Photo by Cyawan

This week’s curator, Livio Hughes, looks at the ongoing challenges faced by banks in coming to terms with (and preparing for) lasting digital transformation in the face of a range of industry threats, including the likely entry into the market by tech giants alongside the existing FinTech challenge; he also picks 5 links for further reading on the topic.

How can banks embrace digital transformation?

My post on this topic looks at how banks have started to engage with the structural, skills, technical and cultural issues associated with digital change management, but are still falling short of a holistic approach. I argue that assigning responsibility for digital transformation to technical specialists misses the point of this needing to be an enterprise-wide effort including all levels of the organisation, and I suggest some precursors and catalysts requiring attention to ensure that change sticks.

>> see Digital change in banking: precursors & catalysts

The recent announcement that Wells Fargo entered into a partnership with Amazon, signalling the online retailer’s entry into the tricky – but massive – US student loan market, is only the latest in a series of alarm bells being sounded in the financial services industry regarding the tech giants’ long-feared (and widely expected) entry into the banking arena.

Weekly Linklog

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The field of people and groups working at a practical level to transform organisations and build better business structures for the 21st Century is small but growing fast. If you’re interested in this area and think you have what it takes to join us on our mission to make business and work more human, these opportunities might be for you:

Smart and dynamic consultant needed to work on exciting projects
Are you high-energy and intellectually curious, with a strong interest in digital transformation, social business, and organisational development? We’re seeking a consultant to join a growing team of curious, smart and ambitious people, who are passionate about taking digital transformation to the next level, and truly changing the way modern organisations operate.

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Do you believe that work shouldn’t suck? We help companies adopt better ways of working, enabled by digital and enterprise social technologies. We’re seeking a resourceful marketer to create opportunities for our insights and consulting business.