Leaders at BCP speak of its goal for digital transformation as going to “Planet ExEf” (for experience and efficiency), with new capabilities (digital journeys, data & analytics, cyber risk, etc.) as the enabling engines. BCP brought in McKinsey to help map out and implement a digital transformation using new techniques and approaches, technology modernization, data and advanced analytics, and digital tools that are changing the way people work throughout the bank and the way customers interact with BCP.
From the beginning, BCP’s focus on its twin goals of experience and efficiency never wavered. McKinsey helped BCP identify six priority “plays” to focus on: digital onboarding, digital payments, analytics to drive insights, and overall customer experience, from queries and complaints to credit evaluations for small business clients. Throughout this journey, BCP continually raised the bar on its aspirations.
“Governing a digital company is different than governing a traditional company in terms of budgeting, empowerment, decision making process. And this has a lot to do with leadership and culture.”
—Francesca Raffo, Chief Transformation Officer and Deputy CEO