Episode 33 of Banking Reinvented explores digital transformation in banking, highlighting how platform-centric thinking and strategic CTOs are key to driving long-term growth.

In this episode, host Tim Rutten is joined by Mayur Vichare, Director of Strategy & Value Consulting at Backbase. Together, they discuss why banks need to transition from product-centric to platform-centric strategies, as well as the risks of overfocusing on short-term growth. They also examine how CTOs are taking on a more strategic role in shaping the future of banking.

Tune in to gain insights into the key strategies that set high-performing banks apart from laggards, with actionable insights on using the latest innovations to achieve sustainable growth.

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(00:00) - Welcome to the ‘Banking Reinvented’ podcast

(00:34) - Introduction of Mayur Vichare and his role at Backbase

(01:42) - Mayur’s reflections on how banking has evolved in recent years

(03:59) - The challenge of IT spend versus value

(09:41) - The stark difference between leaders and laggards in banking

(12:15) - Why platform-centric thinking outpaces product-centric approaches

(15:34) - Understanding the evolving role of CTOs in banking

(17:23) - The misalignment of priorities: short-term wins versus long-term strategy

(20:13) - The barriers to digital transformation in banking

(23:02) - Key takeaways

(25:28) - Episode wrap-up