Overview of Change
Michael Wisler took on the role of chief information officer at M&T Bank in 2018, aiming to enhance the bank’s technological capabilities. His experience at Capital One helped him understand the importance of in-house technology. Wisler’s vision was to reduce dependence on external tech contractors and create a more agile response to customer demands and technological advancements. This shift is about recognizing technology as a key competitive edge for M&T Bank.
Key Initiatives
- Investment in in-house tech talent has led to over 80% of tech and data teams now working directly for the bank.
- A technology development program is in place to attract fresh graduates and nontraditional talent, expanding the talent pool.
- M&T has established two technology centers in downtown Buffalo to foster innovation and collaboration.
- Wisler now oversees technology and operations as the senior executive vice president, focusing on efficiency across various business functions.
Significance of the Transformation
This strategic move is vital for M&T Bank’s growth and adaptability in a rapidly evolving financial landscape. By prioritizing technology and skilled personnel, the bank is not just improving operations but also enhancing customer service. This transformation positions M&T Bank to better compete in the industry, ensuring it meets the needs of its millions of customers effectively. The focus on in-house capabilities reflects a broader trend in banking, where technology is no longer just a support function but a core part of the business strategy.
