ISG supported a European regional bank in delivering its vision of bank 3.0.
The bank wanted to engage a partner to support their business transformation in order to leapfrog their competition.
The banks transformation was underpinned by the below three ambitions:
- Achieve profitable growth through access to new segments and geographies.
- Improve their relevance with customers through personalization and individualization.
- Use 21st century digital technology delivered in the context of an architecture designed to accommodate continuous change.
The bank engaged ISG to support them across a number of workstreams to allow them to achieve their vision:
- Research: ISG utilized our well-established research capabilities to analyze both the bank's targeted markets as well as the broader banking marketplace.
- Assessment: ISG assessed the market focusing on both the direction of the established market leaders and alternative banking providers that are looking to challenge or disrupt the status-quo.
- Sourcing: Finally, ISG supported a sourcing process utilizing the ISG FutureSource™ methodology as well as the development of a new target operating model to support these new services.
- As a result, the bank accelerated its transformation journey.
- The bank was able to onboarding its first provider to underpin its bank 3.0 vision.
- It also was able to establish a new operating model based on agile principles in order to deliver a bank that not only accommodated continuous change but embraced it.