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FINTECH AMERICAS CONFERENCE

Blog 2018

MEET THE BANKING INNOVATORS TRANSFORMING THE INDUSTRY LANDSCAPE

Nadeen Mathews: digital bank has been transforming our culture

NCB has a leading position in Jamaica and it is a top 10 in the English and Spanish Caribbean, what are the main challenges you face in transforming a traditional bank into a digital bank?

Our main challenge in transforming into a more digital bank has been transforming our culture and way of working. The traditional banking culture is distinctly different from the culture at the most successful digital natives. Collaboration across units, experimentation, failure tolerance, innovation, customer centricity and greater speed and agility are some of the key cultural norms we are seeking to establish and enhance at NCB. In April 2017, we launched our first enterprise Agile project with a dedicated Scrum team and cross-functional subject matter experts from across the entire business. In the course of 20 weeks, our first minimum viable product was available for pilot and the positive consumer sentiment was overwhelming. Under our traditional way of working, this would have taken 9-15 months to develop and launch. There would have been less collaboration and customer input throughout the process. Based on this experience, we are committed to scaling up this way of working and using this as an agent of change to the desired culture required to support our digital ambition. To support the scaling of agile, accessing talent with specialized skills has become another challenge so we are employing new recruiting strategies e.g. sponsoring hackathons and investing in training and development to retool our existing work force.

Other challenges include how to ensure that our legacy technology infrastructure can enable digital solutions, how do we harvest the data we have to deliver better customer and business outcomes and how do we effectively migrate customers to digital solutions. We believe these challenges are surmountable with the right culture and talent.

As Chief Digital and Marketing Officer, What customer experience (CX) or user experience (UX) are your clients expecting from your bank today?

 

Customers are using their experiences with digital natives such as Amazon, Google, Facebook, Uber and Spotify as reference points for their interactions with all companies.  The interaction with these companies is characterized by personalisation, simplicity, transparency, convenience, flexibility and integration of multiple useful applications for ‘one-stop shop’ experiences. This is the standard that has been established and so our focus is not on having the best customer experience among our banking competitors, but on providing a customer experience that meets the expectations of customers based on their interactions with digital natives.