Most commercial lenders are looking to make their first transformational investment in a decade or more, aimed at helping them better compete in the digital economy. The prospect of change, however—even positive change—can feel threatening to employees who see their hard-earned status being jeopardized, or who wonder if they will be left behind as the business moves forward. That’s why delivering transformation and innovation in a way that brings their employees on the journey with them will be critical to the success of any organization's change initiative.
Three elements to create a change culture
Based on our experience, we find that investing in three people-centric elements can help commercial lenders create and sustain a true culture of change. Successful execution will rely on clear commitment, direction and accountability from leadership.
Banks, turn the key on lending change
Commercial banks are wise to invest in digital lending technology to keep pace with non-traditional competitors—but the key to bringing about the necessary transformational change is still people.