1 month, 2 days ago

Bancolombia: Coordinating Multiple Digital Transformations

Link: https://cisr.mit.edu/publication/MIT_CISRwp455_Bancolombia_DiazBaqueroWoerner

Abstract:

Bancolombia is the largest commercial bank in Colombia and one of the largest in Latin America. This story traces Bancolombia’s journey as it embarked on a wide-ranging digital transformation that encompassed the implementation of an ecosystem strategy and the launch of a neobank—an entirely online bank. It highlights how Bancolombia used Nequi to learn how digital-only banks worked and to challenge Bancolombia’s traditional ways of working. It also describes the platform work that Bancolombia did to accomplish its ecosystem strategy.

Publication date:

Publication type: Working Paper, Case Study

Publication authors:
Andrea Patricia Diaz Baquero
,
Stephanie L. Woerner