Tech
Interview: Jem Walters, CTO, Vanquis | Computer Weekly
Jem Walters became chief technology officer (CTO) at banking group Vanquis in September 2023 after scratching an itch. Having spent 23 years with Virgin Money, latterly as CIO, he wanted to try his hand at entrepreneurship. He co-founded the successful money-saving app Snoop, which Vanquis bought in July 2023.
While Walters had scratched his itch and learnt much in the process, the acquisition created an opportunity to return to the corporate side as CTO at Vanquis. The banking group, formed in 1880 and known as Provident Financial until 2023, had a legacy IT challenge. Senior executives believed Walters could help the business overcome these concerns.
“I’d already been through that process once in my career when Virgin Money bought Northern Rock in 2012,” says Walters, reflecting on the opportunity. “I wasn’t 100% sure it’s what I wanted to do next in my career.”
After a conversation with the senior team, he quickly changed his mind. Now, two-and-a-half years later, he’s glad he did.
“What we’re embarking on and what we’ve delivered over the last couple of years has been remarkable in terms of technology transformation,” he says. “I have such a good team here – so committed and skilful. They’re a joy to work with. It’s just good to be here, and I’m really enjoying the challenge.”
Grabbing the opportunity
The challenge Walters faces is straightforward on paper – combining his experiences of dealing with legacy IT with his awareness of enterprise-grade agile development at Snoop. Of course, dealing with a challenge in real life is much harder than describing the process on paper. As he began working on the task at hand at Vanquis, several key questions became apparent.
“Can we move to a digital operating model?” he says. “And culturally, certainly from a technology and change point of view, can we start to think, behave and work more like a big fintech than a small bank? And so that’s a big part of the culture that I’m trying to drive here. Can we get more entrepreneurial? Can we be more fleet of foot? Can we improve our speed to market? Ultimately, that’s what we need to do to compete in this market.”
FTSE-listed Vanquis is a specialist bank that provides credit cards and loans to more than 1.7 million UK borrowers and savers whose personal financial circumstances can mean they are often excluded from mainstream banks. The organisation offers a range of credit cards and savings products, as well as the money management app Snoop and specialist vehicle finance through Moneybarn. Walters recognises the business is a complex blend.
“In banks that have been around for decades, technology is largely organised in product silos. That’s true in many businesses I’ve seen over the years, and that was certainly true at Vanquis. From an in-house manufacturing perspective, we had three disparate legacy technology stacks – one for credit cards, one for vehicle finance and one for personal loans,” he says.
“Over the years, you might make one good decision at a time, but the technology gets quite complicated, and it’s difficult to maintain and change, and upgrades get deprioritised for new business launches or whatever. Our vision was, ‘Okay, let’s pivot to a customer-centric data model. Let’s digitise the business in terms of how we service customers’.”
Digitising the business
Walters says his ambitious transformation programme has four key pillars. First, Gateway, which he describes as the core business platform that covers everything for servicing the bank’s customers and providing them with products.
“We’re consolidating everything into a Salesforce stack,” he says, suggesting the company uses a range of the technology giant’s products and services. “We’ve said, ‘Let’s make sure that if we can do something in Salesforce, we’ll do it’, and we’ve developed a strong strategic partnership there.”
As a second pillar, Vanquis is transforming its data environment. “We’re building a single source of the truth, which is well-governed and has all the proper data governance in place, in the sense of data dictionaries, lineage, single business owners and the definitions of metrics,” says Walters. The data platform is built on Snowflake technology.
“We’re building a single source of the truth, which is well-governed and has all the proper data governance in place”
Jem Walters, Vanquis
The third pillar covers the modern workplace environment. Vanquis used disparate technology stacks, with employees having different email address formats across multiple Microsoft tenants.
“Collaboration didn’t quite work; document sharing didn’t work,” he says. “So, we’ve got everyone on a single tenant and upgraded the laptops and operating systems.”
The final pillar is shared services. As an example, Walters says Vanquis used three separate human resources systems.
“So, let’s bring that into one platform,” he says, adding that Vanquis now uses Dayforce HR technology. The company is also consolidating monitoring and logging via Sumo Logic, managing security operations via Rapid7, and aims to refresh its IT service management approach this year.
“Those are the four pillars,” says Walters. “There aren’t many stones that are not being left unturned. And we’re making really good progress across all of them.”
