During the first week of August, we travelled to Bishkek where we held a digital transformation roadmap for Kompanion Bank in Kyrgyzstan. It was a fascinating and highly productive experience for everyone involved.
The scope of our work involved aligning a strategy definition and execution plan to empower their brand on the digital landscape. We discussed the future of finance and developed a strategy better suited for the upcoming changes in the industry. Different topics were covered in a 2 day workshop with an out-of-the-box mentality. In this workshop, we talked about the present and future of finance, talent, culture, organization and leadership.
Our main goals for the week to design a digital strategy forward were:
- To gain understanding of Kyrgyzstan’s market
- Uncover opportunities through digital transformation
- Review of information technology stack to define steps towards 3rd party integration
What is digital transformation? (Here’s definition for those who don’t know yet): Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements.
Digital Transformation Process
In FinConecta, we believe there are 5 Domains of Digital Transformation
Even though each domain is presented separately, they are all intertwined in such a way that a successful Digital Transformation cannot be achieved if they are not all effectively and holistically developed.
Digital Maturity Measurement
During the early stages, we use our Digital Transformation Readiness Assessment. This tool is designed to assess the current readiness status of Digital Transformation. It provides a deeper understanding of current challenges and opportunities, as a first step to design an immediately executable Digital Transformation strategy.
With every client, we agree to voice opinions and challenge ideas. We believe a strong communication between both parties leads to great benefits. A better understanding of our client’s challenges and opportunities leads to a more efficient path to solutions.
We’re very excited to venture into this journey with Kompanion Bank and hope to achieve great successes along the way.