The Technology Fallacy in Banking
Everyone is talking about how critical technology is in banking. But, as author Jerry Kane suggests, it could be a fallacy. He says that banks need to understand their "digital DNA", instead of just trying to "do digital" like everyone else.
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FEATURING: Gerald (Jerry) Kane, visiting scholar at the Harvard Business School and professor at the Boston College Carroll School of Management
Digital technologies are disrupting organizations of all sizes, leaving leadership scrambling to find the right technologies to keep pace with market demands. Unfortunately, simply buying the best or newest technology will not create digital transformation success by itself.
Beyond technology, it is imperative to implement the right organizational changes that can harness the power of the new technologies. In other words, digital disruption is primarily about people, organizational dynamics and culture.
Today’s podcast features Gerald (Jerry) Kane from Boston College. Jerry is one of the 4 authors of the exceptional book, ‘The Technology Fallacy’. This book draws on 4 years of research between MIT Sloan Management Review and Deloitte that surveyed 16,000 people and included interviews with companies like Walmart, Google, Salesforce and several other top brands.
Kane emphasizes that every organization needs to understand its "digital DNA" in order to stop "doing digital" and start "being digital." He proposes that the best way to respond to digital disruption is by changing the company culture to be more agile, risk tolerant, and experimental.
About the Banking Transformed Podcast
In each Banking Transformed podcast, host Jim Marous has candid conversations with the world’s foremost leaders on what it takes to transform financial institutions during an age of digital disruption. His guests discuss technology, channels, innovation, customer experience, leadership, culture and competitive forces that are changing the banking industry faster than ever before.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the Digital Banking Report. The Digital Banking Report is a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the As a sought after keynote speaker, author and recognized authority on disruption in the financial services industry, Marous has been featured by CNBC and CNN, Cheddar, The Wall Street Journal, New York Times, The Financial Times, The Economist, The American Banker and has spoken to audiences worldwide. Jim has also advised the White House on banking policy.
