FinTech Magazine October 2020 | Page 34

DIGITAL TRANSFORMATION
MCKINSEY ’ S ROADMAP FOR DIGITAL TRANSFORMATION
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In its article ‘ A roadmap for digital transformation ’, consultancy company McKinsey outlines ten guiding principles for establishing a successful strategy :
Stage one : Define value
1 . Secure the commitment of management
2 . Set clear yet ambitious targets to achieve
3 . Make sure that investment can back your goals
Stage two : Launch and accelerate
4 . Initiate ‘ lighthouse projects ’
( short-term , clearly defined and easy to measure )
5 . Create a launch team comprised of top-tier talent
6 . Lay the cultural foundations for new and agile processes
7 . Foster digital culture within the company
Stage three : Scaling up
8 . Sequence initiative for quick returns
9 . Develop capabilities 10 . Adopt a new operating model
OCTOBER 2020