Craig Wright from Salesforce’s Innovation Technology Center presented a case study on Digital Transformation at Barclays. Criag started the session talking about what is the Digital Wave.
Evidence of the Digital Wave can be seen from companies spending 2.1 trillion dollars on digital transformation. 27,000 digital health apps exist on the Apple AppStore. In terms of maturity, only 5% of companies believe they have achieved differentiation with digital, 90% are experiencing a talent gap when it comes to digital business and 40% of CEOs own the digital business up 2x from 3 years ago.
How are companies catching the wave?
Here are the forces that Craig sees:
- Culture & Skills
- Information & Insight
- Technology & Cloud
- Service design to delight customers
- Innovation – companies allow employees time to think and experiment
- Governance – they create governance models that enable higher rates of iteration
- Embrace ecosystems to foster new relationships
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Owen Gardner is Barclays Head of Experimentation talked about how Barclays address these forces to innovate. For example, Barclays was the first to introduce ATMs and then the first to introduce Credit Cards in the UK.
Six reasons why digital is a CEO agenda
- Security is paramount
- Customer Expectations are constantly changing and becoming more sophisticated
- Regulations are critical and becoming more challenging to meet
- New Competition from non-banks like Apple Pay and other countries
- Efficiency from new technologies to drive down cost and become more timely
- Talent is scarce and employees want great experiences too
Barclays introduced several products/concepts aligned to the drivers listed above:
- Digital Eagles, which is a personalized help service designed to raise the digital savvy-ness of a wide section of the customer base, including children to want to learn to code, people wanting to do more online and wanting to learn face tot face.
- Digital Wings is a digital education learning program making it easy for customers to learn. It is slightly gamified to make it more fun and informative.
- bPay Family for Great Britain athletes to pay for items while at the olympics
- Legal Eagles help Barclays drive changes in legislation to enable checks to be handled in new ways.
- Co-Lab/Eagle Lab are new workspaces for employees to collaborate more and help with innovation. Co-Labs are for internal employees while Eagle Labs are for people in the community and are located in the branches.
- Experimentation and Strategy – Barclays has an innovation center that works on business requirements to rapidly assess the validity of strategies, ideas and thoughts. The ITC is multi-disciplinary teams coming together, not being seduced by detail and designing the future.
- Design Patterns – Barclays has made a significant effort to embrace human-centric and visual design through design centers and a design culture.
- thinkrise.com is a community run by Barclays that includes the worlds brightest thinkers and doers
- Barclays became the first non-tech platinum sponsor of DevOps Days London in April, which shows how important technology talent is at Barclays.
With all this innovation, what’s next for Barclays? Owen said that social platforms is a new area for Barclays to engage with customers. Another area is in containers to help accelerate technology.