When we think of the old way of doing business as a financial brand, it’s helpful to envision a growth pyramid. Three-fifths (at least) of the pyramid is built around the legacy branch, sales, and broadcast marketing model. Then, when digital came on the scene, digital was bolted onto the pyramid, retrofitted to the old structure. Are we looking to destroy the old model entirely and start from scratch? No. Rather, what we’re trying to do is flip the growth pyramid upside down: transform the entire growth model so it’s now three-fifths digital and two-fifths physical—at a very minimum—as digital becomes the primary driver for growth, regardless of whether someone applies online, calls into a call center, or comes into a physical branch location to apply for a product. Digital is at the heart of the consumer buying journey. With the new pyramid, your growth model will reflect that. In fact, maybe digital might become four-fifths—or even 100 percent—of your growth pyramid.

1. What Does it
Mean to
Transform the
Legacy Growth
Model?

2. Traditionally we have
see a model built
around the physical
branch.

3. Envision a pyramid.

4. When digital entered
the scene, it was
simply bolted onto the
bottom of the
pyramid.

6. We must transform
our old way of
thinking.

7. We don't mean
destroy the pillars of
the past.

8. But, flip the pyramid
upside down.

10. Digital becomes the
primary driver for
growth.

11. Beyond online and
mobile banking...

12. But asking ourselves...

13. How are we acquiring,
nurturing, converting,
and retaining
relationships?

14. What systems and
processes are in place?

15. How do we unify our
marketing, sales,
operations, and IT
teams?

16. Elevate the
conversation beyond
technology.

17. Because digital is at
the heart of the
consumer buying
journey.

18. For more strategies on
breaking free from the legacy
model, check out
Banking on Digital Growth