Maintain a firm focus on the vision and the “why”
Strategic Roadmap
Agile Operating Model
To generate traction and spread the culture change, BCP was utterly disciplined in its implementation. To make sure there was no backsliding, BCP put in place a dedicated leadership team focused solely on the transformation, ensured C-suite buy-in on the changes, and set up new reporting structure.
BCP created the vision around the “rocket to Planet ExEf,” a vivid illustration of their goals and enablers. This analogy was easily understood and made the vision real throughout the organization. The ability to constantly review and adapt the plan was also critical to ensure the transformation stays on the right path.
LESSONS LEARNED
Don’t forget about cybersecurity
Technology
Upskilling current talent is equally important as bringing new talent
Talent
BCP learned that it needs to not only bring new tech talent for growth but also upskill its current talent on new ways of working and latest technologies to deliver product and services faster in line with the technology vision.
BCP underestimated the cybersecurity capabilities it needed when it started its transformation journey. As it absorbed the magnitude of the risks, BCP shifted its focus to develop cyber risk capabilities and mitigate new risks in the digital age.
Make the change stick through leadership and culture
Yape – building a digital disruptor inside a legacy bank
—Raimundo Morales, CEO of Yape
Our story had ups and downs. I think that was part of leadership resilience, focus and conviction for doing things well. There was a strong case for what we were building and that has allowed our success.”
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