The aim of this assignment is for you to demonstrate your ability to critically analyze how developments in Fintech threaten or disrupt the business models of incumbent banks, and what it takes for an incumbent bank to compete in this environment.
- What strategic considerations motivate the urgent and aggressive digital transformation initiatives at DBS? What disruptive trends have they identified or are relevant to their business? What growth opportunities does technology present to them? 2. Clarify and critically evaluate the digital transformation vision of DBS. CIO Gledhill is quoted saying that “we are not acting line another bank […] we transform ourselves like a technology company”, and “We want to become the D in GANDALF: Google, Amazon, Netflix, DBS, Apple, LinkedIn, Facebook”. What justifies this shift of focus from traditional banking?
- Identify the main strategies of DBS in relation to customer experience, operations and new business models. Give examples of concrete initiatives to illustrate your point. Are these initiatives truly transformational and impactful for their bottom line and strategic growth, or just snazzy and “nice-to-have”? 4. Describe and critically evaluate how DBS manages innovation internally and open innovation across partner ecosystems (e.g. Fintech startups, their customers, or the public). What does DBS gain from this effort and how much of an impact does it have? 5. What organizational changes has DBS implemented in order to achieve and scale the agility and competence that its digital ambition mandates? How does DBS measure and monitor whether its myriad digital initiatives are aligned with the strategy and contribute to its financial performance and growth targets? 6. Summarize the key lessons that other incumbent banks can draw from DBS. Should the DBS case be a blueprint for all banks? What sorts of challenges do you expect other banks around the world to face as they try to imitate the bold transformation efforts of DBS?
- Word limit: No more than 3000 words. Place the word could at the top of your report. 2. Write one integrated, coherent essay, that answers the above questions. 3. The above questions are offered for general guidance and inspiration. It is up to you to identify the issues you consider important for discussion and critical analysis, in what order, and how much emphasis to place on each. 4. Obviously, you should present a brief general overview of the company and the background to the main events.