Transforming From a Legacy Bank Into an Innovative Digital Bank

With the clear vision of becoming a leading (neo) digital bank, the client, a new entity separated from the parent bank, was challenged with upgrading its core services to cater to changing customer needs.

With Digital Execution Scorecard™, the client was able to enhance digital services leading to growth in core services revenue. It also helped the client address digital priorities to enable growth in non-adjacent markets.

Critical priority

Aiming to become a leading bank in South Africa, the CIO was faced with numerous challenges including:

  • informing and onboarding the new board of directors and the CEO with the new digital strategy;
  • setting up new digital platforms and modernising core infrastructure independent from the parent organisation;
  • addressing compliance issues to minimise operational risks and to secure a full banking license; and
  • securing new digital talent and skills.

How Gartner helped

The client wanted to focus on modernising its IT core and building digital business technology platforms for improved digital banking services. To achieve these objectives:

  • The client leveraged Digital Execution Scorecard™ to educate the board on the gaps in the current digital capabilities and to build a business case to get buy-ins from the board of directors on digital infrastructure investments.
  • With the help of Digital Execution Scorecard™, the client was able to address the need for new talent required to support the digital infrastructure and business model changes.

Business Impact

With the support of Gartner, the CIO was able to:

  • drive conversations with the CEO and the board of directors and prioritise strategic actions;
  • build a new digital foundation that is secure and scalable in line with the digital strategy;
  • improve digital banking services;
  • reduce the risk of non-compliance; and
  • highlight the need for new talent to remediate digital infrastructure and operating model changes.

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