2021 Reflections | Riding rockets
Pranav Seth
Chief Digital Officer | IBF Fellow | Scaling the best digital bank in Asia's most exciting growth market
The 2021 Christmas Day launch of the James Webb Space Telescope (JWST) is a pivotal moment for humanity. With its ability to look back farther in time as well as study atmospheres of exo-planets, the foundation is set for a quantum leap in our understanding of the Universe and Life itself!
Back on planet Earth, for us at Techcombank, 2021 was as pivotal, with the launch of core platforms that will power our Digital Growth for years to come. Despite the Covid induced constraints and sufferings, in record time , we launched our retail digital platform, piloted our business banking digital platform , created data-led smart credit decisioning platforms while modernizing our architecture, our datalake and starting our journey to the cloud. At the same time, we brought out massive changes to our operating model by adopting Agile at scale and modernizing our overall DevSecOps.
On a personal note, I started 2021 by moving to Vietnam with a crazy dream to "build" a RocketShip but what I did not realize was that I was hopping onto one - Techcombank! Wait! Aren't banks supposed to be dinosaurs and steam-liners? 2021 taught me what makes a large bank a rocketship:
Aligned & Ambitious Shared Values!
The greater and nobler the goal, the better the alignment! While we are aspiring to be a top 10 bank in ASEAN by profitability in the next couple of years, what is aligning our collective actions is the vision we defined together at the start of the year: "Change Banking, Change Lives". It is incredible when casual conversations on pollution can turn into us stopping coal financing (without any external market pressures, yet!).
Agile Operating Model and People!
Industrial era organization structures do not enable digital success. Technology and business are inseparable and need to be aligned under common business goals under one structure. There is no room for small experiments. At TCB, with centralized tribes under our Digital Office, we've been able to do this at scale. In a short time, we've built a strong cohort of tech-savvy business folks, probably the biggest design shop in Vietnam as well as created a strong engineering core and culture. Finally, what really sparks the engines (and makes it fun!), is the explosive composition of driven Vietnamese talent combined with top global experts.
领英推荐
Tonnes of Fuel under a strong thrust vectoring system
There is no room for small measures left if you want to digitally transform a large organization. The difference between the players who get it and those who don't will be very stark in the next 5 years. Issues on legacy infrastructure/ technology as well as business model need to be addressed head on. This requires accelerated investments. You need to manage the value realization in a very focussed manner (centrally - don't let provincial silo budget mentality constrain you). Period.
With the accelerated spend, comes the responsibility to channel effort in a very focussed manner. Whether doubling up investments or hitting the kill switch, the leadership has made decisions in hours! And yes, this is a large bank I am talking about.
As I reflect back on 2021, I feel a bit dizzy about what we have achieved on this Rocketship and cant stop feeling thankful to fellow colleagues that made it possible, despite whatever the year threw at us. A Heartfelt Thanks!
To the next frontier...
The JWST will take another six months before it reaches orbit and starts sending us images to enhance human knowledge and spark curiosity. Similarly, the journey has just begun for us.
While we have built strong foundations on our core strategic pillars of digital, data and talent in 2021. 2022 will be the year we focus a lot more on connecting them together to create further customer magic and competitive moats.
So Hello, 2022! Here's to Changing Banking & Changing Lives!
Helping Businesses Scale since 1999
2 年What a great year it has been for Techcombank! Congratulations Pranav and to the whole team for giving all your best for the year 2021!?Wishing you a successful year this 2022, Keep thriving mate!
C suite Banker
2 年Congrats Techcomers on board the “rocket ship” ! Thanks pranav for “2021 reflections”
Managing Director at Ipsos
2 年Congratulations Pranav and TCB Team. Wishing you all the best in 2022
Director - Head of Transformation | Digital & Distribution Partnership at AIA Group
2 年Impressive!!!
CFO Advisor | Finance transformation | Cloud adoption | Shared services | Finance Gen AI | Singapore PR
2 年At various points in life, we have all been through character building experiences. 2021 was one of them. Dealing with extreme versions of social distancing measures, while being away from family, can be daunting…as it was for all of us expats in Vietnam. I believe 2 aspects were at play to balance it out. The first one was a close-knit circle of friendship that originated from the Bank. It was refreshing to evidence, how blurring lines between colleagues and friends can transform effectiveness at work place. The second was the raw energy and appetite that the bank carries to absorb all the global experiences we have to offer. I believe many of us are ending this year with a spiritual high for having had the opportunity to GIVE into the Banks cause.... selflessly.