Digital Transformation at Erste Bank

Summary

Challenges

? The financial sector like most other industries experiences the rapid change in digital trends and client expectations

? Fintech companies put intense pressure on traditional financial institutions

? It is challenging to involve the entire organization in a digitalization awareness campaign

Goals

? Involve all employee groups in the awareness training

? Design a learning experience that boosts engagement and provides employees with practical and useful digital knowledge

? Prepare colleagues to use business-relevant digital services effectively and continuously

Solution

Erste Bank decided to implement the Games for Business learning platform that includes up-to- date and relevant knowledge about digitalization trends, tools, and processes in the consumer market with a focus on the financial industry.

Organizational background

According to Deloitte, by the end of 2019, 87% of company leaders believed digitalization would disrupt their industry, but only 44% considered their organization to be prepared for the challenge. Among the different sectors, the financial industry is one of the first to experience these rapidly spreading digital trends. That is why Erste Bank was looking for a solution that helps them prepare for the challenges that digital transformation holds.

According to studies, 70% of change programs fail to achieve their goals in large part due to employee resistance. Optimizing the employee experience is critical in driving higher digital dexterity, which is an essential ingredient of successful digital transformation initiatives. Erste Bank decided to introduce our playful digital? learning system with two primary goals. One is to keep their employees up-to-date on the topic of digitization. The other is to make their colleagues confident about their digital banking products.

The new approach

During the three months learning journey, employees were introduced to topics about everyday digitization and specific financial sector related topics. The bank improved the digital dexterity of its employees with a flexible and exciting learning process. Employees used the system whenever and wherever they chose. They received constant feedback and instant rewards, which they could redeem for valuable prizes.

Detailed results

71% of the responded users found the learning game fascinating, which means that employees willingly spent time in the system and solved several tasks related to digitalization.

76% of the responded users found the game structure clear and transparent, which is an excellent result because we believe that a successful digital learning process is consistent and easy to understand.

2.3 hours average recorded usage time per user. The bank’s employees voluntarily spent 2.3 hours processing content about digitalization, which generally would not be considered an attractive topic for such a heterogeneous group.

144 956 correct answers recorded in the system. This means that employees made the right decisions on the topic of digitalization 144

956 times based on what they have learned with the platform. The Games for Business learning system is designed to help retrieve and deepen the acquired knowledge during the learning process.