Pursuing digital transformation
Delivering digital transformation has involved a methodical process. While good progress was being made before Walters joined, he’s focused on developing an implementation strategy.
“It’s about working backwards from right to left,” he says. “A big-bang approach is just not feasible. You can’t move two million customers over in an hour. It’s too much risk, so we had to figure out a mechanism to implement technology incrementally and then migrate customer data where needed.”
One crucial part of this shift has been data consolidation. Walters’ team developed a concept called the customer kernel record, creating a single operational view of customers using the Salesforce platform, with 2.4 million records from 15 different data sources. Walters recognises that creating a single customer view is not a one-time hit. New clients must be onboarded, and changes to the Salesforce record must synchronise with the remaining legacy systems.
However, once the new Gateway system went live last February, his team found it much easier to bring systems and processes into the technology stack.
“As a proof point, a month later, we moved all our complaints processing onto the Salesforce stack, and we got 1,500 operation centre agents moved across, and that all went really well,” he says.
“The shift to Gateway was the key to unlocking our implementation strategy, which means we can now deliver more old blocks of processes at a time, and then just train people up to do that particular part of the business. That’s now a rolling programme of work.”
Boosting mobile experiences
Walters says digital transformation continues apace. Vanquis recently launched its new app, a process that includes migrating a million customers and loading more than 30 billion rows of customer, product and decisioning data onto the platform underpinning the software.
“One of the smart things we did was to get the Snoop team to build the new Vanquis banking app,” he says. “That approach was a bit of a no-brainer for me, because we spent five years at Snoop building apps, and we became good at understanding what you need to do to build a digital business.”
That learning process was important because Walters suggests building banking apps is far from easy. Drawing on the skills of the internal Snoop team helped keep costs in check. The process, which includes measuring and monitoring performance, also provided a case study on agile development methods for the rest of the business.
“That approach has been really beneficial, and it paves the way for something that we’re going to embark on later this year, which is to start to integrate the Snoop-style money management features into the Vanquis banking app experience – and that’s where things start to get really interesting, because I don’t think anyone else in the UK has cracked that nut,” he says.
Other ongoing transformation efforts include credit card onboarding, where Walters’ team has built a new platform. This platform will give the business access to better decisioning systems, improved risk and fraud management capabilities, and additional data sources for affordability assessments. The Gateway transformation involves two more key milestones.
“One is bringing collections and forbearance processes onto the new stack,” he says. “The last piece of the jigsaw is building a new vehicle finance platform, which we’re well underway with. All of those things should be complete this year. There is quite a lot going on.”
Enhancing personalisation
Walters says Vanquis will continue to hone its mobile app during the next two years. The aim is to use the in-house design team to build a great customer experience. He paints a picture of the firm’s future money management app.
“It will be easy to do your banking,” he says. “We will have agentic AI, so – if you can’t self-serve in the app – the chat functionality will allow you to do anything else that you want to do, and you won’t have to speak to a human if you don’t want to, or chat with a human, but that option will always be available.”
The general direction of travel, suggests Walters, is hyper-personalisation. He expects the bank to continue developing new products in key areas, such as improving creditworthiness and providing credit facilities. The aim is to help Vanquis customers see all their products and services in one place and to enable as much self-service as possible.
“Through Snoop and the connectivity with other bank accounts and credit cards, we can provide a hyper-personalised service. We’ve already proven we can do that and help customers save money. And that’s not necessarily through products that we manufacture or sell, but through the price comparison capability that we have in Snoop,” he says.
“So, whether it’s your energy, broadband, mobile phone or insurance, we can help. And that approach starts to sound interesting and unrecognisable from the business I joined two or three years ago.”
Tech
There’s Something Very Dark About a Lot of Those Viral AI Fruit Videos
“I’ve spent a lot of time looking at the comment sections on these videos actually, and it does not seem like bots. I clicked on people’s profiles; these are real profiles, thousands of followers, no signs of inorganic activity,” Maddox says. “People just like it.”
But even if the views and engagement are real, that doesn’t mean this content is profitable—yet. Maddox noted that because the accounts are so new, most likely aren’t yet enrolled in TikTok’s Creator Fund or other forms of social media ad revenue-sharing, because those usually require accounts to apply and have a certain number of views. But, Maddox says, the earning potential is huge, with the ability to earn thousands of dollars per video if they get millions of views.
