Vikram Nafde is the Chief Information Officer (CIO) of Webster Bank, a leading commercial bank with more than $80 billion in assets. He has over 25 years of experience in financial services technology, where he has led large-scale digital transformation, service excellence, strategic planning and delivery, mentorship, and talent development.  As a member of Webster's Executive Management Committee (EMC), Vikram collaborates with business leaders and stakeholders to deliver digital solutions that support the company's vision, mission, and goals. He is responsible for the strategy and execution of all Webster Technology, including business applications, software engineering, platforms, data, architecture, artificial intelligence, agility, tech innovation, infrastructure, and cybersecurity.  He is also a member of the CNBC Technology Executive Council, where he contributes to the ongoing discussions and insights on the latest trends and challenges in technology. In addition, he a member of member of The Wall Street Journal Technology Council, a collective community of leading technology experts from the world’s most influential companies. He is passionate about building values-driven cultures and high-performing teams that leverage innovation and best practices. Additionally, Vikram serves on the board of United Way of Coastal and Western Connecticut (UWCWCT). Recently, in an exclusive interview with CIO Magazine, Vikram shared his professional trajectory, insights on the role of artificial intelligence and machine learning in shaping the future of banking, personal hobbies and interests, his favorite quote, future plans, words of wisdom, and much more. The following excerpts are taken from the interview. Hi Vikram. Tell us about your career journey and what drives your interests? My career has always been rooted in a deep curiosity about how technology can solve real-world problems. I began as an engineer, fascinated by how systems work, and over time, I gravitated toward leadership roles where I could bridge the gap between technology innovation and business impact and outcomes. With over 25 years in technology leadership, I’ve held various technology leadership roles across the financial services industry, building expertise in software engineering, digital delivery, and strategic transformation. When I joined Webster Bank in 2020 as Head of Software Engineering, Digital Delivery, and Agility, I was interested in fundamentally shifting the framework on how we deliver technology solutions to the business and to our clients and I spearheaded the firmwide adoption of the Scaled Agile operating model. Since becoming CIO in early 2022, I led the technically challenging merger of equals of 2 equal asset-sized Banks, as well as multiple smaller acquisitions that drove the expansion of our portfolio. Whether it's converting our core deposits platform or integration of critical systems to improve our colleague and customer experience or to drive our revenue stream, what drives me is the challenge of aligning technologies with business goals to create meaningful outcomes—for customers, colleagues, and the communities we serve. I’m energized by orchestrating complex transformations, integration systems that brings a meaningful impact to our business and fostering teams that deliver service excellence. What do you love the most about your current role? What I love most is the opportunity to shape the future of the bank through technology. At Webster, I’m privileged to work alongside talented teams who are passionate about modernizing our platforms, advancing data and AI capabilities, and building resilient, customer-centric experiences. Merger of equals is always one of highest execution-risk M&A activities, so to successfully lead the various teams on the technology as well as cultural transformation was a phenomenal experience. As a member of the Executive Management Committee, I always align technology with enterprise strategy, ensuring we deliver innovative solutions that empower clients and colleagues. Every day brings a new challenge, and every challenge is an opportunity to learn and lead with purpose. What do you believe are the most significant challenges facing technology leaders in the financial services industry today? There are a few that stand out. First, managing the pace of change—balancing innovation with regulatory compliance and risk. Financial services is of course a highly regulated industry, and CIOs must ensure compliance while adopting technologies like AI and other emerging technologies. Second, modernizing legacy systems while maintaining operational resilience is a persistent hurdle. And finally, attracting and retaining top technology talent in a highly competitive market is critical, particularly as larger banks, FinTechs and Big Techs vie for the same skill sets. As I’ve learned leading Webster’s technology organization, it’s no longer enough to be a technologist; CIOs must be business strategists, change agents, and people leaders all at once. What role do you think artificial intelligence and machine learning will play in shaping the future of banking? AI and ML are fundamentally changing how Banks and Financial Institutions operate and serve customers. From fraud detection and credit monitoring to personalized banking experiences and predictive service models, these