Digital Readiness: Important Steps to Achieve

Digital Readiness: Important Steps to Achieve

Due to the pandemic, banks, credit unions, and other financial institutions are forced to accelerate changes at an incredible pace to meet the demands for the completely digital banking experience. In addition, the requests for online access, digital collaboration, and exceptional member experience have brought “digital readiness” into the picture. Digital Readiness is defined as the readiness of an organization’s workforce to transition into digitized workflows that are software and technology-driven. 

Randy Ziegler led the discussion at CULytics on Digital Readiness. He holds three decades of experience in the industry and worked across different work profiles. Other panelists in the discussion were:

  • Jennifer Bolivar, Vice President at Suncoast credit union, holds experience handling application development teams. 
  • Ben Maxim, Vice President at MSUFCU, holds good experience in development and product launch.
  • Devon Lyon, Senior Vice President at Direct Federal CU, holds expertise in strategic planning and program implementation.

 Here are a few key takeaways from the session, which focused on the must-haves for digital readiness:

  • Vision: It is essential to understand what is required and where to go. Strategies in combination with timely and proper execution can achieve better results.
  • Continuity: Systematic and continuous process is a must. Look at what is in-house and the demand; based on this, measures can be taken, and progress can be achieved.
  • Technology: It works hand-in-hand with the strategy. Getting and using the best-in-class technological tools and software can help achieve the goals of digital readiness.
  • Awareness: To provide the best service, it is necessary to understand the situation. The key to creating a win-win situation in operations is to raise awareness among the in-house team.
  • Adaptability is about how quickly one can adapt and solve new challenges. So, taking an interest in knowing what is offered to the customers and adapting the same to deliver the best is adaptability.
  • Manpower: The team is equally important for digital readiness, not just technology. So, keep the workforce updated and conduct regular sessions to help them serve the customers.
  • Organization: Organizing the system and people in it is the best way to reap the benefits of technology. Know what is essential and needs to be done first to maximize customer satisfaction.
  • Mindset: Culture plays a vital role in the transformation of an organization. Work with similar mindset people to fly high in the area of operations. 
  • Communication: Communication is the key to keeping things in favor. Be interactive with partners, customers, and members as these are the elements that help create a good image in the market.

Digital readiness is essential for credit unions as many times; CUs look for solutions that need to be delivered soon. So, it is crucial to be ready to take advantage of digital tools to serve the best to the customers and members of an organization. In addition, treat the partners not as vendors to be managed but as a part of a team. Learn every day to earn and achieve new milestones. Don’t be afraid of failure; learn from it, embrace it to reach new heights of success. Communication is like oxygen for digital readiness; don’t forget. At any point in time, if it is felt that taking help is vital to surviving the situation, so never hesitate; go and get it. 

 

To find the full keynote video, click here https://culytics.com/articles/digital-readiness

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