Zions' revamped tech leadership team eyes AI, stablecoins

Core Insights - Zions Bancorp is undergoing a leadership change in its technology team, with the departure of Jennifer Smith, the chief technology and operations officer, whose responsibilities will be divided between two other executives [1] - The bank's modernization of its core systems, completed in 2024, is seen as a competitive advantage in the face of rapid technological changes in the banking industry [8][10] Technology Strategy - Zions is adopting a cautious approach to artificial intelligence (AI) and stablecoins, focusing on governance and standards for AI integration [2][3] - The bank reported an efficiency ratio of 62.6% for full-year 2025, down from 64.2% the previous year, indicating improved expense management relative to revenue [4] - Zions is currently using AI for specific workflows, such as fraud detection and processing unstructured documents, which has streamlined operations for account openings and loan origination [5][7] Future Plans - Zions plans to experiment with stablecoins and tokenized deposits later this year, leveraging its modernized core systems for these initiatives [8][12] - The bank is collaborating with Tata Consultancy Services to utilize software for tokenized deposits, with plans to implement it in the innovation lab within the next one to two months [11]