Business transformation is a term that gets thrown around a lot in the startup community. Founders often talk about their business as if it were a living, breathing organism. They talk about “listening to their business” and “responding to their business”. They talk about their business as if it were a separate entity, with its wants and needs.
We’re going to turn your world upside down,’ the head of IT at a major bank said. The room was quiet for a moment as the CIOs and CTOs of the country’s technology leaders contemplated the impact of this statement. The head of IT at a major bank had just announced a major transformation of the bank’s IT systems. This would be the biggest change to the bank’s IT systems in decades.
For decades, banks have been operating using systems that were designed for a different world. Bank branches are still using systems that were designed for telephone banking. When customers walk into a branch today, they expect the same experience they get when they use online banking. They expect to be able to use their mobile device to bank from anywhere, on any platform.
The sense of excitement was palpable. The bank had been talking about this for a long time. The CIO had been working with the board and senior management to plot a course for the bank’s digital future. Now was the time to act.
What he meant was that his team was going to make major changes to the bank’s IT systems. This was going to be the biggest change to the bank’s IT systems in decades. The CIOs and CTOs from the country’s top technology companies were gathered in the boardroom of a major bank. They had come to hear the head of IT announce the details of the bank’s transformation.
The C-suite at the bank had been agonizing over this decision for months. It was a major investment and would require a lot of time and effort from the bank’s leadership. But they had decided to go ahead. The bank’s leadership had decided that the transformation was worth the risk.
banksbanksThe head of IT at the bank had just warned the startup community. The startups were building software that would change the way people bank. The founders of the startups were building software that would change the way people interact with their banks. The founders of the banks were building software to interact with their customers.
The transformation is happening. The startup community is changing the way people interact with their banks. The C-suite of the bank is changing the way people bank. And the CIO is building the technology that will power the transformation.
The startups were building software that would turn the financial services industry upside down. The founders of the startups were building software that would change the way people bank. The founders of the banks were building software to interact with their customers. The C-suite at the bank had been agonizing over this decision for months.
The transformation was going to transform the way the bank’s customers interact with the bank. The transformation was going to change the way the bank’s customers interact with the bank. The transformation was going to change the way the bank’s customers interact with the bank. The transformation was going to change the way the bank’s customers interact with the bank.
Transformation! 