Overview

Traditional banks are facing unprecedented disruption from challenger banks today. So why aren’t more of them launching challenger banks of their own? Well, two high-profile examples – JP Morgan’s Finn and RBS’s Bo – were launched with much fanfare, but both shuttered after less than a year. In light of this, the success of TMRW digital bank by UOB, launched in Thailand in 2019 and Indonesia in 2020, is astonishing. Dr Dennis Khoo, who created TMRW, shares with us the thinking behind the design of this revolutionary undertaking. At every step of the way, he and his team went against established paradigms and bucked conventional wisdom to build ASEAN’s first digital bank. Filled with visionary analysis and on-the-ground guidance, Driving Digital Transformation demonstrates how this success can be replicated across all industries. For any leader or organisation starting on a major digital initiative, this book is a must-read. What makes this playbook particularly valuable is that it is written by Dennis Khoo, one of the sharpest minds in the industry. – Mary Huen, CEO, Standard Chartered Hong Kong

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9789814974585

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Reviews

What makes this playbook particularly valuable is that it is written by Dennis Khoo, one of the sharpest minds in the industry. --Mary Huen, CEO, Standard Chartered Hong Kong Everyone is doing digital transformation today. Yet Dennis brings the rare combination of real experience in building digital banks and the thought discipline to organize it for us into this step-by-step, end-to-end playbook. Because it is rooted in evergreen principles covering customers, technology and leadership, I can see his approach applying to businesses beyond Fintech. A tour-de-force of thought discipline and comprehensive pragmatic advice. Highly recommended! --Tsun-yan Hsieh, Founder & Chairman, LinHart Group, Former Senior Partner and Global Leader of McKinsey's Organization and Leadership Practice Driving Digital Transformation articulates the future of banking and what banks must do to survive in the clearest, most compelling and thought-provoking way that I have come across. The principles described in the book are not just the typical anecdotes but a well-thought-out methodology on how to look at the transformation challenges. I believe it is a must-read for CEOs of any company facing the threat of digital disruption. David Sosna, CEO, Personetics Congratulations! You hold in your hands an amazing case study of a traditional enterprise that took on the challenge of building the first digital-native bank for the ASEAN market. It's a story that delves deeply into the challenges and opportunities for Asian business in the digital era. With an insider's view, Dennis Khoo shares key decisions made - in business model, design, technology, culture, and organizational process - with lessons that are applicable for any traditional business pursuing digital transformation. --David Roger, Best-selling author of The Digital Transformation Playbook and Faculty at Columbia Business School Dennis is a professional I deeply respect. It is a real honour to learn from his long experience in building, running and transforming digital banking and digital banks. He has a unique combination of deep knowledge in technology and banking, systems thinking to pull together interactive components and practical experience running the businesses. I hope this book will be a great support and help to the many people who are building, running or transforming digital banks or digital banking, and more broadly who want to make a real business difference in the fast-changing digital world. --Jungkiu Choi, Partner and Managing Director, Boston Consulting Group

Author Information

Dr Dennis Khoo was group head of TMRW Digital Group (UOB’s Millennial digital bank), where he was responsible for the strategy, growth and delivery of TMRW Digital Bank, which won Global Finance’s Most Innovative Digital Bank in Asia Pacific award in 2019. Dennis holds a PhD in Business Administration and a Doctor of Philosophy for his work in International Business. He is a WABC (Worldwide Association of Business Coaches) Registered Corporate Coach, and he has mentored and coached many successful executives in his long career. Awards IBF Distinguished Fellow Award in 2012. Customer Experience Professional of the Year (2019) by The Digital Banker.

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