Deloitte Hires Bob Savino to Deliver New BaaS Solution for Financial Institutions

Fintech veteran Bob Savino has been hired by multinational consultancy Deloitte as chief product and technology officer (CPTO) within a new Banking-as-a-Service (BaaS) offering.

Savino will be building out a new fintech start-up team as the firm looks to bring a BaaS solution to market, as part of a wider investment and strategic transformation into digital product offerings.

The hire comes as Deloitte launches ConvergeProsperity, an expansion of its ConvergeHealth business into the financial services sector as part of a $750 million investment to link up people, platforms and ecosystems to boost innovation.

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Deloitte says that ConvergeProsperity's cloud-based software solutions will enable financial institutions to improve the customer experience, reach underserved demographics, expand product offerings, acquire new customers, reduce customer acquisition costs and see greater returns on investments in technology.

Savino will be responsible for enterprise product strategy, B2B and B2B2C customer experience and business technology execution for this new BaaS offering from Deloitte.

The CPTO will also be tasked with designing new products, operating and technology models, including banking products, fintech vendors and technology stack selection and rationalisation.

Savino has substantial experience leading start-up divisions within larger corporations. He launched T-Mobile Money, a new digital banking service offered by telco giant T-Mobile in the US. He also helped launch a digital bank account aggregator at US-based financial services firm Moven.

(Source: Fintech Futures)