The Business Case for Digital Transformation: Starting the Conversation

Digitization and Transformation

Mary Elliott

Jul 1, 2019

Gain agility, survive, and thrive: three components financial institutions can achieve by implementing digital transformation strategies. Many financial institutions use their core provider to digitize the account opening process. However, this approach is not an ideal solution but usually a quick fix to a pressing problem. B2B growth is dependent on digital transformation, and in order to build a comprehensive foundation for your business’ future competitiveness it is crucial to present a strong business case for digital transformation to your team.

Implementing an end-to-end digital platform and adopting omni-channel and omni-product strategies ups your digital transformation game, and getting employees to ask questions and discuss hesitations will open up the opportunity to allow digital transformation tactics to push your organization forward.

What questions should you ask your team?

Asking the right questions and uncovering the answers will help your team understand how digitalization benefits the organization long-term and day-to-day. To make the business case for digital transformation, here are a few questions to get you and your team started:

  1. How do you think our organization could improve?
  2. What are the inefficiencies of how we do things now?
  3. What opportunities might we be missing out on?
  4. What challenges do we face?
  5. How can we help make this transition successful?

Don’t think your organization has the time, money, or resources to make the change?

If you don’t think you can afford to make the transition, the truth is you can’t afford not to in today’s competitive banking industry. A holistic digital platform will lay the foundation for your organization to effectively:

• Adapt to changing customer needs
• Offer innovative services
• Deliver value to daily processes
• Enhance the quality of interaction between bankers and customers

Take the next step to digitally transform your financial institution with the guide: Digital Transformation in Action: Questions to Ask Your Team.

And for further insights into the banking industry and beyond, subscribe now and stay up-to-date on the latest trends and topics.

Posted by

Mary Elliott

As a featured SmartPayments contributor and marketing intern at Bottomline Technologies, Mary Elliott brings a unique perspective with her diverse background in the technology, marketing, and non-profit industries. She is simultaneously pursuing a BS in advertising with a minor in technical writing at Kent State University.
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