FinTech Magazine - January 2023 | Page 87

Driving innovation through Change Management

The benefits of Change Management While the immediate benefits of Change Management see a well-distributed and agile body of talent throughout Santander UK ’ s internal structure , the solution has numerous additional advantages . One of those benefits is employee inclusion in the digital transformation process . While many companies cite employee resistance to change as one of the stumbling blocks of transitioning to a digital system , Santander UK ’ s staff can comprehend the impact their performance has on the peripheral teams and are far more invested in driving forward the company as a whole , according to Narang .
“ We set up various work streams for the transformation , involving vertical business units due to the traditional structure in a bank , but also with horizontal capabilities such as data and process re-engineering in the conversion from legacy to cloud .
“ We ’ ve combined vertical and horizontal work streams with a work-stream leader and initiative owners with the various initiatives or projects under each of those work streams .”
The system is enormously experimental and involves more than 250 people across the organisation to physically lead each of those projects .
“ Because they were leading those projects , they got intimately involved in
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