# My hero Jay Dvivedi, the uber-CIO of Shinsei Bank

- Author: Joichi Ito
- Date: 2003-04-11T22:49:19Z


Took Reid to go see Jay Dvivedi, the Chief Information Officer of Shinsei Bank yesterday. Reid is one of the coolest entrepreneurs that I know and as the former COO of Paypal, also one of the few people I know who gets off talking about payment systems with me. Jay is the smartest CIO I know and is ALWAY extremely inspiring when I see him. When I first met him he was talking about how he was going to revolutionize Shinsei Bank (the Long Term Credit Bank after it was acquired by Ripplewood.) Three years later, he has done everything he promised to do and has built maybe the most technically advanced bank in the world and the only major bank in Japan that is full IP and open systems. We got a tour of his the facility and it was amazing. EVERYTHING was IP: video, phones, everything. He uses public Internet to connect a worldwide network of vendors and nodes in a seamless network that TOTALLY works. Shinsei Bank is living proof of the end-to-end principle. He is now beginning to consult for other companies selling what he has developed at Shinsei Bank.

Jay's boss, Mr. Yashiro who used to run Citibank in Japan where Jay used to work is also an amazing model CEO. During our sessions at the Association of Corporate Executives committee on IT Governance that I co-chair, I talked about Yashiro-san and Jay and their relationship quite a bit as a model. If only Japanese CEO's knew as much about the importance of IT as Yashiro-san and if only there were CIO's like Jay, we could be doing so much better in Japan. In addition to GDP, we would have profits. ;-) Three years ago, when Jun and I toured the banks and met the bank heads, Yashiro-san was the only person who bragged about home much money IT was saving him, instead of how much money he was spending on IT...





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