There is broad concern in the banking industry that an important share of revenues and the traditional ways of doing business are at risk due to the emergence of fintech startups that are challenging the established players. In the current economic environment, banks are looking to adapt and evolve their business models to meet these challenges and opportunities. Design Thinking is a useful tool that can help banks in their endeavors.
The banking sector is going through a period of disruption, but this not the end of the industry. Instead, this disruption marks the genesis of the banking sector’s new DNA: a combination of changes in business models, agile execution, and Design ThinkingDieter Staib, Partner, Oliver Wyman
In this report, jointly developed by Oliver Wyman and IESE Business School, we address how Design Thinking can be applied to the financial services sector, offer a case study of a Design Thinking project, and identify how the process can be leveraged to capture additional profit pools.
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