The changing role of the CTO [Q&A]

Between the rise of competition, the changing regulatory landscape, the evolution of AI and the rise of new threat actors, the role of the CTO can be a challenging one.

What characteristics are needed for the role and how can incumbents ensure that it remains relevant? We spoke to Ajay Keni, CTO at OneSpan, to find out.

BN: CTOs can sometimes struggle to keep up with the industry, why is it important to partner closely with the engineering team?

AK: To maximize success, every CTO should work closely with the engineering team. Engineers ensure that the product vision is achieved, and the support of a CTO helps bring that to fruition since the CTO is responsible for the overall technical strategy. CTOs have a pulse on the key initiatives within each department and this enables the CTOs to help articulate to the engineering team -- and executive team -- how the product strategy fits into the company’s larger growth vision, bringing tremendous value through collaboration.

CTOs are the perfect liaison between engineering and other department executives, bridging the gap between the broader product strategy and overarching business goals. A strong CTO helps guide and inspire innovation within the engineering team while ensuring that the company's technological resources are aligned with business and customer needs.

BN: What makes for a successful CTO compared to a successful engineering leader? What attributes and skills are most important, and how do responsibilities differ?

AK: To be a successful CTO in our evolving technology landscape and transition to Web3, a vast skill set is required. For example, CTOs should have a deep technical background and a keen understanding of the technology trends and innovations in the market. As a leader, they should be a realist and understand the value of cross-team collaboration -- outside of just the engineering team. They should also be forward-looking, strategic, and critical thinkers with a strong technology vision.

While the CTO is responsible for thought leadership and technological advancements, engineering heads are in the trenches with the team, elevating both people's success and operation success. Engineering leaders must motivate staff and keep teams and projects on track, bringing strong communication, interpersonal skills, and strategic thinking to the table, along with managing budgets.

Despite skill set overlaps, there are differences between the two roles. CTOs are more indexed in technological vision, mission, and strategy, whereas engineering heads are more indexed in people, process, and product delivery. At OneSpan, I work closely with the management team, helping execute the company’s overarching transformation plan. Engineering leads are more focused on product development, and people and budget management. Engineering leaders are more internal execution focused whereas the CTO has a significant presence in external facing activities. CTOs and engineering leads collaborate to ensure the product aligns with the larger customer and company goals. I've seen first hand how a strong partnership between the two can help bring projects -- and the company -- to the next level, and that continues to be a top priority for me at OneSpan.

BN: How has the role of CTO changed since you first started your career? Do you have any advice for those new to the field?

AK: While technology has evolved incredibly since I first entered the workforce, so has the role of CTO. As new innovations, regulations, and competitor strategies emerge, CTOs now have to stay up to speed on trends, customers' needs, and what will help the company succeed across all facets of the company. Despite technology being at the core of the role, a business mindset is needed to be effective. Being profitable is equally as important as creating innovative technology.

For those new and entering the field, I would advise them to develop relationships across departments, always look to be a strategic partner, and stay up to date on the latest technology trends. Relationships, collaboration, and a deep understanding of the innovations within your space will help fast-track your career and bring you to the next level.

BN: What is your approach to ensuring the platform is innovative and secure and how do you keep up with the constant innovations in the market?

AK: OneSpan helps enterprises deliver secure end-to-end experiences through digital agreements and transactions. OneSpan's Transaction Cloud Platform assembles services from the full portfolio of enterprise-grade solutions, including e-signature, identity verification, authentication, high-assurance virtual collaboration, and secure vaulting used by some of the world’s most trusted and security-conscious organizations. Our philosophy is to be a mission-critical ally to our customers, but this cannot be achieved without security at our core. At OneSpan, we prioritize compliance and seamlessly integrate end-to-end security across all of our solutions to ensure that our customers are protected and secure throughout the entire digital journey. We are firm believers that security and a seamless customer experience can co-exist together, and having strong security capabilities doesn’t mean the experience for the end-user is disrupted.

To stay up to speed on the latest technology trends, I read business and technology news, analyst reports, regulations, and research, and listen to relevant podcasts, to stay current. Networking with peers is a great learning tool as well.

BN: The 2023 Verizon Data Breach report found that the cost per ransomware incident has doubled over the past two years. What are the top security measures you believe enterprises should implement to protect employees, customers, and brand in 2023?

AK: In 2023, there are three critical security measures that every company must implement to protect its ecosystem. First and foremost is identity protection. Identity is the new perimeter. Identity fraud and social engineering attacks are running rampant in our threat environment, putting every individual at organizations at risk. To stay protected, continuous identity verification and authentication should be at the foundation of every company’s digital assets, online interactions, monetary transactions, and more.

Every enterprise should have a robust security awareness program in place as well. Through regular training and real-time updates around threats, the program should focus on areas such as email security protocols, malware recognition and avoidance, and password security.

Lastly, with 71 percent percent of companies worldwide affected by ransomware last year, ransomware is a growing threat to enterprises around the world. Ransomware detection and protection software should be a top priority to implement to protect against threat actors. Not only can it help avoid system breaches and ransomware payouts, but it can help keep company reputations and customer relations on a positive trajectory.

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