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by James Robert Lay on March 10, 2021
Brief Summary of Episode #73
Some companies look at digital transformation as an inevitable box that needs to be checked.
☑️ Buy a bunch of new tech services and call it a day.
They end up having this conversation around technology when what they should be doing is having a conversation around the business.
It’s called the technology success bias. This idea that adopting technology will be the cure to all their pain points and problems.
But the reality is to get the maximum value of that investment in technology, they need to align it to the business.
Partnering with the business lines from the very beginning helps drive true innovation and that’s where true digital transformation occurs.
To get back on track, answer two simple questions:
1. What is it that we want to do exceptionally well?
2. What technology do we need to put in place to get there?
This wisdom is brought to you by Cory LeBlanc, co-founder of Locality Bank, who was recently featured on the Banking on Digital Growth Podcast.
Key Insights and Takeaways
- How honesty drives transformation
- Adopting technology for all the wrong reasons
- Reinventing how community banks can serve their clients
- Why it’s important to get the business lines involved with your digital transformation at the very beginning