Project
Digital Product Launch in the Financial Service Industry
Challenges
The subsidiary of an international bank is launching a new digital product offering, for which the visibility within the corporation as well as the pressure to succeed was significant
- The agile project consisted of three streams: An online portal offering product information, a digital product substituting individual solutions for each client with an automated, digital offering for small tickets, an innovative pricing scheme (Pay-per-use)
- Changes of roles, responsibilities and thinking from the clients‘ point-of-view had to be embraced by the organisation
- Adding to the complexity was a restructuring, leading to a potential number of 1 mio. additional clients to be served with existing staff
Our Approach
We proposed a participative approach to embed the core skill of changeability within the organization aiming at the:
- Clear definition of the transformation objective
- Commitment and motivation of all employees directly involved (appr. 50) as well as other stakeholders
- Set-up and handover of the project as a blueprint for the larger change and digitalization initiative of the organization
Our main measures included:
- Conducting and analyzing structured stakeholder interviews to better understand their needs and support the change
- Choosing and coaching ambassadors to promote the new product from within the organization
- Moderating a business model canvas workshop with the project team and ambassadors
- Setting up the change communication by writing a change story, and establishing a communication plan
- Planning and moderating Business Simulation Workshops in large, mixed groups (60-70 participants per session)
Results
- A smooth start into the new business with a positive “can do” attitude that has led to unexpectedly good business results in the first quarter
- Early leadership alignment and board attention made employees feel valued and increased the sense of urgency in a positive way
- Consistent messages and a unified tone from the top left no room for interpretation
- As a result, employees accepted that change was happening
- A lot of useful feedback on tools and processes from employees
Lessons learned
- A profound and significant change of organizational culture requires new experiences AND iteration
- Involvement of all employees who play a part in the new processes improves results
- Coaching management to „let go“ and entrust their employees with more freedom can be just as important as motivating the overall staff for the journey
Back
Other Projects:
You need help? Contact us!
OFFICE BERLIN
T +49 3089 000 232
E welcome@semler-company.com
OFFICE FRANKFURT
T +49 3089 000 232
E welcome@semler-company.com