The platform may have been designed to transform the institution, but often, the institution ends up redesigning the platform instead.

Two institutions purchase the same digital account opening platform from the same provider. One can open accounts in just 3 minutes, while the other takes at least 9 minutes because it still requires a legacy ID step within the new technology. The provider and the solution are the same; only the results differ.

Jim Marous explores why many digital banking investments deliver exactly what was promised but still leave the institution no better off. Drawing on the barbell concept in digital maturity research from Alkami Technologies linked below, where the largest institutions and the strongest smaller ones consistently outperform the middle, he outlines the three conditions no provider can own for a financial institution: the destination, the discipline to protect the intended result, and the ownership that ensures a decision is carried through the building process.

Report: https://www.alkami.com/resources/research/reports/retail-banking-digital-sales-service-maturity-model-report/ Hosted by Jim Marous. Subscribe to Banking Transformed for new episodes multiple times each week.