Jahangiri: At a recent FST Media conference you raised concerns surrounding virtualisation. Can you elaborate?


Gay: I’m actually a strong advocate for virtualisation. We’ve got a considerable amount of virtualisation in our desktop, server and storage arena, and plan to grow this further as a part of our data centre consolidation. Like the adoption of any new technology, companies need to properly plan for it, and if planned well, virtualisation provides outstanding improvements in TCO, DRP and overall supportability.


Jahangiri: GE Capital claims to be a supporter of sustainability within its own technology operations on a global scale. Can you share with us some of the sustainable initiatives planned for GE Capital in Australia and New Zealand?


Gay: Globally, GE takes sustainability very seriously. We were recently named the ‘Global 100 World’s most sustainable company’ at the World Economic Forum in Switzerland. GE has a multibillion-dollar ecomagination initiative, and with the help of our employees, we cut total carbon emissions from 10.8 million tons to 6.5 million tons, while increasing sales from $150 billion to $181 billion between 2006 and 2008. Sustainability is also a top priority for IT here in Australia and New Zealand. We recognise that data centres leave a huge carbon footprint; therefore we have a strategy that will reduce our local footprint by at least half over the next three years.


Jahangiri: GE Capital is in the process of a three-year IT transformation. What are the key objectives and deliverables of this project? 


Gay: As an organisation, we’ve always held the philosophy that there’s no such thing as an IT project, and that all projects should be owned and led by the business. We’ve been hugely successful in delivering these projects, but need to focus on solidifying our enterprise architecture, or IT blueprint. Our transformation is about simplifying and rationalising our technology environment and ultimately making GE Capital more productive as an organisation.


Jahangiri: There is an increasing uptake of mobile technology in the retail banking and insurance sectors. Do you foresee a future for mobile consumer finance; why/why not?


Gay: We’re seeing roughly 7% of customers using mobile channels today, and this will only grow. We’ve shifted our mindset from mobile simply being a modified version of our existing service engine, to it being a channel in its own right. Interestingly, we’re finding that early adopters of this technology are less defined by traditional demographics, but more about their access to Internet. For example, tradespeople don’t have access to a PC during the day are more likely to adopt mobile channels sooner.


Jahangiri: What are your technology priorities for the year ahead?


Gay: We have three key investment areas in 2010. Firstly, we’ll be working to deliver new requirements to meet the National Consumer Credit Reform that’s being introduced later this year. Secondly, we’ll be investing heavily in channel technology that’s aimed at simplifying every customer interaction. Finally, we’ll be executing the IT transformation program that will ultimately drive productivity across our entire organisation.


Jahangiri:  As a chief technologist its imperative you keep abreast of the technology curve. How far in advance do you map out your IT roadmap; and how do you ensure plans are flexible enough to respond to market changes? 


Gay: We work on a three-year planning cycle in 12-month blocks. I know the next 12 months in detail, the following 12 months at a high level, and the final 12 months is really just a list of targets that we may or may not achieve. This allows us to focus on getting things ‘right’ in the short term, while providing enough flexibility to adapt to changes in technology as they emerge.


Jahangiri: What skill-set do you feel contributes to being an effective CTO?


Gay: There are several skills required to be an effective CTO. Firstly, you have to have great people skills and the ability to listen. I lead a large organisation and oversee a considerable amount of technology so it’s essential that I can listen, prioritise and empower my people. Secondly, you have to be an exceptional problem solver. My whole job is about listening to business problems, and delivering solutions that meet the needs of our business partners and GE Capital. Lastly, you have to have an end game in mind. There’s absolutely no point in delivering a whole lot of great tactical solutions that collectively deliver a poor outcome for IT, or the business.


Jahangiri: What keeps you passionate about your job – is it the technology or the sector?


Gay: It’s a mix of both. I like working in the financial services sector, as it’s about helping individuals and organisations achieve both financial and lifestyle goals that are important to them. In Financial Services, technology is our product – every interaction that we have with our customers and every outcome that we achieve is driven by technology. Think about it, loan applications, interest and fee calculation, payments and statements are all the product of technology. For this reason, IT will always have a ‘seat at the table’, and that’s why I think that working in IT within financial services is the best gig in town.


Jahangiri: Every IT leader, particularly at your level, has a legacy they wish to be remembered for. What is yours?


Gay: I’d like to be the guy who is remembered for simplifying the way that GE Capital works, while delivering a competitive edge through technology innovation.