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Excellence in Technology

Nick Lofaro of Guaranty Bank is the 2019 Excellence in Technology IT Executive of the Year Award Winner

Guaranty Bank customers can now enjoy conveniences such as drive-up video banking thanks to Nick Lofaro, Vice President and Chief Technology Officer. This plus many other technological advancements landed Lofaro with the title of IT Executive of the Year.

By Juliana Goodwin

May 2019

Nick Lofaro, Vice President and Chief Technology Officer at Guaranty Bank and the IT Executive of the Year
Photo by Brandon AlmsIT Executive of the Year Award Winner: Nick Lofaro Purchase Photo

These days, banking technology is translating into improved convenience and service for customers and employees, and Nick Lofaro is leading that charge at Guaranty Bank. Lofaro, Vice President and Chief Technology Officer at Guaranty Bank, joined the company in 2014. Since then, he’s helped implement a variety of technologies and products, such as the Video Banking Machine (VBM). “It’s a method for us to provide better service and added convenience to our customers,” Lofaro says. “Customers can drive up to select branches for a very similar experience to that of a lobby or drive-up. The customer also has the ability to use the VBM as an ATM if they choose. Should they choose the option of a live teller during service hours, they are able to perform a variety of transactions such as cash a check, make a deposit, etc. Almost anything you can do on the teller line can be done from the comfort of your car.” Customers are no longer limited to lobby or drive-up hours. 

The first VBM was launched at the Battlefield Banking Center in 2017. “We have six on the ground with plans to expand that footprint in the near future,” Lofaro says.

Aside from his work at Guaranty, Lofaro is also an active participant on the Association of Information Technology Profession Board and serves at the national level as a member of the CompTia Executive Council for AITP. These positions help him understand where the bank currently stands in the industry and what’s coming down the pipeline.

RUNNERS UP  //  Shannon McMurtrey, Cart32  •  Mark Whisler, Added Innovation

NAILED IT

“Landing a job at Buffer has given me so many opportunities. We have won awards for iOS apps, met Apple engineers—it has opened so many doors for me.”—Nick Lofaro, Vice President and Chief Technology Officer at Guaranty Bank

FAILED IT

“Coming out of college I had one interview with a company before I had graduated. It was going great; I knew a lot of people there; I went in there confident. We hit it off, and then I took this computer quiz, and it was over a technology called SQL, and all through school, I was terrible at it. I did awful at it.”—Nick Lofaro, Vice President and Chief Technology Officer at Guaranty Bank

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