EXECUTIVE BIO

JON DOUGLAS

TITLE:

CHIEF INFORMATION OFFICER

INDUSTRY: BANKING

LOCATION: UNITED STATES

Jon Douglas serves as the Chief Information Officer (CIO) at Credit Union of America, bringing a unique blend of military discipline and technology leadership to his role. His experience spans more than 24 years in the information technology industry, fortified by a notable 20-year active-duty career in the U.S. Air Force.

Jon spent two decades serving in the Air Force. He took on diverse roles in systems operations and IT management, demonstrating exceptional leadership while navigating the complexities of strategic technology operations under pressure.

During his military service, Jon furthered his education at the University of Maryland Global Campus (UMGC), earning an MBA and an M.S. in Cybersecurity. These additional credentials helped him transition seamlessly into the education industry, and eventually, the financial services industry, where he has become known for enhancing cybersecurity, optimising IT operations, and driving digital transformation.

Moving fintech forward

However, while it’s important to keep a balance between the latest technology and maintaining personal points of contact for members, technology can be used extensively to support and grow both sides.

The key to maximising technology in the backend for Douglas is using data in the right way. “Working on our data warehouse is great because we can already know what a prospective member is looking for before they show up. We can get access to their transaction histories, and maybe they’re missing a loan service they didn’t know they could have. Using data in the right way with Arkatechture as our vendor helps us better tap into what a customer may need.”

The right use of customer data is important for members too, as Germann notes the credit union’s ability to now offer fast pre-approved loans, whether “it’s a US$40,000 car loan or a US$25,000 credit card. It also makes our employees’ lives easier, so they can focus on other things, and we’re seeing this grow our numbers, as it’s speeding up processing that would have taken far longer before.”

For Douglas, staying on top of the latest innovations is also incredibly important, partnering with vendors already using AI in their products, such as the chatbot that Credit Union of America employs. He notes the importance of AI in “building out our backend to analyse our data faster, and get those results and products back to members as quickly as possible.”

There is always scope for further innovation, as far as Douglas is concerned, particularly in regard to improved customer relationship management (CRM) technology services, which he hopes to improve at Credit Union of America soon. “We’re looking for that right CRM that can give us that single point of access and integrate all our different systems together in one.

“Having everything brought together in one place would really help our frontline staff so they’re not jumping back and forth between different systems. We’re trying to get the right vendor in place for that so we can further streamline our operations moving forward.”

Cautious innovation is good innovation

Getting the right vendor in place is not an undertaking to be taken lightly, as pointed out by Germann. “We want to embrace as much tech and AI as we can, but it’s so important to undertake the right due diligence too; we need to be very cautious.”

Douglas adds: “We have to hold any new vendor partner to specific standards. Are they keeping our members’ data safe when transiting and storing it? Are they accredited?”

Security concerns are just as important questions to answer at Credit Union of America for Douglas too: “For us, it’s asking how we can get even better implementation; how we are testing ourselves or using external entities to test us to make sure we’re always improving our security posture as new technologies emerge.

“So in every area that we implement security protocols for, on the digital forefront, security is always front of mind as it should be. And we’ve got a great team here working on that. That’s what we will continue to do as we move forward.”

Enjoying the fruits of your compliance

Stringent security requirements and compliance needs shouldn’t detract from a business’ drive for greater digitalisation; the benefits of partnering with a fintech far outweigh the time to complete due diligence.

Using the example of fintech Clutch as one of Credit Union of America’s partners, Germann notes: “Clutch has helped us significantly in supplying instant quotes. It used to take months to find the right quote for our members but with Clutch, you just need to input a member’s cell number and the last four digits of their social security number, and it can pull up a car they bought and how much they owe on it, all in a secure way.

“So once you get security right, we and the members can enjoy faster processes and better loan offers.”

A fast and furious future

For Douglas, leveraging the innovations of partner fintechs will become ever more

Preparing the leaders of tomorrow, CUA management engages in mock interviews at local schools to help guide students on their paths to success

“fast and furious” over the next 12-18 months. “We’re bringing in fintech Narmi to update our account opening process, driving quicker wait times for our members and getting all integrated products set up and refined for our customers.

“The partnerships that we’ve created with those fintechs are already starting off on an awesome foot. And we’re excited to see that next evolution.”

This wait for the next evolution will not be too long at all, according to Germann. “Jon (Douglas) has policies written, procedures written and passed. But I think by the time they’re printed and published, Jon will be writing those policies and procedures, such is the speed of innovation before we get the next fintech partner on board. I think the time scale for innovation is closer to four or five months as opposed to 12 months, the industry is moving that quickly.

“The horse has bolted out of the barn. It’s not slowing down but getting ever faster. I actually think I’m misjudging the scope of innovation we’re seeing and the things that can be achieved over the next few months, particularly with the introduction of AI at so many fintech vendors. The speed of innovation in financial services has been rapid, and at the current rate it looks like this pace is set to continue indefinitely.”