Become the bank that people love
The journey continues...
Here we are — 2020 — a new year and a new chance to make an impact. We are energised to continue our mission: helping banks become loved by their customers.
There’s something so inspiring about bringing together teams from across the globe to share experiences and insights. Hearing all the customer success stories reminds me of why I started Backbase — to really make an impact in people’s lives. It also affirms that we’re on the right track both as a company, and in supporting our customers’ ambitions.
A few months earlier we hosted Backbase Connect, our annual digital transformation conference. It was truly amazing to see so many digital transformers sharing their knowledge, pain, and success with their peers from around the world.
The Digital-First Direction
Christopher Higgs at RBC’s onboarding story stands out. The bank used to spend 45 minutes and 45 screens to onboard a new customer. Now, it’s just 12 minutes and 15 screens.
Also, Citizens Bank’s Lamont Young covered how their innovation cycle has vastly increased. Last year, they delivered 26 mobile releases to their customers. But even more impressive is their aspiration to release something new every single week this year.
Overall, there are striking similarities in terms of how the speakers achieved their success and approached their digital transformations.
The Big Three
Time and time again, I find that a successful digital transformation has three key ingredients: operate as a platform business, embrace an agile delivery culture and, this last one’s big, always think people first.
As a platform business, you’ll be in a position to keep ahead of digital trends. You’ll be capable of driving innovation, releasing new products faster than ever, and scaling as needed. Which leads to the next point: be agile! You need to be able to move quickly and have teams that aren’t weighed down by internal bureaucracy.
Then there’s putting people first. Always remember that your ambition should be to become relevant in your customers’ daily lives. So focus on real experiences and values. Think about people, the products will naturally follow from that.
I strongly believe that these are the ingredients for becoming the bank that people love. But don’t take my word for it, hear it from the banking leaders at Backbase Connect.
If you want to read more on how to become digital-first, check out this white paper.