Align decisions and
trade-offs to strategy
Strategic Roadmap
Talent
Kiwibank needed specific capabilities and worked hard at recruiting and upskilling top banking and digital talent. The investment in the breadth and depth of its talent and developing mindsets was crucial in building the new platform and new solutions.
Just as important was the shift toward new ways of working in cross-functional teams.
Kiwibank faced a number of difficult choices along its journey, however, the executive leadership team was committed to the goals and worked to build their own digital IQ. Identification of the unknowns early enables organizations to assess tradeoffs against the strategic rationale, helping to provide clarity and enable alignment among executives and the board.
LESSONS LEARNED
Start on the side
to go fast
Adoption and Scaling
Don’t let perfect be
the enemy of good
Agile Operating Model
Waiting too long to make decisions hampers solution deployment, organizational learning, and value delivery. Kiwibank's approach of deploying solutions rapidly, improving them iteratively, and being guided by a clear from-and-to target state, OKRs, and an integrated plan has proven effective in addressing these challenges.
Piloting on the side has enabled Kiwibank to speed up learning while minimizing risks. The approach accelerated the delivery of tech foundations, system integration, and the proof of coexistence and customer migration to scale in the next phase. It also prevented distractions from business-as-usual activities and preserved focus.
Talent and culture
are critical
Working with McKinsey
—Steve Jurkovich, Chief Executive, Kiwibank
Learning through action is the most effective approach. Momentum plays a crucial role in achieving success, especially when building and progressing rapidly. Conversely, stalling, overthinking, and excessive analysis in areas that inherently involve ambiguity can lead to wasted time, lost momentum, and diminished organizational confidence.”
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