Banking Transformation’s New Pragmatism

Transformation comes in all shapes and sizes, with organizations at different stages of their transformation journey. Yet, there are interesting patterns If you map levels of Ambition in the strategy with confidence in execution. That is what leaders did with 35 Banking Transformations at Q6 Innovate, held in Leeds at the start of October.

Here is a quick overview of what it revealed.

• 37% of these banking transformations demonstrated high confidence.
• The proportion of initiatives with high ambition was also 37%.

Here is the interesting thing, however, only 13% have both high confidence AND high ambition. This elusive position on the grid is like transformation nirvana.

The largest group of initiatives, 49% is to be found in the middle of the grid confidence-wise. They are finding a middle way between selling the dream and keeping it real, turning their back on the hype traditionally associated with transformation and change.

So, when we compare with last year’s Q6 Innovate, High Ambition jumped 20 points, but High Confidence slipped by 10 points. Some are calling this a more pragmatic approach to transformation.

Dreaming Big, But Driving Cautiously? You’re Not Alone

This interesting data brings us to two critical questions:

• First, where on the grid are you?
• Second, how does that affect your strategy execution?

Do you want to double-down on the level of confidence & ambition for your transformation initiative? If yes, why not talk to us?