The Bank of the Future: a Tech Company

Quickly making a new user interface for an online banking product – is that digitalization? Better usability is part of the solution, but only a part.
Banks that do not want to lose their customers to FinTechs and perhaps want to gain new customers in the future, think differently: They modernize their core banking and backend systems and set up their banking processes so they are able to pick up on trends in time. Digitalization in banking means modernizing systems and processes while personalizing the service for individual customers.

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Ssonja Peter

The transformation of a classic company into a modern, resilient and adaptable organization is not solely a question of so-called “agile” practices. What can make a company truly successful in the long run is not only allowing employees to think and act entrepreneurially, but encouraging them to do so. If everyone is committed to their areas as if the company were their own, then they become intrapreneurs – internal entrepreneurs.

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Ssonja Peter

The transformation of a classic company into a modern, resilient and adaptable organization is not solely a question of so-called “agile” practices. Task boards and daily scrums will not make a company more successful in the long term if the fundamental thought patterns continue to be classically bound by instructions. What can make a company truly successful in the long run is not only allowing employees to think and act like entrepreneurs, but encouraging them to do so. If everyone is involved in their areas as if the company were their own, then they become intrapreneurs – internal entrepreneurs. This means that they make decisions on their own, take responsibility, take risks and plan for the future. In this way, they transform the organization sustainably from within.

Agile Pays Off

To meet these challenges in the industry, you must first deal with the difficulties in your own organization. Because the internal structures are often not focused on speed and flexibility. An agile organization is required to be able to act more quickly and effectively. Many large banks and financial institutions have recognized this and initiated a comprehensive change process. The goal: To anchor agile values within the company. This not only makes it easier to pick up on trends and find new solutions, it also makes it possible to return to what is essential: Being close to the customer.

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The 2008 financial crisis and the increasing pressure from digitization and young forms of financial services have forced banks to rethink their strategies and business models. In recent years, many institutions have therefore launched extensive agile transformation programs - in parallel or complementary to their digitization initiatives. These transformations have already reached an advanced stage and, judging by the business reports, are likely to have paid off.

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Digitization has now taken hold of even the most conservative industries. Today, the question is no longer whether there will be changes, but how strong these changes will be. If you want to be among the winners of digitization, you have to act - but what is the best way to go about it?

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Digitization has now taken hold of even the most conservative industries. Today, the question is no longer whether there will be changes, but how strong these changes will be. If you want to be among the winners of digitization, you have to act - but what's the best way to go about it?

CASE STUDY

There is a significant difference between building a school and promoting a smart city: In the second case, complexity increases by leaps and bounds. This means more stakeholders, more project participants, more interfaces. Today, KfW Entwicklungsbank masters this growing complexity in international development cooperation in an agile manner.

CASE STUDY

In order to be prepared for the (digital) future, RBG launched a digitization initiative in 2015. A key cornerstone of this initiative is the "Digital Regional Bank" program. The vision: regional.digital.everywhere.

We Support You in the Transformation

A successful transformation starts with the inner attitude. Agility must first start in your head before it can be reflected in the figures. Based on many years of experience with transformation processes and scaled solutions, our team knows what matters and gives you hands-on support for your initiative.

Depending on the individual starting position, we focus on three points. We work together with you on a sustainable digitalization strategy. We help you develop an understanding for agile management. And we enable your teams to work correctly with agile processes and methods. We will show you the stumbling points and help you avoid them with our well-founded know-how.

We are here to answer your questions.

Christoph Schmiedinger

Executive Consultant

Ssonja Peter

Executive Consultant

INTRAPRENEURSHIP AS A DRIVER OF TRANSFORMATION

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