Digital Banking
The Situation
Close Brothers are one of the UK’s leading merchant banks. They had invested significantly in technology but were unable to implant solutions that had been built as they were not fit for purpose and as a result of this their confidence in their ability to fully digitise their business and safeguard their future as the primary banker of choice for British SME’s had been knocked.
The Task
I joined the organisation as an interim transformation director which the aim of turning around their failing transformation programme and putting in place the structure, methods, processes and tools needed to deliver against their strategic ambitions.
The Action / Approach
Defined a new strategy for the business with a set of longer term goals to underpin the case for change
Achieved by in from the Group Board for the revised business strategy
Documented the current and defined a new business model for the organisation and created the transformation route map
Engaged with the Executive team in the production of the strategy and then in the Sponsorship of key initiatives
Reduced complexity and created simplicity through the standardisation of methods, tools, processes both within and external to the Bank
Created a team of engaged subject matter experts led by product owners that were central to the definition of business solutions and able to influence the wider organisation to adopt new ways of working
Chunked delivery up to offer early business value while at the same time giving the product owners and SME teams a vehicle for further change
The Result
Developed the business case for transformation and as a direct result of the early deliver of some components of the new business architecture won funding for the full programme
Moved the organisation beyond its poor track record based on the successful deliver of business increments increasing credibility, confidence and influence across the business
Created a strategy for the business that underpinned its digital transformation and encapsulated the organisation’s vision for the future
Led a programme that from day one underpinned by a set of realistic estimates that took into account the level of uncertainty and which was quickly seen as the best practice for change across the wider group of businesses
Defined a new technical architecture that integrated seamlessly with the wider architecture creating a solution that was easy to support and avoiding technical debt
Created a new data strategy and delivered a new operating model alongside the technology needed
Created a new governance approach for the programme that became the standard for the wider business and which underpinned a mature and transparent relationship with the Executive team
Implemented more iterative ways of working and helped the organisation to think in a more agile manner
Introduced the organisation to change management and implemented PROSCI which underpinned successful implementation of new ways of working across the wider organisaiton
Focus In On: Responsible for Digital Business Transformation
New Areas of Value:
Gain access to additional budget through success
Increased credibility, confidence and influence across the business
More consistent and sustainable profitability and business growth
Digital transformation that drives, moves and resets the organisation’s vision
Improvements around:
Budget availability affected by external change drivers and uncertain resource estimates
Lack of process and technical integration strategy making the overall solution less efficient
Poor data strategy resulting in siloed, incomplete and poor quality data
Lack of agreement of transformation governance and stakeholder understanding leading to a fragmented approach
Lack of transformation, change and agility mindset in leadership
Leaders mandating a change management and implementation approach that’s not appropriate to the organisation
Lack of availability of the right people at the right time across both business and technology areas
Cynicism, lack of buy-in and resistance to change
