Building Fintech + Financial Institution

There has been lots of talk around technology teams working in Bimodal way (transformational as well as Business as Usual). I believe that this approach would not go beyond a point. Technology teams are part of digital initiatives and not the only driver of change.

I believe that the entire organisation has to work in dual mode. There has to be a team focused within each unit focused on

– Digital Transformation team: This team would be run like a Fintech with focus on business initiatives powered by technology. This team would have direct access to Board and Top Management & should be run by potential future CEO. This team should work on customer acquisition, credit, ops simplification etc. This team would also be responsible for enabling BAU team in utilising digital.

– BAU team: This team should continue with current set of initiatives and should also work closely with Digital Transformation Unit for increasing the usage of digital. Thus, the responsibility of this unit would be utilising the digital power rather then creating the same.

This framework should run for next 24 to 36 months and beyond that there may be need to merge these two units.

What do you think? What would be the positives and negatives?

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