Business Agility 2017 in New York – Day 2 Review

Leading the Transformation

Second day and guess what? Amazing stories and insights about the transformation journey DBS has taken to emerge as a more agile organization by Paul Cobban. I still remember a reaction from someone from audience when Paulo talked about “making banking joyful for both customers and employee.

The person said in clear and loud sound “Oh my!” following by a big and surprised laugh. Usually this the reaction when people talk about the benefits of agile mind set in big and traditional industries.My wife worked for a bank for many years and believe me! She and her ex-colleagues were not living a joyful moment there.

Paul did an amazing job in walking us through DBS’s journey and the main transformation points that drove DBS culture to a wining bank among competition that were comprised by a set of practices from lean, agile, design thinking, innovation, big data and motivated people looking for change.  He make a joke about the meaning of DBS: Damn Bloody Slow but it turned out to be leading the market in Singapore’s area.

  1. Eliminate the waste: a lean approach to understand your cost per transactions or a simple metric that can help you identify waste in your day-to-day activities.
  2. Design from Customer Back: understand your client’s journey. Get close to their routine and get to know them and make all efforts to design your organization to serve and add value to them. The client is your boss not your manager, process and super fancy group of buzz words.
  3. Be data driven: when you are able to combine and match data (structured and unstructured data) with client’s information the magic happens. Decisions can be more effective and the impact in terms of value that client perceives is huge.
  4. Create a culture of innovation: Allow people to experiment and try new ideas then let them fail and learn from the experience. I bring this sentence with me every time I am struggling on how to implement something:  Start small and grow fast!
  5. Codify the culture: make sure everyone is talking and walking the speech. Lean practices to eliminate the waste, design thinking, data and innovation culture. These are the pillars that might lead your organization and clients to a new level of joyfulness

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