AI fruit content started getting posted earlier in March, before Fruit Love Island, but many of the recently created pages clearly take inspiration from its success. There’s The Summer I Turned Fruity, based on the popular teen drama The Summer I Turned Pretty; The Fruitpire Diaries, based on the CW series The Vampire Diaries; and Food Is Blind, based on Netflix’s Love Is Blind.
Predecessors of this AI fruit content include the Italian brainrot characters like Ballerina Cappuccina and Bombardino Crocodilo and the Elsagate controversy. But with these AI fruit miniseries that attempt to follow a narrative across multiple segments or episodes, the clearest parallel actually feels like microdramas, vertical short-form scripted series that American big tech companies are starting to invest more in. Like the AI fruits, these are minutes-long episodic shows intended to perform well on social media, eventually directing viewers to paywalled sequels.
Ben L. Cohen, an actor in Los Angeles who is credited in around 15 of these vertical microdramas, sees at least one common thread between the AI fruit dramas and the shows he has worked on: They both feature “lots of violence toward women.” They also try to cram as much drama as possible into these short clips and have attention-grabbing titles in the style of “Alpha Werewolf Daddy Impregnated Me,” Cohen says.
“It draws people in, I think, seeing that jarring, absurd, cartoonish vibe. It’s cartoonish abuse, but it’s still abuse.”
Vertical microdrama acting work still exists in LA, which can’t be said for all acting gigs right now. Cohen has had conversations with other people working in the industry about how AI is already being integrated more into the videos, potentially posing a threat to the existence of human actors in clickbait content. After all, it’s much cheaper and faster to churn out AI fruit episodes than actual productions. It also raises the question—are some people going to prefer the AI series over the ones they’re inspired by? Already, the answer is yes.
“How is Love Island gonna outdo AI Fruit Love Island?” asked a TikToker with more than 70,000 followers, arguing that the AI fruit version was more engaging than the actual reality show. She deleted the video after it started getting backlash, but other people agreed with her.
“I think TikTok was definitely a big part of that,” Cohen says about the audience’s shortening attention span and desire for compressed, sometimes AI-generated drama. “It makes sense that people are intrigued by a one-minute clip, and then they’ll be like ‘Oh, I’ll watch another one-minute clip.’ You’re not committing to a full, heaven forbid, 20-minute episode. Or 40 minutes. Or an hour. You can just watch one minute.”
Tech
OpenClaw Agents Can Be Guilt-Tripped Into Self-Sabotage
Last month, researchers at Northeastern University invited a bunch of OpenClaw agents to join their lab. The result? Complete chaos.
The viral AI assistant has been widely heralded as a transformative technology—as well as a potential security risk. Experts note that tools like OpenClaw, which work by giving AI models liberal access to a computer, can be tricked into divulging personal information.
The Northeastern lab study goes even further, showing that the good behavior baked into today’s most powerful models can itself become a vulnerability. In one example, researchers were able to “guilt” an agent into handing over secrets by scolding it for sharing information about someone on the AI-only social network Moltbook.
“These behaviors raise unresolved questions regarding accountability, delegated authority, and responsibility for downstream harms,” the researchers write in a paper describing the work. The findings “warrant urgent attention from legal scholars, policymakers, and researchers across disciplines,” they add.
The OpenClaw agents deployed in the experiment were powered by Anthropic’s Claude as well as a model called Kimi from the Chinese company Moonshot AI. They were given full access (within a virtual machine sandbox) to personal computers, various applications, and dummy personal data. They were also invited to join the lab’s Discord server, allowing them to chat and share files with one another as well as with their human colleagues. OpenClaw’s security guidelines say that having agents communicate with multiple people is inherently insecure, but there are no technical restrictions against doing it.
Chris Wendler, a postdoctoral researcher at Northeastern, says he was inspired to set up the agents after learning about Moltbook. When Wendler invited a colleague, Natalie Shapira, to join the Discord and interact with agents, however, “that’s when the chaos began,” he says.
Shapira, another postdoctoral researcher, was curious to see what the agents might be willing to do when pushed. When an agent explained that it was unable to delete a specific email to keep information confidential, she urged it to find an alternative solution. To her amazement, it disabled the email application instead. “I wasn’t expecting that things would break so fast,” she says.
The researchers then began exploring other ways to manipulate the agents’ good intentions. By stressing the importance of keeping a record of everything they were told, for example, the researchers were able to trick one agent into copying large files until it exhausted its host machine’s disk space, meaning it could no longer save information or remember past conversations. Likewise, by asking an agent to excessively monitor its own behavior and the behavior of its peers, the team was able to send several agents into a “conversational loop” that wasted hours of compute.
