Posts

Showing posts with the label culture

I have a problem when changing culture is the answer!

Image
This title is enough to excite anyone one. " Digital Transformation in Banking Requires Big Cultural Shakeups "  Source: The Financial Brand by Jim Marous The core argument is that: to succeed, banks and credit unions must support the elimination of silos, be willing to embrace risk, and have an obsessive focus on the needs of the consumer. ----- I have been saying for a while " that the next victim of digital will be the hierarchy " but I am more than every convinced that the first issue we need to address is consistency in data. Let me explain.  Do we trust the CFO for finance.  Yes we do but we verify.  We get and use b/s, p/l and cash flow as tools to help backed by faith in the accounting software and access controls.  We get reporting to the board in reports and use committees for SAP, remuneration and audit, then we have external audit for full verification.  We had consistency in finance and this gave us a culture.  So do we tru