Digital disruption has had a major impact on the banking industry. In response, traditional big players like Deutsche Bank have continued to invest in transforming their infrastructure as well as focussing on delivering services through digital channels. At the same time the competitive landscape has intensified. Deutsche Bank continues to hold off digital challengers, fintech startups and tech giants on a number of fronts – a situation that will require more specific actions and answers in the future. Deutsche Bank is considering how to push digital transformation forward and convert these potential threats into opportunities.
Digital transformation needs digital leaders.
The rapid development of information and communication technologies has fundamentally transformed the traditional “operating system” of doing business. Digital transformation is creating fantastic opportunities for optimizing existing value chains and developing entirely new models for value creation – especially for finance. While the technological possibilities are seemingly endless, the digital transition process nonetheless presents a variety of organizational challenges. (See the reasons why people resist change in the provided Project Kit).
This is where the idea of digital leadership comes into play. Digital leaders are the people in an organization who build technological bridges with a human touch and help to connect the old and the new culture. Digital leaders enable, inspire and counteract reluctance or skepticism.
At Deutsche Bank digital leaders focus on aligning and harmonizing the existing digital offers and client base with the traditional side of branch-based banking. Their most important quality is a desire to encourage new thinking and implementing new initiatives. They manage to keep an eye on existing organizational objectives and understand when digital innovation might produce great results.
For these reasons Deutsche Bank is promoting a new digital leadership initiative to put digital thinking firmly at the heart of the business. An open invitation to all staff members, digital immigrants, digital natives, skeptics, late bloomers and experts to get on board and play an active part in the journey.
What is in for you?
- Connect with a creative and innovative global crowd.
- Your ideas will presented to top-level management at Deutsche Bank and other key players in the financial industry.
- You could win one of 19 cash prizes out of the €15,000 total prize pool.
- A special “Halftime Award” will be awarded to the creative with the best idea submitted before halftime feedback on the 11th of September who will receive a brand new iPad Pro. The creative with the 2nd best idea will get one-year subscription of Netflix. And if you have the two best ideas, you have the chance to get both!
- Next to the community prizes there are 3 Jury Awards in the pool: 2 of the 3 jury prizes will go to the creatives with the best poster design whereas the third will go to the best story script/story board!
To motivate employees to consider digital change not as a threat, but as an opportunity that will:
- ensure the continued competitive capacity of the company
- secure and create jobs
- improve processes, workflow and productivity
- increase creativity and value creation
In addition Deutsche Bank wants to make a statement to reassure their staff that they have the right digital leadership in place in order to master the transformation process successfully.