Old National Bank brings technology together with the power of human connection
For 190 years, Old National Bancorp (NASDAQ: ONB) has strengthened and supported the communities that they call home. The largest financial services holding company headquartered in Indiana, Old National has the power and stability of a publicly traded entity and the DNA and heart of a community bank.
Established on the banks of the Ohio River in 1834, in what would eventually become Evansville, today’s Old National serves the heart of the nation. With approximately $48 billion in assets, Old National is the sixth largest commercial bank headquartered in the Midwest.
They’ve reached this point by exceeding client expectations through the best and worst of times, staying on the leading edge of progress. In a digital world, where customer needs are constantly changing and cybersecurity challenges have never been greater, Old National is leveraging technology and insights to stay strong and secure.
As Chief Information Security Officer for the institution, Kevin Novak and his team are responsible for protecting the confidentiality, integrity, and availability of information assets and operational processes needed to service Old National’s customers.
“My team sets control expectations for all ONB partners and third parties, for the protection of information assets and business processes across the organization,” he recently told BOSS. “They develop the policies and guidelines that all third parties and employees must follow, establishing the controls that must be implemented and maintained across the organization’s technological footprint. From a cyber perspective, they establish security control requirements for how employees and third parties work with clients and each other to protect the best interests of the organization and their customers.
“As a second line of defense, my team also ensures that our prescribed policies and standards are adequately understood by responsible stakeholders and that security controls have been properly implemented and are effectively serving their intended purpose,” he added.
Old National’s primary goal is to help clients achieve their personal and financial goals. To this end, they continually review and adapt their technological footprint. “Like other financial institutions across the globe, we’re either implementing or considering technologies that help improve operational efficiencies or help better serve our clients’ needs,” he said.
The advancements include foundational technologies such as those needed to better manage access, monitor for cyber threats, and to more holistically service clients. These critical basics also include processes and technologies that protect the integrity of data backups, improve incident response, more seamlessly secure client access to online resources, and protect data.
Innovative technologies in their arsenal have enabled them to manage their environment whether in-house through their own data centers, at third party hosted facilities, or in the public cloud. Significant investments in artificial intelligence and advanced data analytics are keeping ONB on the leading edge of service. “The most important aspects of all these initiatives are improving the client experience and enhancing security,” Novak stressed.
Cybersecurity is embedded into all aspects of how the bank conducts business. “From how we engage with clients, to how we manage operations, to how we work with third parties and partners, cybersecurity is in the forefront of our minds when considering the strategic direction of the firm,” he said. “From a cyber perspective, I’ve never seen such outstanding support both top down and bottom up. Everyone understands the issue, and everyone accepts that they play a role in protecting the institution and its clients.”
Building infrastructure for the bank’s digital future is an essential part of the work done by Novak and his teams, but there are near-universal challenges that must be faced when making the commitment to be future forward. Keeping on the innovation track and staying current with a continually evolving landscape of product and security expectations from clients, regulators, and shareholders is an obstacle on an industry level, as is buffeting against the sector headwinds facing all financial service firms.
“Maintaining our knowledge of and protection from the continually evolving cyber threat landscape, and ensuring that the confidentiality, integrity, and availability of information and operational processes is maintained is absolutely paramount,” Novak said. “In light of the negative market supplies for qualified technology and cybersecurity staff, security teams are challenged to ensure that we maintain quality talent, but our strong culture goes a long way to help in this area.”
ONB’s strong service-oriented culture is steeped in community and caring, which is a draw for new employees. “Our team members understand the importance of what we do and that their actions and decisions impact our clients, teammates, and shareholders,” he noted. That team-centric philosophy is at the root of the bank’s success. “There are no silos; everyone is mission-oriented around helping our clients regardless of their specific roles within the company.”
“Our commitment to our clients, employees, and the community at large makes us a strong competitor in any arena. We are committed to innovation and product development, and our commitment to doing the right thing and managing sustainably and responsibly helps ensure for our longevity as an institution focused first on helping ensure for our clients’ personal and financial wellbeing,” Novak concluded.
“Finally, it’s an awesome place to work. There’s such an amazing culture of caring. I wake up every day and look forward to coming into the office. It’s obvious why we have such outstanding tenure within the company.”
It’s also obvious why ONB has thrived for nearly two centuries: care, commitment, and stepping up to meet whatever comes next.
Old National Bancorp (NASDAQ: ONB) is the largest financial services holding company headquartered in Indiana. With approximately $45.7 billion in total assets, we rank among the top 35 banking companies in the U.S. Headquartered in Evansville, Ind., and Chicago, Old National Bancorp has financial centers in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota and Wisconsin.
Since our founding in Evansville, Ind., in 1834, we have focused on community banking by building long-term, highly valued partnerships with our clients. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investments and brokerage services.
For more information and financial data, please visit Investor Relations at oldnational.com.
One Main Street
Evansville, IN 47705