Recently, I’ve been observing a growing trend where traditional banks are trying to adopt the agile methodologies of tech startups. Believe it or not, this cross-industry learning is becoming increasingly important in the digital age we live in.
Startups are known for their customer-centric approach, rapid development cycles, and constant iteration based on feedback. And these are tactics that financial institutions could greatly benefit from.
Take my own bank information services startup as an example. Instead of sticking to outdated methods and legacy systems like many traditional banks, we strive to innovate and offer our clients modern solutions using an agile methodology. It’s not just about information; it’s about making that information accessible, understandable, and usable.
So yes, let’s blend the old with the new. Let’s break down the silos between different industries to learn from each other. The banking industry has much to gain from looking outside its four walls – particularly in the direction of technology-based entities grappling with similar challenges.
Embrace change, embrace innovation. That’s my advice for today.
Who knows? You may have more in common with a Silicon Valley startup than you think.
💡 Let’s stop just collecting data. Let’s start making it work for us. Let’s transform banking, together. 💡
🔔 Follow Brian on Linkedin: Brian Pillmore