To serve a changing market and respond to new competitors, retail banks and credit unions are rethinking and expanding the role of the Chief Information Officer (CIO). Beyond improving the traditional front-office and back-office digital functionality, the focus is increasingly on improving consumer experience. This has meant that CIOs have now become the drivers of digital banking transformations. The most successful breed of “new” CIOs accomplish this by accelerating the pace of innovation, expanding customer-centric services, developing multichannel distribution and consumption, developing end-to-end process Digitalization and enhancing customer service via digital tools. These new roles have also meant that CIOs must expand the depth and breadth of their relationships within their organizations, particularly with senior leaders in business and marketing, creating new partnerships within organizations and new ways of approaches issues needing to be resolved.