Out of the garage—a new digital bank
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Impact Story

Out of the garage—a new digital bank

Back to How We Help Clients
Impact Story

Out of the garage—a new digital bank

In a developing country with soaring internet connectivity and 25% more mobile devices than people, we helped launch the first fully digital bank.

Inside a newly designed innovation space (the ‘garage’), a joint McKinsey and client team began defining what the new company should do, and be. Within the first two months the team had landed on a customer segment to serve, an operating model for the new bank, and had onboarded key staff and alliances to kick off the build phase.

Over the next 14 months, our engineers, designers and business teams worked hand in hand with the client to build the bank top to bottom.

Our engineers, designers, and business teams worked hand in hand with the client to build the bank from the ground up.

Life in the garage: in only 16 months the team...

  • defined the strategy and value proposition for the new bank
  • designed a new visual identify to differentiate from the parent company, including new color scheme, typeface, logos, and marketing collateral
  • built new products to attract the new segment of customers
  • transformed existing IT systems and built new components where needed, using the latest DevOps and agile practices
  • hired and trained a top-notch team to run the new bank after launch

Impact at launch

3.4

million

YouTube views of launch video in 2 months

19

million

impressions on social media

#1

trending topic

on Twitter and App store

Capability spotlight

Digital Business Building

A new approach to reinvention: we kick-start the transformation with Digital McKinsey product teams and interim management, building and operating a new digital organization. As we hire top talent into the group, we gradually scale down our team, transferring a fully functioning digital unit back to you.
Digital Business Building

Examples of our work

From empty warehouse to digital business

Recovering from a major cybersecurity attack

Turning machine learning into action pays off

A new Internet of Things platform and business

Out of the garage—a new digital bank

Transforming customer experience in wealth management