Implementing Technology Platforms To Enhance Customer's Experience

Robert Lux, SVP & CIO, Freddie Mac

Robert Lux, SVP & CIO, Freddie Mac

Challenges in technology to meet enterprise needs in 2013 and expectations

Perhaps the biggest challenge we face is to simultaneously meet the technology needs that make Freddie Mac a competitive company fulfilling a statutory mission to support the U.S. mortgage market while also working with our federal regulator to implement technology solutions for the entire mortgage finance industry.

Our key industry goals in 2013 include standardizing mortgage data and aligning common IT processes. Our chief goal at Freddie Mac is to implement technology platforms that will provide our customers with a better experience and increased certainty that we will accept the loans they deliver to us.

The areas in business environment where solutions do not yet exist or not up to the mark, and which if existed, would've made job easier

Like many financial services institutions, we have a large, complex technology environment that requires a lot of time to maintain and sustain. At the same time, we are looking to shift more of our IT budget to investing in competitive differentiators. To do this, we are looking at ways to shift more of our commodity offerings to variable cost services, where we only pay for what we use. This will free up IT budget dollars to fund game- changing technology.

Technology Trends Impacting Enterprise Business Environment

Perhaps the most exciting development in this area has been a multi-year project to standardize the mortgage industry’s data formats and collection processes. The more our industry standardizes data, the more effective its database will become. Another trend at Freddie Mac is the consumerization of IT. When I arrived here two years ago, we didn't allow iPhones or iPads and had no wireless capability. As I said, at that time my goal was to make it as easy to work at Freddie Mac’s offices as it is to work from your local Starbucks. We now support BYOD and have wireless throughout the campus. We are now researching for BYOC (Bring Your Own Computer) possibility so that Freddie Mac employees can use their own PC's for work in a secure manner.

My roles and responsibilities as a CIO

I spent my first year at Freddie Mac focused more on enhancing IT- that is remediating legacy applications, delivering business projects, and enhancing IT's ability to plan, deliver, and operate. In the past year I have focused more on defining our business technology strategy and recruiting top talent.

Another critical role for me as the CIO is to recruit top talent. A CIO is only as good as his or her team, and I have been lucky to recruit some great people to Freddie Mac.

Lessons I learned as a CIO that can help you

I came to Freddie Mac to use my experience to improve the company. But, I have also received as much as I have contributed. I have benchmarked our IT capabilities against best-in-class firms. In areas where we need to improve, I have reached out to those CIO's who have something to teach us and they generously provided many useful lessons which we are putting to good use. My recommendation is to not be shy about asking for help outside your organization. It can accelerate your learning and provide unique perspectives that you can use to improve your organization.

Media Partner: CIOReview | B2B Online 2020

CIOReview Clients: FORCAM , CSR

Check This: CIOReview | Crunchbase

                      CIOReview | Owler

CIOReview Reviews | Glassdoor

Read Also

A Proven Method for Success during a Challenging Time for Projects

Lee Sellenraad, Principal, CCM, Certified Lean Innovation at Avison Young Consulting

The Relevance of Shared Credential Verification Ecosystems for Learners

Gerd Kortemeyer, Director of Educational Development and Technology

Technological Advancements Revolutionizing Pharma Industry

Debarshi Dey, Head of Biostatistics and Data, MorphoSys

Edge Computing...Where Does It Fit Today and Tomorrow!

Adel Bekhiet, MBA, PMP, Senior Director of Infrastructure & Cloud Services, Northwestern Mutual (NYSE: NWE)

7 Strategies That Make It Easier for the Employees to Collaborate Effectively in Remote and Hybrid Work

Neeraj Grotra, Head of IT, Application Services and Global Business Transformation, Kinectrics
follow on linkedin follow on twitter

Copyright © 2022 CIOReviewEurope. All rights reserved.         Contact         |         Subscribe