When it comes to sourcing Digital Transformation talents for the APAC banking sector, it is essential to provide candidates that can transform the “business, technology & market” trio with durable acquisition and profit growth.
This mission has presented me with the opportunity to speak to hundreds of innovative and insightful professionals with a lot to say on the topic. Below, I’d like to share some of the trends I have gathered from these valuable exchanges.
Most retail and wealth management banks have been developing their digital capabilities for a while now. Obviously, some banks are further along than others, but many have arrived at the same conclusion, requiring customer-centric digital strategies to drive growth, adapt to demand and differentiate their positions in the marketplace.
This operational context has led to banks looking for specialist profiles, typically outside of their own industry. Today, the technology, telcos, internet, automotive and travel industries are just a few of the talent pools that banks target.
The profile types currently trending are:
Digital Acquisition enablers
Their responsibility is to ensure growth in digital acquisition through certain types of products. They are expected to efficiently target and measure progress, as well as utilise instore working methodologies that are clearly sales-driven. It goes without saying that enablers need to have a strong focus on the customer journey throughout the entire process.
Partnership hunters
Their responsibility is to assess the current technology and change tools available in line with the overall transformation maturity of the business. If something is lacking internally, a solution may lie externally. It is then a matter of finding out where the solutions can be found and how to bring them in. This could be a case of business transaction, investment, consulting, IP acquisition or other forms of partnerships.
Whether gained from the two roles above, or through strong product/project/program/innovation talent, some competencies are absolutely crucial to the impact:
- Sales acumen to drive and sell projects or ideas internally and externally
- Consumer centricity so as to always care for the customer journey
- Actual Transformation competency for implementing an adequate methodology and framework
- Analytical capabilities to efficiently use and translate captured data
Banks are not always the first choice for such professionals, and I can appreciate that the Googles, Microsofts, Apples and Alibabas of this world are more conventionally appealing. In truth, most banks are not digital-first businesses, they are complex environments – but packed full of opportunity. A move into the banking world will not only leave a Digital Transformation professional significantly more mature, but also with increased visibility and a highly differentiating skillset.
I look forward to exploring this topic even further as I work to attract talent in the banking industry. Please feel free to share your thoughts with me; I am always keen to hear new ideas! You can reach me on +85237085528 or at Loic.andre@ojassociates.com.
