Discover Financial Services CIO On Innovation And FinTech’s Future

Jason Strle joined Executive Vice President and Chief Information Officer of Discover Financial Services in July of 2023, bringing a deep industry background, having spent nearly 20 years with Wells Fargo and JPMorgan Chase & Co. He was excited by many of the unique attributes of Discover’s business, including the opportunity to work for what he refers to as “the original fintech company.” He noted, “Discover has been a direct-to-consumer business from the beginning,” a model that predates the mobile-first aspirations of modern-day financial firms. Additionally, Discover’s legacy as a consumer-centric organization gives it an edge in terms of customer insights and engagement.

Moreover, Discover’s payments network—one of only four major networks, alongside Visa, Mastercard, and American Express—provides a critical advantage in both scale and customer interaction. Strle emphasized, “We can see how customers interact with us directly, giving us unique opportunities to deliver personalized services and build strong relationships.” He described Discover’s customer relationships as deeply affectionate. “We describe this as a loving relationship, and it’s not hyperbole,” he said with pride, “It’s based on our touchpoints, the quality of our service, and our focus on rewards that make our products easy to recommend to family and friends.”

Navigating Uncertainty Amid the Capital One Acquisition

The pending acquisition of Discover by Capital One looms large over the conversation, though it has not yet passed regulatory scrutiny. Strle remains optimistic about the potential benefits of the merger. “In financial services and technology, there are very few companies better to join than Capital One,” he said. However, he acknowledges that the period of uncertainty can be challenging for leadership. “Even before regulatory approval, there’s angst and uncertainty in the organization. But we’ve taken that on, keeping people engaged and ensuring we continue delivering the best for Discover’s customers.”

This dynamic environment serves as a test of leadership for Strle and his team. “The key,” he noted, “is to keep growing as leaders, staying focused on serving our customers, and preparing for the future—whether as part of Capital One or [not].”

A Paradigm Shift for AI, Risk Management and Compliance

Strle identifies risk management as a cornerstone of Discover’s strategy, noting that the company operates in a heavily regulated environment where operational, financial, and credit risks must be managed meticulously. However, rather than viewing regulation as a burden, Strle sees it as “ripe for innovation and differentiation.”

He points out that many financial institutions handle regulatory compliance through manual processes,…