IFC Partnership for Financial Inclusion Field Note: Changing change management

Published on

November 27, 2018

The changes involved when a financial institution ‘goes digital’ touches all levels of the business and may even challenge the established business model or institutional identity. The successful implementation of a digital channel thus requires a sound change management plan. Many digital projects that failed or struggled have done so because they did not adequately address change factors such as staff expectations and resistance to change.

IFC's latest Field Note, Changing change management: adapting internal and external culture in times of digital transformationfocuses on the ‘soft’ or interpersonal aspects of digital transformation in the financial sector. It is based on the collective experiences of nine financial institutions over four years and across seven African markets, and presents some concrete advise on how to get change management right to ensure the successful implementation of digital financial services for greater financial inclusion. 

About the Author(s)

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The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. All people, no matter their starting point in life, should have an equal chance to succeed. MCF believes that with access to education, financial services, and skills training, people can have that chance. The foundation focuses on helping economically disadvantaged young people in Sub-Saharan Africa find opportunities to move themselves, their families and their communities out of poverty to a better life.

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