Board Level CIO | episode 332

Brad Strock, Chief Information Officer of PayPal

March 12, 2018

Among other topics, Brad discussed the following issues with Metis Strategy:

  • An overview of PayPal’s business, as well as Brad’s purview as CIO
  • PayPal’s transformation into a more customer-centric company, such as giving customers more choices of funding vehicles
  • How PayPal has successfully navigated the shift to mobile, resulting in a 50 percent increase in mobile payment volume in 2017
  • The top priorities that Brad is focused on, including security, stability, strategically enabling the company’s business strategy, and improving the company’s ability to effectively collaborate
  • Brad’s experience going from Bank of America, a traditional finance organization, to PayPal, one of the first digitally native companies in the finance space
  • Brad’s career path, including his path from engineer to finance industry to technology executive
  • Eye on the Trends: financial inclusion of the over 2 billion people globally without financial services, AI/ML/process robotics

Brad is the CIO of PayPal, a Fortune 300 company that is transforming the world of global payments, commerce, and how individuals access financial services. As CIO, Brad is responsible for contributing to PayPal’s ten year revenue growth rate, leading the transformation of technology functions for PayPal’s global operations, and transforming how technology can enable a large global workforce to operate with the speed and flexibility of a startup. Brad also led PayPal’s IT separation from eBay, successfully completing the effort in less than 9 months despite outside expert estimates of two years. Brad leads a team of over 1,400 in providing both IT functions and product development for operations that support a global enterprise operating in over 200 markets, 24 languages, and 65 locations.

Prior to PayPal, Brad held several senior executive roles at Bank of America, including leading the Next Generation Payments and Commerce team. Prior to Bank of America, Brad led the creation of a new rewards platform at JP Morgan Chase that has delivered innovative new credit card products propelling growth. Brad’s early career spanned a wide range of strategy and financial roles including M&A work, turnarounds, and strategic planning roles.

Brad received a Bachelor of Science degree in Mechanical Engineering from Purdue University, as well as an MBA from Purdue’s Krannert School of Management.

Brad holds several patents, is a frequent speaker at business and technology forums, and has authored numerous articles on innovation. In 2018, Brad joined the Board of Elevate.

I recently caught up with Brad by phone from his office in San Jose, California, and our conversation covered World Class IT Principle Three, Product and Portfolio Management, as Brad discussed how he prioritizes initiatives across the themes of security, stability, and strategic initiatives to enable the company’s business strategy; and Principle Five, External Partnerships, as Brad shared how he collaborates with customers to create a tight feedback loop for product improvements. We also discussed PayPal’s successful transition to mobile, Brad’s career path, among other topics.

The World Class IT principles in yellow were the focus of this interview

  • 01 1- People
  • 02 2- Infrastructure
  • 03 3- Project and Portfolio Management
  • 04 4- IT & Business Partnership
  • 05 5- External Partnerships

From strategy to implementation

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