Valley Bank CIO Stuart Cook leaves to join start-up True Digital Network as CEO
Stuart Cook has left his position as chief innovation officer (CIO) of Valley National Bank after 11 months to take on the role of chief executive officer (CEO) at Texas-based start-up True Digital Network.
Founded in 2022, True Digital promotes itself as a network designed “only for bankers” that aims to help banks and credit unions “build, use, and adopt technology” through collaboration and enables firms to find and connect with tech vendors based on their specific requirements.
“Our initial focus has been simply to connect bankers with bankers around their vendor experience,” says Cook in announcing his move via LinkedIn.
“Our objective is to take the messiness out of the equation, with the outcome that our industry is way more efficient and more banks and credit unions are able to participate in value creation.”
As his first move as CEO, Cook also announced the launch of the start-up’s new app. Open to all bankers and credit union staff, the app serves as a vendor directory, enabling users to instigate new technologies by searching through verified products and over 300 banking categories.
Furthermore, the app enables users to message other users directly and track how their competition is successfully (or unsuccessfully) embracing the benefits of bank-built technology.
Cook describes his previous experience at Valley Bank, which includes the building and management of its $100 million corporate venture capital (CVC) fund Valley Ventures, as “instrumental in preparing me for the mission of True Digital Network”.