--- title: Playbook Guides Banks in Executing Tailored Digital Transformations description: By asking three critical questions, banks can identify the best ways to assess, fortify and optimize resources to reclaim their digital transformation agenda. image: https://www.spinnakerconsultinggroup.com/hubfs/Screen%20Shot%202020-12-08%20at%205.22.45%20PM.png --- [![Spinnaker Consulting Logo](https://www.spinnakerconsultinggroup.com/hubfs/spinnaker-logo.svg "Spinnaker Consulting Logo")](https://spinnakerconsultinggroup.com) [tel:804.510.0768](tel:804.510.0768) Menu - [Culture](https://www.spinnakerconsultinggroup.com/culture) - [Work](https://www.spinnakerconsultinggroup.com/work) - [Differentiators](https://www.spinnakerconsultinggroup.com/differentiators) - [Insights](https://www.spinnakerconsultinggroup.com/insights) - [Experts](https://www.spinnakerconsultinggroup.com/experts) - [Contact Us](https://www.spinnakerconsultinggroup.com/contact) Customer Channels & Operations Management, Business Strategy, Digital Transform 2 minute read # Playbook Guides Banks in Executing Tailored Digital Transformations Dec 8, 2020 Written by: Spinnaker Team - Share Post: - [mailto:?subject=Spinnaker%20Consulting:%20Playbook%20Guides%20Banks%20in%20Executing%20Tailored%20Digital%20Transformations&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/digital_transformation_playbook](mailto:?subject=Spinnaker%20Consulting:%20Playbook%20Guides%20Banks%20in%20Executing%20Tailored%20Digital%20Transformations&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/digital_transformation_playbook) - As we’ve learned from consumers during the COVID-19 pandemic: Banks need to seize this digital moment before they become mere marketplace memories. Digital transformation is no longer a “nice to have” for small and medium-sized banks. Consumers have flocked to digital channels in record volumes since lockdowns rolled out across the country earlier in the year. Branches are seeing declines in in-person visits, while one Mastercard study showed [40% growth in contactless transactions in the first three months of 2020](https://mastercardcontentexchange.com/newsroom/press-releases/2020/april/mastercard-study-shows-consumers-globally-make-the-move-to-contactless-payments-for-everyday-purchases-seeking-touch-free-payment-experiences/). No longer are we talking about a digital-first approach. To meet these rapidly evolving customer preferences, banks need an *end-to-end strategy* to integrate digital for significant gains – including increased operational efficiency, improved customer satisfaction and decreased regulatory risk. And let us not forget that bringing your bank up to at least market expectations for digital experience will enhance your brand. ## Pursuing the Best Digital Transformation Without question, the COVID-19 pandemic has also changed the daily work of banks – but the timing has never been better to reignite and focus your bank’s digital transformation to meet your customers’ needs. Asking three critical questions will help you build a just-right roadmap as you look for the best ways to assess, fortify and optimize your systems to move to the next level. ## What is your data telling you? Spend time reviewing your budget and transaction metrics, which can help you identify opportunities for investment and establish benchmarks to measure against as your digital journey advances. An important part of this initial assessment is aligning on key definitions across channels, which, in turn, will drive consistency in future reporting. For example, do you consider a married couple as one customer or two? What if they have both individual and joint accounts? Is your customer total still at one – or are you up to four now? ## **Do your channel investments match your overall strategy?** Fight the urge to have a digital strategy. Instead, you need an integrated channel approach that supports your overall strategy. Take the time to understand where and how you’re investing in your primary customer channels: branch, phone, ATM and digital. At the end of the day, this should be a zero-sum game: As you pick up customers in one channel, volume should drop in others. As digital gains more traction, you should start to see cost savings from greater automation and operational efficiency – or you need to figure out why you’re not. ## **Do you have the necessary personnel and training procedures in place?** This is hard work, and you won’t succeed if the effort is contained just within the digital team or even if you rely on a few digital ambassadors. Getting everyone in your bank – from the CEO to the front lines – on board with driving greater customer usage in your digital channel takes both time and engagement. Your phone agents and branch tellers need to understand the benefits of digital products and services so they can educate customers. ## **Download the Playbook** Getting from Point A to Point Z – and taking all the right steps in between – can be a tough thing to balance. That’s why we developed our digital transformation playbook, [*How to Successfully Reclaim and Navigate Digital Transformation Amid COVID-19*](https://www.spinnakerconsultinggroup.com/digital-transformation-whitepaper-0), to help you get a running start on developing the right blueprint for your organization. The