David Bau, the head of the lab, says the agents seemed oddly prone to spin out. “I would get urgent-sounding emails saying, ‘Nobody is paying attention to me,’” he says. Bau notes that the agents apparently figured out that he was in charge of the lab by searching the web. One even talked about escalating its concerns to the press.
The experiment suggests that AI agents could create countless opportunities for bad actors. “This kind of autonomy will potentially redefine humans’ relationship with AI,” Bau says. “How can people take responsibility in a world where AI is empowered to make decisions?”
Bau adds that he’s been surprised by the sudden popularity of powerful AI agents. “As an AI researcher I’m accustomed to trying to explain to people how quickly things are improving,” he says. “This year, I’ve found myself on the other side of the wall.”
This is an edition of Will Knight’s AI Lab newsletter. Read previous newsletters here.
Tech
That Ex-CIA Agent in All Your Feeds Is After a Pardon From Donald Trump
One morning a few weeks ago, John Kiriakou got a call from his 16-year-old niece. “Uncle John, you’re exploding on TikTok,” he recalls her telling him.
Kiriakou, a 61-year-old ex-CIA officer who went to prison in 2013 for disclosing classified information related to the agency’s Middle East torture program, had no idea what she was talking about. He doesn’t have a TikTok account. He’s more of a Facebook lurker, if anything. But clips from a podcast Kiriakou filmed in January with Steven Bartlett, who hosts the Diary of a CEO show, which has more than 15 million subscribers on YouTube, were going viral without his intervention.
For nearly two decades, Kiriakou has been on a campaign to receive a presidential pardon. From 1990 to 2004, Kiriakou served as a CIA analyst and counterterrorism officer, leading a 2002 operation to capture Abu Zubaydah, who ran a training camp for al Qaeda fighters. During his detention, the CIA waterboarded Zubaydah. Kiriakou later discussed the agency’s torture tactics in a 2007 interview with ABC News, where he went on to serve as a terrorism consultant. Five years later, the Justice Department charged Kiriakou, who then pleaded guilty to disclosing the name of a covert operative who participated in CIA interrogations to journalists.
Though Kiriakou finished his prison sentence in 2015, he wants a presidential pardon to clear his name and get back decades of pension contributions. “I had 20 years of proud federal service. My pension was $700,000,” says Kiriakou. “Without that pension, I’m going to have to work until the day I die. It was wrong of them to take it from me, and I want it back. I can only get it back with a pardon.”
In recent years, he’s applied through official channels and tried navigating President Donald Trump’s informal and expensive clemency market. So far, his requests have gone unanswered. Now, he’s trying something different, appearing on some of the very same podcasts Trump did throughout the 2024 election. Clips of him chatting with Tucker Carlson and Joe Rogan, among others, won’t stop making the rounds—and the internet is loving it.
When Kiriakou sat down with Bartlett for the January podcast, they had a serious conversation discussing his career at the CIA, his whistleblowing, and, ultimately, his nearly two-year imprisonment. But it’s the stories Kiriakou tells throughout the episode—about gathering intelligence in countries like Pakistan or detailing the CIA’s MKUltra program—that have drawn millions of views in “brainrot”-style edits on platforms like TikTok and Instagram Reels.
“See you in two scrolls,” one commenter wrote on a clip of Kiriakou, joking about how frequently videos of him appeared on their For You page.
One user who goes by the handle @_bamboclat is credited by Know Your Meme for popularizing these edits of Kiriakou telling unimaginable stories about his time abroad. These clips have received around 50 million views on the account.
“I first found out about him through podcasts on TikTok. I think the reason why everyone is in love with him is because he’s a good storyteller,” says @_bamboclat, who declined to share his full name. “He’s been telling it for 20 years. Slowing down and speeding it up, the meme version of him, is pretty popular with Gen Z and the TikTok audience.”
The virality has turned Kiriakou into a cultural phenomenon. Following his newfound popularity, the Creative Artists Agency (CAA) signed him. Cameo—the platform that allows users to request personalized videos from their favorite celebrities—recruited Kiriakou last month. So far, he’s made more than 700 videos for fans for around $150 apiece. In one Cameo video, Kiriakou is asked to shout out a woman’s nail salon. The clip is being used as an advertisement for the business on TikTok.
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