Discover Forms New Internal Data and Analytics Organization
Fintech-Like DNA Unit to Advance Data-Driven Business Decisions; Effort Will Accelerate Platform and Talent Sharing
Discover Financial Services, a digital bank and payments provider, announced the formation of a new Data and Analytics (DNA) organization within the company and named newly promoted Executive Vice President Keith Toney as Chief Data and Analytics Officer to lead the unit. Toney joins Discover’s Executive Committee and reports directly to CEO and President Roger Hochschild.
“Our investment in DNA will furnish us with more insights and solutions that go to the heart of our goal of providing an extraordinary customer experience through our customer service and products.”
“This leading-edge move elevates the critical importance of DNA throughout the organization. The market demands greater business value from our data-driven decision-making across all of Discover’s lines of business and functional areas,” Hochschild said. “Our investment in DNA will furnish us with more insights and solutions that go to the heart of our goal of providing an extraordinary customer experience through our customer service and products.”
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The new unit represents Discover’s commitment to technical advancement in financial services with an emphasis on customer engagement and marketing technologies. It combines several existing functions, such as analytics, data engineering, data science, enterprise data management and enterprise decision platforms.
“These are exciting times to work in technology at Discover, and I am thankful for the support of the company to build an organization that adds business value and brings more great talent to our doors,” Toney said. “Discover’s DNA group will foster a fintech-like delivery culture that builds unique business and advanced analytics, capitalizes on artificial intelligence and machine learning, and integrates effective data and decision engineering. We’re taking the traditional corporate constraints off of our teams and letting them explore new data-centric business solutions.”
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Toney joined Discover in December 2019 as Chief Data Officer, bringing with him more than 20 years of information technology experience in financial services and analytics. He champions the Greenhouse engineering approach to unlock value through accelerated analytics in partnership between Discover’s credit card issuing, consumer banking and global payments business units. Toney previously worked for organizations such as LexisNexis; Ernst & Young, LLP; Connexion Point, LLC; and Hartford Financial Services. He earned bachelor and master of science degrees in mathematics from Ohio State University.