Mary Cecola, the Chief Technology Officer at Broadridge, a global fintech leader, highlights the importance of AI in digital systems and shares valuable perspectives on improving technological solutions.
Many companies are racing to enhance their digital transformation efforts. One key area of focus is the integration of AI systems. Surprisingly, 60% of businesses are still unprepared for generative AI. However, the success of AI investments ultimately depends on the quality of data.
Mary Cecola, CTO of Asset Management at Broadridge, discusses the importance of strong data governance in enterprises and shares successful strategies for implementation in an exclusive interview with AI Magazine.
Broadridge, a leading player in the fintech industry with revenues amounting to US$5 billion, is committed to empowering clients in overcoming current challenges and capitalizing on future opportunities. We achieve this through innovative communication, technology, and data analytics solutions.
Starting in October 2022, Cecola brings a wealth of expertise in designing technology strategies that transform business operations, seamlessly incorporating AI and cybersecurity measures.
Path to Prominence: Navigating a Leading Tech Role
With over thirty years of experience in the Financial Services technology sector, Cecola’s journey started as a programmer/analyst. Embracing continuous growth and adaptability has propelled her from this initial role to leadership positions. Succeeding in her current capacity necessitates mastery of complex financial systems and staying up to date with emerging technologies.
A Glimpse into the Broadridge Landscape
As the CTO of Asset Management, Cecola oversees the strategic direction of Broadridge’s Asset Management applications. Working closely with product and sales teams, she ensures that technology solutions meet client needs in terms of functionality and performance. Furthermore, she collaborates directly with delivery teams to foster innovation and ensure timely execution.
Nurturing Responsible AI Development at Broadridge
At Broadridge, ensuring ethical AI deployment and data security is our top priority. As the CTO, Cecola closely monitors industry developments to ensure we adhere to best practices in our operations. She works collaboratively with teams to maintain consistent adherence to these practices.
Fortifying Financial Firms through AI: A Cybersecurity Imperative
In the face of increasing cyber threats against fintech institutions, Cecola emphasizes the significance of AI systems. These systems accelerate the identification of real threats amidst the chaos, providing faster and more precise threat detection. Considering the appeal of financial data to hackers, the analytical power of AI plays a crucial role in distinguishing malicious activities from normal user behavior, strengthening data integrity.
Broadridge’s AI Trajectory: A 12-Month Outlook
Broadridge has already introduced 16 AI applications and expects continued expansion. Their AI journey spans three main categories: innovative AI-powered products, AI-enabled product extensions, and internal efficiency improvements. With AI-driven offerings such as LTX, Allocate, and Wealth Predictive Analytics, Broadridge enhances client value. Internally, AI optimizes processes like intelligent document processing, boosting productivity and output quality.
Broadridge will shift its AI efforts towards Financial Service technologies in the upcoming year. Their strategic focus centers around client-oriented products and internal efficiencies as the cornerstone. Guided by the pillars of Product, Platform, Productivity, and Protection, Broadridge seeks to enhance the impact of AI in the financial technology domain.
