Knowledge Center
Training
Free online training series
Digital Transformation & Business Strategy
One of our goals is to demystify complex topics around technologies and financial services. Here, we explore some of these terms and delve how digital transformation as business strategy can benefit Financial Institutions institutions.
In this training series, we have collected our knowledge and ideas about the subjects of Digital Transformation and Business Strategy. We have broken down the content in 11 Chapters.
This course is for intermediate and management level employees in financial
1. Introduction
Digital Transformation is a key task for Financial Institutions. While important, it needs to be embedded in a feel-founded business strategy.
We give an introduction to the subject an explain the difference between digitization, digitalization, and digital transformation.
2. Steps to prepare for Digital Transformation
We explain the steps it takes to prepare for Digital Transformations. These are topics that you want to discuss in your financial institution as an initial idea about how to approach Digital Transformation.
3. Ready for Digital Transformation
There are six stages of digital transformation. They include “Business as Usual,” “Present and Active,” “Formalized,” “Strategic,” “Converged,” and “Innovative and Adaptive.”
Each stage is characterized by factors like governance, customer experience, data analytics, and technology integration. We provide details to each stage so that it becomes easy for you to understand where your institution fits in and what it takes to move up to the next steps
4. A Business Strategy for Financial Institutions
We present a concept of a Business strategy for a Financial Institutions that is built around Customer Centricity and Risk Management. We elaborate on the concepts and tools that are required to implement the strategy
5. Customer Centricity
We explain key concepts of Customer Centricity, and what it entails. Customer Centricity should play a key role in the business model of a financial institution. It is though more a concept than a detailed product. We also look at what the critical parts of the implementation phase could be.
6. Risk Management
We have defined an institution’s ability to assess and manage risk as a core competence and a component of the Business Strategy. The video explains instruments for institutions to manage risks. We specifically look at the instruments to assess and manage credit risk.
7. Data Analytics
We explain the components of the Data Analytics Framework that we need to implement to support the Business Strategy based on Customer Centricity and Risk Management. We expand on the components and the structural aspects of that framework.
8. Risk Appetite and Relationship Pricing
Risk Appetite and Relationship Pricing are essential concepts to support the Business Strategy based on Customer Centricity and Risk Management. In this video we explain the background of these concepts, explaining the components of Probability of Default (PD), Loss Given Default (LGD), Exposure at Default (EAD), Expected and Unexpected Loss (EL & UL). We expand on the components and the structural aspects of that framework.
9. Risk Appetite and Relationship Pricing-part 2
Risk Appetite and Relationship Pricing are essential concepts to support the Business Strategy based on Customer Centricity and Risk Management. In this video, we explain the calculation of RAROC and go deeper into the details of appetite and pricing.
10. Loan management software
We discuss how loan management software like Q-Lana can accelerate a Financial Institution with it’s process of Digital Transformation .
11. Risk Sharing
We explain the concept of Risk Sharing and introduce the SME Lending Fund .