IT strategy and digital transformation
Far-reaching changes in the financial services industry (FSI) – from a market, technology and organizational perspective – require a new IT delivery model. The module derives a comprehensive new model from IT strategy and the CIO agenda to its concrete design and implementation.
Along the three pillars of “business and IT architecture”, “IT management” and “IT governance”, the challenges of IT work in the area of conflict between maximum delivery capability and growing regulatory requirements are demonstrated, using scientific principles and numerous practical examples.
A particular focus is on the opportunities and risks of digital transformation.
The module includes an introduction to relevant technology trends such as big data analytics, machine learning, distributed databases/blockchain, voice interfaces, augmented reality and sensor networks as well as corresponding (agile) work modes and frameworks such as SAFe. In addition, new ways of thinking in the FSI with a focus on customer journey, added value and customer experience are also covered.
Module content
IT strategy – introduction to objectives, content and value-adds
- Three blockbuster topics: digitalization, regulation and complexity – requirements and opportunities
- CIO agenda – interaction of organization, IT and corporate strategy
- IT strategy scope – content-based and regulatory requirements
- From IT strategy to concrete implementation – goals, core tasks, procedures and reference models as well as practical examples along the pillars:
• “Business and IT architecture” – What do institutions need in terms of IT and organizational support?
• “IT management” – How should IT services be delivered?
• “IT governance” – How are performance, adherence to the budget and risk-bearing capacity ensured?
Digital transformation – opportunities resulting from new technologies and business models
- New ways of thinking in the FSI – focus on customer journey, added value and customer experience
- Positioning of IT as a driver of innovation and a major force in research and development
- Agile alignment of the IT organization with continuous development through interdisciplinary teams
- Integration of an agile IT unit into an agile overall organization via scaled agile framework
- Introduction to relevant technology trends, such as big data analytics, machine learning, distributed databases/blockchain, voice interfaces, augmented reality, and sensor networks
- Critical review of technology trends in terms of use cases for the future of financial services
- Value creation in networks and API banking
The ability to combine all the relevant building blocks and opportunities for transforming IT in the FSI into a coherent overall picture.
