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22.11.2018

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    B currency

    CYBG

    The CYBG Accelerator Team aim to embed new innovative tools, methods and ways of working in CYB. Our mission is to deliver new customer centric products and services at speed to the market, whilst proving the value of doing things differently. The B currency app was a vehicle for this.

    What objectives did you set out to achieve?

    We set out to embed innovative new ways of working, methods and tools into CYB. Our ambition was to use opportunities to build new products and services, involve the business in the journey and prove the value of thinking in different ways, we chose B Currency project to do this. Our objectives were:

    • Prove we can challenge assumptions and deliver new propositions in short timeframes
    • Expand the application of design thinking within the bank, proving its value to employees
    • Launch products that can demonstrate they are commercially viable
    • Think wider than banking and focus on what customers will truly want

    What was your single biggest challenge in achieving them?

    The biggest challenge was to strike the balance between speed, creativity and the safety and security of customers. Whilst we endeavour to find new ways of working, we have to be cognisant of the environment we work in. Even though the bank has established processes and procedures that perhaps could slow us down, we had to find ways of challenging these without cutting corners. We had to show colleagues that there was value in this way of doing things. Convincing colleagues was one part of it, but upskilling them was the real success measure, could we make them think differently?

    What did you do differently to overcome that challenge?

    We opened ourselves up to customers and our colleagues, sharing what we were doing and keeping them updated with progress. We mobilised an army of staff from across the bank, using them as staff testers who tested on their summer holidays, we tested with real customers in Studio B, and we founded Jack & Ed’s Holiday Emporium and set up stall in bank common areas and contact centres, inviting staff to test the POC ; ensuring we made data, and customer, driven decisions at all times. We embeded stakeholders in our team (i.e. Legal, compliance, infosec, DPO) and we involved them in doing things differently.

    What were your most impactful outcomes?

    By adopting New Ways of Working, we went from a blank canvas to a prototyped concept, validated with users in just 4 weeks. In 2 months, we had built a fully functioning proof of concept, and in another 2 months we were live in the app store. All of this was achieved by working with a broad spectrum of colleagues from across the bank and collectively buying into the power of doing things differently. We now have colleagues all over the organisation that act as advocates for what we do.

    In a sentence, what was the biggest learning you took away from this?

    A bank can talk to customers in their own context, rather than a banking context, and still generate commercial return. New ways of Working can be embraced in a traditional banking context.

    What will you do next?

    We are finding new ways to embed new methods and tools. Since the launch of B currency, we are working on new products to help with household spending, staying secure online and helping you find and buy your own home, with New Ways of Working firmly at the centre.

    Find out more about B currency here

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