Michael Wichmann | Senior Vice President, Senior Director, Chief of Staff Security and Fraud
Wintrust Financial Corporation

Michael Wichmann is a seasoned leader with deep expertise in information security, technology, and management consulting within the financial services industry. As SVP, Senior Director at Wintrust Financial, a $70 billion publicly traded financial services company, he plays a critical role in protecting the organization and its customers from increasingly sophisticated cyber threats. His strategic efforts contributed to Wintrust being ranked by Forbes as the #6 most cybersecure bank in 2024, demonstrating his dedication to fostering innovation and resilience in the face of evolving challenges. With a passion for solving complex problems, Michael specializes in integrating emerging technologies into robust information security strategies that safeguard the integrity of financial systems. His expertise addresses risks related to AI, identity management, digital transactions, and advanced security frameworks, ensuring organizations remain adaptable and secure. As a recognized thought leader, author, and speaker, Michael engages with industry audiences to share actionable insights and spearhead meaningful discussions on the future of information security. His forward-thinking approach and ability to anticipate trends have positioned him as a trusted authority in information security within the financial services industry. Michael’s unwavering commitment to advancing the security and trustworthiness of financial systems reflects his broader vision: creating a safer, more resilient digital ecosystem for businesses and individuals alike.

Appearances:

Identity Week America - Day 1 @ 11:10

Financial institutions already don’t trust you, maybe that’s why we’re ahead?

For financial services, the status of consumer identity is advanced but under stress. Banks and other financial institutions are no longer treating identity as only a login function. It now spans onboarding, KYC/CDD, fraud prevention, device binding, ongoing authentication, transaction risk, and recovery. Federal guidance expects financial institutions to use risk-based authentication and access controls, while the Federal Reserve’s more recent commentary shows that institutions are moving from physical-document-heavy onboarding toward more digital, layered, and signal-rich models that include device intelligence, biometrics, and multiple risk signals. So let’s talk about Customer On-Boarding - it’s already expensive to get them, and more complicated to authenticate them.

Michael Wichmann, Senior Vice President, Senior Director, Chief of Staff Security and Fraud, Wintrust Financial Corporation

Identity Week America - Day 1 @ 13:40

Panel: Reviewing best practices to prevent rising fraud risks in financial services

Review trends in identity theft and fraud, their impact on individuals, and how to educate and protect consumers effectively
How can you effectively balance friction and risk in authentication processes. Which of these two is most pertinent to consumers?
Is there a one-size fits all V&A approach for consumers and employees or does each subsect need different processes?
What current initiatives are being implemented to improve the detection of fraud across the US?
Assess the role of government entities, telcos, and private sector commpanies in implementing effective V&A systems

Moderator: John Wiethorn, Head of Financial Crime Compliance & AML/BSA Officer, Gusto