Next Generation Of Banking: Part III
Banks need to be smarter by seeing new competitors as opportunities and their internal culture as crucial for greater transformation.
They need to challenge their most fundamental assumptions as traditional banks in order to keep up with the exponential pace of change and digital advances in the market.
This calls for a transformation - not only of their business model but of their corporate culture.
This is part 3/3, and explores successful case examples of greater organizational transformation with focus on two crucial components to enable business to simply the challenges of tomorrow by working smarter today.
Corporate culture transformation to facilitate company-wide adoption of an agile mindset which equips people to deal with an increasingly volatile and unpredictable market
Business model transformation to build an infrastructure that is as flexible as consumer expectations and market dynamics, and can quickly respond to change
Implications for traditional banks act as actionable starting points for businesses kick-starting a transformation, and looking to minimize resistance and risk from the outset