IT Strategy Health Check assesses whether a bank’s IT strategy is ready for the fast-changing tech-savvy environment and in line with business strategy.
Business Challenge
We ran the assessment for our client, which is a pioneering bank in the Middle East focusing primarily on innovation and digitalization.
With a vision to lead the international development of Islamic Financial Services, the bank believes that business value can be achieved by executing the business capabilities proficiently, improving its services and safety. Therefore, the bank has developed a 5-year IT strategy to drive business value by defining the vision for cutting-edge technologies and identifying the strategic requirements to execute that vision.
In order to understand whether the bank’s IT strategy is ready for the fast-changing tech-savvy environment, an «IT Strategy Health Check» assessment that compares its IT strategy with business strategies and best global practices was needed.
With a vision to lead the international development of Islamic Financial Services, the bank believes that business value can be achieved by executing the business capabilities proficiently, improving its services and safety. Therefore, the bank has developed a 5-year IT strategy to drive business value by defining the vision for cutting-edge technologies and identifying the strategic requirements to execute that vision.
In order to understand whether the bank’s IT strategy is ready for the fast-changing tech-savvy environment, an «IT Strategy Health Check» assessment that compares its IT strategy with business strategies and best global practices was needed.
How we helped?
The «IT Strategy Health Check Assessment» was conducted with a structured methodology:
1. Structural Assessment
↗ Focus on the «Coverage » of the current IT Strategy
↗ Analyze the coverage in 2 dimensions; Breadth & Depth
↗ Identify further areas to extend the strategy
2. Content Assessment
↗ Focus on the «Consistency» of current IT Strategy
↗ Cross comparison against strategic business initiatives and global trends
↗ Identify pain points and provide key considerations for success
Finally, recommendations which will revamp processes, governance and architecture were provided.
1. Structural Assessment
↗ Focus on the «Coverage » of the current IT Strategy
↗ Analyze the coverage in 2 dimensions; Breadth & Depth
↗ Identify further areas to extend the strategy
2. Content Assessment
↗ Focus on the «Consistency» of current IT Strategy
↗ Cross comparison against strategic business initiatives and global trends
↗ Identify pain points and provide key considerations for success
Finally, recommendations which will revamp processes, governance and architecture were provided.
Results Achieved
↗ An «IT Strategy Health Check» assessment report that highlights areas for improvement and actions that need to be taken for a full-fledged IT Strategy was provided.
↗ PoVs of global banking technology trends ( DevOps, Cloud, Microservices, RPA& AI) were shared and IT strategies were adjusted accordingly.
↗ A detailed roadmap that will allow the bank to execute its strategies was created.
↗ Action points for better execution and governance for the bank were identified and mapped to the roadmap.
↗ PoVs of global banking technology trends ( DevOps, Cloud, Microservices, RPA& AI) were shared and IT strategies were adjusted accordingly.
↗ A detailed roadmap that will allow the bank to execute its strategies was created.
↗ Action points for better execution and governance for the bank were identified and mapped to the roadmap.
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