To cope with asymmetric disruption and stay relevant as markets and consumers change, companies must pivot to become product-led, opex-funded, cross-functional, customer-centric value deliverers. We need empowered staff, self-directing teams, enabling technology and a joined-up internal value chain.
Customer expectations of banking have evolved over the years. If traditional banks don’t meet needs, then the challengers will. If banks keep delivering value to their customers they will be rewarded with loyalty. The true value of digital transformation to a bank is what it can do for its customer.