MVB’s New COO/CIO Role Signals a Major Shift in Banking Leadership

FAIRMONT, WV – April 01, 2026 – In a strategic move that underscores a significant evolution in the financial services industry, MVB Financial Corp. has expanded the role of its Chief Information Officer, Michael “Mike” L. Giorgio, to also encompass the duties of Chief Operating Officer. The promotion, creating a dual CIO and COO role, is more than a simple title change; it represents a deliberate fusion of technology and core operations, positioning the bank at the forefront of a major leadership trend.

MVB, the parent company of MVB Bank, announced that Giorgio’s new title of Executive Vice President, Chief Information Officer and Chief Operating Officer, reflects the deep integration of technology across all facets of the organization. This decision highlights a growing recognition within banking that operational excellence and technological innovation are no longer separate pursuits but two sides of the same coin.

“Expanding the scope of Mike Giorgio’s role reflects how deeply technology has become integrated with core operational functions across MVB and the leadership responsibilities Mike has already assumed,” said Larry F. Mazza, President and CEO of MVB Financial and MVB Bank, in a statement. “Because his responsibilities now extend beyond traditional IT leadership and into technology-enabled operational execution, we are adding the title Chief Operating Officer, which appropriately reflects the broader scope.”

A New Blueprint for Banking Leadership

The creation of a combined CIO/COO role at MVB is emblematic of a broader industry shift. For decades, the COO managed the bank's day-to-day engine—loan processing, deposit operations, and branch networks—while the CIO oversaw the technology infrastructure that supported it. Today, that distinction is rapidly dissolving. Digital banking platforms, automated loan processing, and real-time payment systems are not just supported by technology; they are the operation.

This convergence is driven by the relentless pace of digital transformation. To compete with nimble fintech startups and meet escalating customer demands for seamless digital experiences, banks must be faster, more efficient, and more innovative. Aligning technology-dependent functions like digital banking, loan platforms, and enterprise project management under a single executive is designed to improve execution speed, heighten accountability, and drive operational efficiency.

MVB is not alone in recognizing this new reality. Other forward-thinking financial institutions, such as Regions Bank, have also consolidated these functions under a single “Chief Enterprise Operations and Technology Officer.” The logic is clear: when the leader who builds the technology is also responsible for the operational outcomes it produces, strategic alignment is baked into the organizational structure. This integrated approach aims to break down data silos, accelerate the development of new products, and ensure that every technology investment directly serves a core business objective.

Powering a Fintech-Forward Strategy

For MVB Financial, this leadership restructuring is particularly critical given its specialized business model. Over the past several years, MVB has strategically pivoted from a traditional community bank to a tech-forward institution that provides Banking-as-a-Service (BaaS) solutions to a growing roster of fintech, payments, and gaming clients. With over 40 fintech clients, including industry giants like DraftKings and Credit Karma, MVB's operations are exceptionally complex and technology-dependent.

The bank processed an impressive $48 billion in payment volume in 2025, a testament to the scale of its fintech vertical. This focus has yielded strong financial results, with non-interest income from its fintech partnerships contributing significantly to its revenue, which saw 10% year-over-year growth. However, serving as the banking backbone for innovative companies requires not just robust technology but also impeccable operational execution and rigorous risk management.

Placing technology and operations under a unified command is a direct response to these demands. The goal is to ensure that the platforms supporting global payment providers, merchant acquirers, and neo-banks are not only technologically advanced but also operationally flawless and fully compliant with complex regulatory frameworks. Giorgio’s combined role is intended to provide the holistic oversight necessary to manage this high-stakes environment, where the speed of innovation must be matched by the discipline of banking operations.

The Leader for a Converged Role

Michael Giorgio’s extensive and varied background makes him uniquely suited for this integrated leadership position. With over 20 years of experience spanning operations, lending, risk, and technology in both traditional banking and disruptive fintech environments, he possesses a rare blend of expertise. His career path reflects the very convergence his new role embodies.

Prior to joining MVB as CIO in 2023, Giorgio served as CEO of Kraken Bank and Chairman & CEO of SMC Blockchain Labs, giving him firsthand experience in the cryptocurrency and blockchain space. Before that, as Chief Technology Officer at Metropolitan Commercial Bank, he architected solutions for a digital currency and prepaid card clientele. At Laurel Road, a national lending company, he led digital-first transformation efforts, including the rollout of mobile banking and online loan applications.

This journey through both established financial institutions and fintech startups has provided him with a deep understanding of how to leverage technology to drive operational change. His M.B.A. from Quinnipiac University, coupled with a B.S. in Computer Science and a Certified Information Systems Security Professional (CISSP) certification, rounds out a profile that is part business strategist, part technologist, and part security expert—precisely the combination required to navigate the modern financial landscape.

Navigating the Path to Integration

While the strategic rationale for combining the CIO and COO roles is compelling, the path to full integration is not without challenges. Like many established banks, MVB must contend with legacy systems that can be complex and costly to modernize. Integrating new, agile technologies with older infrastructure requires careful planning and significant investment to avoid operational disruptions.

Furthermore, merging historically separate departments can create cultural friction. Success will depend on effective change management, fostering a collaborative mindset, and potentially upskilling employees to work in new, cross-functional ways. The breadth of the combined role also presents a risk; the leader must balance strategic technology initiatives with the granular details of daily operations, ensuring neither is neglected.

However, the potential rewards are substantial. A successfully integrated tech-ops function can create a powerful engine for growth, enabling MVB to enhance its BaaS offerings, attract new fintech partners, and deliver a superior customer experience. By placing a leader with Giorgio's unique background at the helm, MVB is making a calculated bet that this unified approach will provide the agility and efficiency needed to solidify its position as a key innovator in the financial sector.