Keeping you on the map in the evolution of money
As the competitive landscape shifts from traditional electronic transactions to modern digital engagement, and money merges with the internet becoming a streaming phenomenon just as music, movies, and mail have in our lifetime, the time to secure your sound strategy is now!
Discrete and disjointed apps and channels for new members and accounts, loan applications, mobile banking etc., are quickly becoming your dad’s Oldsmobile (and your Razr flip phone!) as money becomes data and secure, valuable services like BNPL, local rewards, and digital wallets take off. Tectonic events in economies, banking, and the money industry are driving paradigm shifting plans and products which will be wildly disruptive if our community financial institutions have not at least modestly contemplated strategies to embrace money-data merging with the internet. After all, a U.S. CBDC is already in beta!
DaLand’s Strategy Mapping process is the first step to move your institution from restrained to relevant, by prioritizing the transition from the electronic era into the digital future of banking.
Renowned business thinker Roger Martin defines strategy in two parts; first, decide where you will compete and second, determine how you will win. Where and how! Martin’s questions could not be timelier for the banking industry. Like money itself, your consumers’ banking activity and even their “mental availability” is coalescing online. Where and how you compete in finance today has little analog to the past of physical branches and electronic channels and platforms. These questions demand a novel approach to strategy.
Where. Today’s digital landscape is the spark that inspires innovation. Large institutions (like Bank of America, JP Morgan Chase, Citi Group, Wells Fargo, and BNY Mellon), Central Banks, Fintech start-ups and Neo Banks are already there. It’s not that these institutions have extraordinary capabilities, they simply embody consumer migration from the physical world into the virtual dimension and, importantly, they are not married to legacy investments of the electronic era. Banking, and your communities’ sustainability and relevance, requires seamless experiences grounded in, and inspired by your core and data. Powered by DaLand’s Core Centric Philosophy, Strategy Mapping inspires our partners and energizes their operations to embrace modern strategies that meet their members where they are now, seamlessly and fluidly with the insight and intelligence of all data working in harmony, relegating the practices of the past to uncover transformative opportunities.
How. The era of outsourced channels and platforms is over. Obscured by the hype, today’s ‘trend chasers’ are busy re-packaging tired strategies, still claiming to ‘transform your digital experience’ the old-fashioned way, by sub-dividing and further segregating data away from your core. DaLand’s Strategy Mapping is designed to help your FI prioritize rebuilding legacy, platform-based systems with modern money and banking products and services to serve your communities, as money itself fuses with the internet. Decentralized finance is thriving and it’s imperative that you immerse your institution—and your members—in the future of finance, both to educate and to pave a critical path to build secure systems and processes that will integrate DeFi with TradFi. Traditional banking operations historically assume that money lives in vaults and trades hands through tellers, armored trucks, and plastic cards. DaLand is here to help keep your FI on the map, securing your position of relevance as banking operations shift to the understanding that money now lives on the internet and moves digitally from wallet to wallet.
Don’t get lost and left behind as money moves beyond your traditional banking operation. Together, we’ll define and document your strategy, analyze your operational alignment, and build digital operations that honor the past and extend your value into the virtual world, where your consumers live.