The banking transformation flywheel

Business models such as value flywheels can have transformative power in the banking industry and can help create momentum for digital transformation.In this episode of ‘Banking Reinvented’, Tim Rutten and Jouk Pleiter discuss how the Backbase flywheel can drive both technological and business improvements in banking. By placing composable banking at the core of a bank’s business model, one can generate a positive loop. This helps reduce technical debt, simplify IT landscapes, and optimize customer journeys, while allowing for the reallocation of budgets towards innovation and differentiation.Join us to learn how banks can grow into technology-centric organizations and drive lasting change.(00:00) - Introduction(03:56) - Explaining the flywheel concept(05:54) - Technology and business flywheels(09:39) - Integrating IT and business flywheels(12:34) - Banks as technology firms(16:05) - Strategic intent and execution(20:30) - Key takeaways(22:12) - Commitment to transformation(23:03) - Episode wrap upFollow us on LinkedIn:-> Backbase-> Jouk Pleiter-> Tim RuttenStep into the future of finance -> Check out our content hub