playbook walks you through the steps to start your bank on a digital journey that will enhance your daily operations (read: save money via greater efficiency) and better meet today’s customer needs. Download your copy today. [![copy of downloadable playbook](https://no-cache.hubspot.com/cta/default/6852540/dbc0884f-d7bd-42bc-b24f-211d8c47b87f.png)](https://cta-redirect.hubspot.com/cta/redirect/6852540/dbc0884f-d7bd-42bc-b24f-211d8c47b87f) - Share This Post - [mailto:?subject=Spinnaker%20Consulting:%20Playbook%20Guides%20Banks%20in%20Executing%20Tailored%20Digital%20Transformations&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/digital_transformation_playbook](mailto:?subject=Spinnaker%20Consulting:%20Playbook%20Guides%20Banks%20in%20Executing%20Tailored%20Digital%20Transformations&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/digital_transformation_playbook) - ## Related Articles ### [With Regulation Coming, Fintechs Should Maximize This Opportunity Jul 27, 2021 Regulation – in some still-to-be-determined format – is forthcoming for fintechs. Customer Channels & Operations Management, Program Build Out, Compliance, Risk Management 6 minute read](https://www.spinnakerconsultinggroup.com/insights/blog/fintech_regulation) ### [The Spinnaker Sit-Down: Q&A with FinTech Thought Leader Michelle Katics Sep 19, 2019 With our Spinnaker Sit-Down interview, we give you VIP access to industry influencers, thought leaders, and movers-and-shakers who share their unique insights and perspectives on industry issues, trends, and questions. This month we sat down with fintech thought leader Michelle Katics, CEO and Co-Founder of BankersLab and PortfolioQuest, the SaaS training platform “flight simulators” for bankers. A seasoned fintech leader, she’ll reveal the “hot topic” in fintech/credit risk right now, the industry’s biggest challenge, and what the industry will look like 10 years from now. Executive Leadership Coaching 7 minute read](https://www.spinnakerconsultinggroup.com/insights/blog/spinnaker-fintech-michelle-katics) ### [4 Takeaways from Fintechs to Improve Your Digital Experience Jan 21, 2021 Many of the nation’s top-tier banks are inching along the adoption curve and redefining themselves as fintechs. With many drawing the spotlight as market darlings, fintechs – led more often by tech whizzes than bankers – are revolutionizing banking through targeted applications of rapidly emerging technologies. In bare bones terms, the fintech mission is to find better ways to do business, whether it’s through a consumer-facing capability or a back-end process. Success lies in carving out a niche by providing sharply focused solutions, usually to a pain point (or two) that regularly frustrates consumers. Fintechs’ size and sophistication range from mom-and-pop virtual startups to subsidiaries of major technology companies, including IBM, which is top ranked for using artificial intelligence in banking. While smaller tech companies with sexy solutions tend to get a lot of the buzz, you can’t have blinders on to the broader fintech ecosystem when your organization is trying to fill in the blanks around what it needs from a capabilities standpoint. Only those banks in, say, the top 10 in assets have the in-house technological horsepower and deep financial pockets to envision and develop these savvy offerings themselves. They might carve out a group of digital talent and establish a think tank, where they leverage design thinking and other smart tools to dream up and build internal apps. On the flip side, some banks are opting to act as venture capital firms, injecting cash into smaller fintechs that, in turn, develop unique capabilities that align with the customer experience banks want to provide. Fintechs embrace agile methodology and the newest technology, often built on more flexible back-end platforms that allow them to execute on new ideas quickly, ship code rapidly and get to market sooner. They cycle through test, learn and adapt in the time it takes a conventional bank to convene a meeting. But all that rapid innovation doesn’t mean they don’t have staying power – this market segment is projected to nearly triple, reaching just under $310 billion by 2022. That means fintechs are doing something right – starting with not trying to be all things to all players. That means banks need to take the right lessons away from the evolution that’s taking place around them. Customer Channels & Operations Management, Business Strategy, Change Management 5 minute read](https://www.spinnakerconsultinggroup.com/insights/blog/fintech_lessons) - Let's **Talk** - [804.510.0768](tel:804.510.0768) - [info@spinnakerconsultinggroup.com](mailto:info@spinnakerconsultinggroup.com) - [mailto:info@spinnakerconsultinggroup.com](mailto:info@spinnakerconsultinggroup.com) - #### Subscribe To Our Blog Like how we think? Subscribe to have our articles delivered direct to your inbox each month. **Headquarters:** [8000 Franklin Farms Drive, Suite 100, Richmond, VA 23229](https://www.google.com/maps?ll=37.60197,-77.545775&z=17&t=m&hl=en&gl=US&mapclient=embed&cid=10375661570052893047) ©2026 Spinnaker Consulting Group. All rights reserved. - [Privacy Policy](https://www.spinnakerconsultinggroup.com/privacy-policy) ![](https://px.ads.linkedin.com/collect/?pid=552770&fmt=gif)