Last Friday, we hosted a Quarterly Think IT Event on the topic, How TCF is Navigating Disruption and Crisis with Our Operating Model, Technology, and Culture. A huge thank you to our panelists Brett Brunick, CIO at TCF Bank, Chris Chapman, EVP, CIO Wholesale Banking and Corporate Services at TCF Bank, Barb Johnson, VP, Product Manager Wholesale Originations and On-boarding at TCF Bank, Brian Katlack, SVP Senior IT Director at TCF Bank and, Ritu Sharma, SVP Data CoE, Analytics, Data Mgt., Platforms & MDM at TCF Bank for sharing TCF’s culture and operating model with the group. A huge thank you to everyone who joined us as well!
Below you will find an overview of the most popular questions from our members and a summary of what was discussed.
As you plan for 2021, how are your technology plans changing to adapt to our new reality?
TCF is planning for much more digital capability, which will be needed for banking. Everything starts with digital engagement, which was why their merger of equals was helpful.
Whether this was an acquisition, takeover, or merger, TCF has undergone many IT layoffs. How have you approached morale and culture challenges recently?
These were investments that TCF just knew they had to make. They were as open, honest, and transparent as possible and wanted to make sure everyone understood where they were coming from. They are now focusing on the right work and the right outcomes needed to go into 2021.
What are the most important decisions you made as a leader of your organization during the merger?
All TCF made good choices on where to put certain talent, and people took on new roles during the merger. This allowed teams to really develop, which has helped TCF in the long run. TCF re-platformed all systems from legal day one to system day one.
How is TCF handling the War on Talent, which seems to have ramped up during the pandemic?
TCF wants to get to the talent that will help them get the best outcome for their organization. They want people who are interested in the team and company. TCF has a culture that focuses on diversity and inclusion, which created an environment that attracts talent.
Is TCF doing anything around Open Banking or Banking-As-A-Service?
This isn’t how the banking system works just quite yet. TCF is decomposing their capabilities and pushing to see where customers and businesses are. They want these types of services to be easy for their users. TCF is ready for open banking.
What challenges are you facing in supporting your new business partners at Chemical bank?
TCF is getting comfortable with all the technology and is excited about what new offerings there are in the merger. The whole goal is to go to the market and figure out what the best strategy is to show up as the new TCF. They took supporting Chemical Bank as a new opportunity.
TCF has fostered accountability and ownership during the merger and took any curveballs thrown their way. They have a good foundation and culture. TCF had to sell, put arms around each other, and explain the merger of equals.