The Bank of the Future: A Technology 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.
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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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.
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…
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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? …
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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? …
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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.
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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 …
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