technologies are enabling banks to be more proactive, precise, and human-centered. That said, their deployment must be responsible—governed by ethical standards, explainability, and strong data integrity. Challenges like ensuring data quality and model transparency are significant, but AI’s potential to augment human expertise will redefine banking, making it more secure, efficient, and tailored to individual needs. At Webster Bank, me and my team’s primary AI governance focus is ensuring that AI adoption does not introduce undue risk for the organization. We want to ensure that we comply with regulatory expectations, maintain traceable evidence of decisions, and align our AI strategy with overall enterprise business strategy. So, we partnered with colleagues from the three lines of defense, as well as legal and compliance to develop internal guidelines, formalized our AI policy, and established an AI Governance Committee to provide oversight, strategic direction, and governance for responsible and effective design, implementation, and use of AI. We will continue to mature our end-to-end AI governance practices alongside evolving requirements. What personal or professional philosophies have contributed to your success, and how have you applied these principles in your career? I believe in leading with clarity, empathy, and accountability. Clarity ensures alignment, aligning Webster’s technology vision with business goals is a critical part of my role as the CIO of the bank. Empathy builds trust, by cultivating collaborative, values-driven teams, we build high functioning teams that deliver excellence. Accountability drives outcomes, delivering on our technology transformation promises and our commitment to use technology to continuously improve our colleague and customer experiences. I’ve also embraced the philosophy that learning never stops—technology evolves quickly, and staying relevant means staying humble, curious, and open to new ideas, no matter your title. This mindset guided my early career and continues to shape my leadership at Webster, where I champion continuous evolution and innovation across the teams. Is there a particular person you are grateful for who helped get you to where you are? I’ve been fortunate to have many mentors along the way, but I’m especially grateful to a former manager who challenged me to think beyond code and architecture—to think like a business leader. That shift in mindset helped me grow from a technologist into an executive who can drive both digital and organizational transformation. At Webster, I’d also highlight Luis Massiani, our President and Chief Operating Officer, and John Ciulla, our Chairman and Chief Executive Officer, whose support during my transition to CIO and trust in my ability to lead large-scale change – not just technical but also cultural and organizational - have been instrumental. What are some of your passions outside of work? What do you like to do in your time off? Outside of work, I enjoy spending time with my family and staying active. I also try to carve out time to read and catch up on e-books and podcasts about new trends in tech, science, leadership, psychology, and global affairs. Sometimes my ideal weekend is that of rest and rejuvenation. Balance is important—it fuels creativity and resilience, which I bring back to my role at Webster. What is your favorite quote? My favorite quote is by Warren Bennis: “Leadership is the capacity to translate vision into reality.” This resonates deeply because it captures the essence of what it means to be a CIO in today’s tech-driven world—having a bold vision, like driving digital transformation or leveraging AI, is only half the equation. True leadership lies in executing that vision through strategic planning, team empowerment, and agile adaptation to challenges like resource constraints or rapid tech evolution. For me, this quote underscores the need to inspire with big ideas while delivering tangible results, ensuring technology creates meaningful impact for the organization and its stakeholders. What is your biggest goal? Where do you see yourself in 5 years from now? My goal is to continue building an adaptive, future-ready technology organization at Webster—one that’s deeply integrated with the business, fueled by data, and grounded in purpose. I want Webster to be a technology leader in financial services, setting standards for innovation and client experience. In five years, I see myself still learning, still leading, and helping shape and mentor the next generation of aspiring technology leaders, as well as contribute thought leadership using my experience in a broader industry sense to help strength the CIO community and best practices. What advice would you give to aspiring CIOs or technology leaders in the financial services industry? Stay curious. Learn the business as deeply as you know the technology. Build diverse teams and listen to them. And above all, lead with integrity—because the trust you build will become your greatest asset in moments of uncertainty or change. I’d also advise embracing bold challenges, and seeking continuous learning through networks like the Wall Street Journal Technology Committee or the Midsize Bank Coalition of America (MBCA) for regional banking leaders. Relationships and adaptability are key to thriving as a technology leader.