there’s always quite a bit of healthy skepticism when it comes to change and whether it’s good or bad. A lot of financial services and banking firms trace their roots to the 60s and 70s, and sometimes, it’s not easy to let go of frameworks you are used to. It’s crucial to explain the change and its benefits so that everyone can understand — stakeholders want to ensure you are not compromising integrity and increasing risk.”
Fueling global growth efforts via advisory boards
With George joining HTEC’s Advisory Board, our well-versed team will further strengthen its fintech expertise, bolstering our strategic planning capabilities to deliver enhanced value and insights to HTEC customers. Impressive knowledge of the finance sector, experience in multiple executive roles, and a strong network of industry connections are just some of the assets that George brings to the table. Our next question was about how an advisory board impacts a growing business like HTEC.
George pointed out that the diversity of members’ backgrounds on a board can make a strong impact, as it brings industry expertise and knowledge about the peculiarities of markets across the globe. With experience in the US and Europe, George is very well acquainted with regulatory standards in different countries. He believes this can help fuel HTEC’s responsible and secure growth.
Successfully navigating the unique fintech landscape demands a deep understanding of market nuances, especially when a firm operates globally like HTEC. With the majority of customers based in the US and EU, I believe the company can significantly benefit from my vast experience in those markets. Of course, you could gain a lot of this knowledge yourself, but it takes time and resources, and it would be at the cost of not being able to grow at the pace you want to. HTEC has visionary founders, a culture of incessant innovation, and a strong drive for growth on a global basis – and I believe that the Advisory Board can bring them one step closer to achieving their strategic goals.
When asked about the goals he is particularly excited to achieve with HTEC, George singled out global expansion, growing expertise in the financial services sector, and leveraging his network of connections to enhance HTEC’s brand positioning across the US.
Novel technologies transforming the business landscape
George’s entire career has been at the crossroads of business and technology, and over more than three decades, he’s seen technology transforming individual companies and evolving entire business ecosystems. We asked him for his two cents about groundbreaking technologies that will revolutionize businesses going forward.
Generative artificial intelligence
With the advance of generative artificial intelligence (GenAI), the finance sector is undergoing a fast transformation through automated risk assessment, fraud detection, and personalized financial advice, revolutionizing decision-making processes. This transformative effect is already evident across industries.
“GenAI will fundamentally change how software is developed. It will also have a profound impact on things like the supply chain, staffing, technology, and projects. Companies that are at the forefront of this shift and really understand it will have the greatest potential for growth. Not just in terms of being able to advise their customers but also in preparing their workforce for the future. HTEC has done a great job with it – they have developed a framework to empower the entire workforce to advance their AI skills and have internal R&D teams exploring emerging AI-powered solutions!”
Cloud computing
Even though cloud computing is not as hot a topic as GenAI, George considers it very relevant today, especially for older companies with a lot of tech debt. George recalled when one of his former companies, Capital One, switched to the cloud. Capital One was one of the first financial institutions in the US to adopt a cloud-first strategy, and there were initially a lot of uncertainties during the process. George was at the forefront of this massive innovation:
“What we needed to do was present the new technology to various stakeholders in a language they could understand. This included the benefits, potential risks and challenges, and the expected ROI. I made a five-year plan, starting with the destination or end goal. Then we worked on the steps, what we should achieve in six months, in a year, and so on. Once everyone saw these small milestones happening, they realized we were on the right track.”
Beyond technology: George’s podcast recommendation
We heard a lot of valuable insights from George — but from the first moment, he left such a positive impression that we knew we wanted more than his professional advice and industry perspectives. So, one final question for him was to recommend a recent compelling read or podcast.
“I have to admit that I binged the Huberman Lab podcast on sleeping. It’s hosted by Dr. Andrew Huberman, a Stanford researcher, and the series on sleeping features Dr. Matt Walker, a renowned neuroscientist and sleep expert. You can hear a lot of useful advice on sleep and performance and how it affects cognitive function, emotional wellbeing, memory and learning, and overall health. I strongly recommend it!”
Having the opportunity to interview George was a pure pleasure. We cannot wait to see him in action and make an impact together!
Keen to bring your financial services business to the next level? Connect with George to discover how we can help you on your digital journey.