NCB jump-starts digital transformation
NATIONAL COMMERCIAL Bank Jamaica Limited (NCB) has welcomed more than 200 persons across private and public sectors for presentations and discussions about jump-starting digital transformations in Jamaica.
The second digital symposium, which took place in Kingston at the Spanish Court Hotel, included presentations on how to jump-start your businesses, cybersecurity, upskilling and reskilling for a digital society, and the National Identification System.
In June 2018 at the UWI, Mona School of Business and Management Round Table, Professor Evan Duggan and Dr Maurice McNaughton shared research results highlighting that less than five per cent of the companies listed on the Jamaica Stock Exchange have an explicit digital agenda. Hence, the need for constructive conversations about mindset and business process shifts enabling change is essential for future success.
“The digital symposium is one of NCB’s initiatives for supporting Jamaica’s digital transformation. We have a vested interest in wide-scale digital transformation because of the benefits it unlocks for our customers,” says Nadeen Matthews Blair, NCB’s chief digital and marketing officer.
NCB has seen the benefits of its own digital transformation, which started in November 2015 with the objectives of enhancing customer experiences, improving organisational efficiency, and creating a viable business model for the future. The successes so far would not have been possible without the input from customers and partners.
“It is through partnership with eGov and a local fintech that NCB was able to create a deposit account opening experience of 15 minutes for customers with drivers’ licences. At self-service tablets in-branch, we autopopulate customer information, which is one component of the reduced processing time. Therefore, helping our partners to become more digital in turn helps our customers,” Matthews Blair said.
Digital transformation should no longer be considered an initiative undertaken only by large corporations, but small and medium-sized enterprises and government entities must thrive to harness the power of technology to create new and disruptive business models and enhance existing processes.
“Beyond the impact on our customer journeys, companies that embark on a digital transformation can expect to benefit from productivity improvements, growth, increased customer loyalty, and resiliency to disruption as NCB has already begun to experience,” Matthews Blair said.
“At a macro level, we see opportunities to improve productivity and to increase job growth. As a large Jamaican corporate, we believe digital transformation is a national imperative, and we are here to catalyse and support this movement,” she added.