The digital transformation and the associated adaptation requirements for banks are moving ever faster. The key competence of the digital age is therefore effective and agile change management. Banks must demonstrate the highest level of adaptability in order to prevail in the intense competitive environment of FinTechs and technology giants. However, radical transformations, which are urgently needed, can also trigger uncertainty among employees, as everything that already exists is called into question. This is why structured change management is necessary to turn those affected into participants. After all, the success of the change stands and falls with the actors involved.
In addition to change management, it is crucial for success to align management with the new, digital reality. One consequence of this approach is that new performance indicators must be used, such as the degree of digitally enabled customers, the development of hybrid customers, or the proportion of digital communication.