Reflection – Learning Launch

Challenge

I work in one of the major American banks. I work in the finance department and our duties are  controls and processes. So inherently our mindsets were built and trained for efficiency and  uncertainty avoidance.

The recent initiatives in digital transformation is the greatest challenge for the whole department,  for reasons:

1. Many in the department have their entire career on the same job – they have very narrow  repertoire.

2. They do not understand new technology, some don’t even want to learn. They do not appreciate  how innovation can change their work for the better.

3. Many have “Fixed mindsets”; even all of us are financial specialists which know our trade very  well. Few have the kind of “Growth mindsets” which appreciate learning and ready for the era of  digital transformation.

I have always been tech-savvy and passionate about using technology to transform the traditional  finance industry. After I took a master’s degree in data Analytics, I was nominated as part of the  leads in this digital transformation initiative.

There are challenges we faced in 3 main areas. Attitudes, Talents, and business ideas.

Selection

I want to talk about Learning Launch because this whole digital transformation was something alien  which never exist before in our department. And none of our leaders had the expertise to lead one.  So, a learning process is the best way to approach it. We are going into the unknown and the dark,  so might as well take smaller steps and try to make it right.

Application

Instead of making a full bloom plan and change the way we work overnight all-together, we decided  to take an approach which is more iterative and inclusive. We think digital transformation is not a  switch of a button. It is a change for everyone, and we should be all learning and experimenting  what works for each of us.

These are the launches we attempted:

Civilian-driven digital community

We understand not everyone have the same skillset to prepare for the transformation and not  everyone wants to have the same level of involvement. But we believe that if we want inclusion and  innovation, we need to include more employees and let them be the part of the movement; design  together the changes to come.

We asked for volunteers to join the planning and design before we even have solid plan. This soften  the rigid attitude people have toward the transformation and make people feel they are part of it. As  time goes, it even surprises us with the hidden talents which we didn’t know about. From there a lot  of good ideas were generated.

Use case based idea generation

Instead of investing millions of dollars on a new system solution to imagine it can change everything,  we are taking an alternative approach.

We first spent time on upskilling our staff in digital tools, introducing data-centric mindset. And then  we slowly let our employees which are also the end user of the digital product, to come up with idea  and specifications to build a solution. Our work as manager was to link up the digital community and  technology to build a prototype for the use case owner. In some case it worked, and we could scale  the solution to other business. Some we could use the prototype technical specification to build it  into the main system framework.

Insight

It was a slow iterative process and we let failures happen.  Yet they are managed at low cost. As  employees operate these projects on a volunteer basis; anything is a bonus and failure does not hurt  one’s career. We are satisficing efficiency but, in the process, everything is a learning and I think it is  also part of the digital transformation.

Approach

Result delivery became an issue as we let things happen too organically.

This year we have set up a team focus on idea management and keeping track of how far and how  well we are doing on these ideas. I think this is part of the “What’s work” in design thinking which  we did not do very well.


Reflection – Learning Launch Challenge I work in one of the major American banks . I work in the finance department and our duties are controls and processes . So inherently our mindsets were built and trained for efficiency and uncertainty avoidance . The recent initiatives in digital transformation is the greatest challenge for the whole department , for reasons : 1 . Many in the department have their entire career on the same job – they have very narrow repertoire . 2 . They do not understand new technology , some do n’t even want to learn . They do not appreciate how innovation can change their work for the better . 3 . Many have “ Fixed mindsets ” ; even all of us are financial specialists which know our trade very well . Few have the kind of “ Growth mindsets ” which appreciate learning and ready for the era of digital transformation . I have always been tech - savvy and passionate about using technology to transform the traditional finance industry . After I took a master ’s degree in data Analytics , I was nominated as part of the leads in this digital transformation initiative . There are challenges we faced in 3 main areas . Attitudes , Talents , and business ideas . Selection I want to talk about Learning Launch because this whole digital transformation was something alien which never exist before in our department . And none of our leaders had the expertise to lead one . So , a learning process is the best way to approach it . We are going into the unknown and the dark , so might as well take smaller steps and try to make it right . Application Instead of making a full bloom plan and change the way we work overnight all - together , we decided to take an approach which is more iterative and inclusive . We think digital transformation is not a switch of a button . It is a change for everyone , and we should be all learning and experimenting what works for each of us . These are the launches we attempted : Civilian - driven digital community We understand not everyone have the same skillset to prepare for the transformation and not everyone wants to have the same level of involvement . But we believe that if we want inclusion and innovation , we need to include more employees and let them be the part of the movement ; design together the changes to come . We asked for volunteers to join the planning and design before we even have solid plan . This soften the rigid attitude people have toward the transformation and make people feel they are part of it . As time goes , it even surprises us with the hidden talents which we did n’t know about . From there a lot of good ideas were generated . Use case based idea generation Instead of investing millions of dollars on a new system solution to imagine it can change everything , we are taking an alternative approach . We first spent time on upskilling our staff in digital tools , introducing data - centric mindset . And then we slowly let our employees which are also the end user of the digital product , to come up with idea and specifications to build a solution . Our work as manager was to link up the digital community and technology to build a prototype for the use case owner . In some case it worked , and we could scale the solution to other business . Some we could use the prototype technical specification to build it into the main system framework . Insight It was a slow iterative process and we let failures happen . Yet they are managed at low cost . As employees operate these projects on a volunteer basis ; anything is a bonus and failure does not hurt one ’s career . We are satisficing efficiency but , in the process , everything is a learning and I think it is also part of the digital transformation . Approach Result delivery became an issue as we let things happen too organically . This year we have set up a team focus on idea management and keeping track of how far and how well we are doing on these ideas . I think this is part of the “ What ’s work ” in design thinking which we did not do very well .