Harvard Case - Building an agile organisation at ING Bank Netherlands: from Tango to RIO
"Building an agile organisation at ING Bank Netherlands: from Tango to RIO" Harvard business case study is written by Julian Birkinshaw, Scott Duncan. It deals with the challenges in the field of Strategy. The case study is 23 page(s) long and it was first published on : Sep 1, 2016
At Fern Fort University, we recommend ING Bank Netherlands adopt a comprehensive approach to building an agile organization through a phased implementation of the RIO framework. This involves a strategic shift towards a more customer-centric, data-driven, and technology-enabled organization, while fostering a culture of innovation, collaboration, and continuous improvement.
2. Background
This case study explores ING Bank Netherlands' journey towards becoming a more agile organization. The bank, facing increasing competition and evolving customer expectations, sought to transform its operations to better adapt to the changing market landscape. The case highlights their initial efforts with the 'Tango' program, which focused on streamlining processes and improving efficiency, but ultimately lacked the desired impact. Recognizing the need for a more fundamental shift, ING embarked on the 'RIO' program, aiming to foster a culture of innovation, empower employees, and leverage technology to deliver exceptional customer experiences.
The main protagonists of the case study are:
- Eelco van Asperen: CEO of ING Bank Netherlands, driving the organizational transformation.
- The RIO team: A group of individuals responsible for designing and implementing the RIO program.
- ING employees: The key stakeholders who are directly impacted by the changes brought about by the RIO program.
3. Analysis of the Case Study
The case study can be analyzed using several frameworks:
1. Strategic Framework:
- Competitive Advantage: ING's competitive advantage lies in its strong brand recognition, extensive customer base, and its focus on digital transformation. However, it faces increasing competition from fintech companies and other traditional banks.
- SWOT Analysis:
- Strengths: Strong brand, extensive customer base, digital capabilities, global reach.
- Weaknesses: Bureaucratic culture, siloed departments, slow decision-making processes.
- Opportunities: Growing demand for digital banking services, emerging markets, technological advancements.
- Threats: Competition from fintech companies, regulatory changes, cybersecurity risks.
- Porter's Five Forces:
- Threat of New Entrants: High, due to the emergence of fintech companies and the ease of setting up online banking services.
- Bargaining Power of Buyers: High, as customers have many choices and can easily switch providers.
- Bargaining Power of Suppliers: Low, as ING has access to a wide range of suppliers.
- Threat of Substitutes: High, as alternative payment methods and financial services are becoming increasingly available.
- Competitive Rivalry: High, as the banking industry is highly competitive, with many players vying for market share.
- Value Chain Analysis: ING's value chain can be analyzed to identify areas for improvement, such as streamlining processes, enhancing customer service, and leveraging technology to create value.
- Business Model Innovation: ING needs to innovate its business model to adapt to changing customer needs and competitive pressures. This could involve exploring new revenue streams, expanding into new markets, or developing innovative products and services.
2. Organizational Framework:
- Organizational Culture: ING's culture was initially characterized by bureaucracy and siloed departments. The RIO program aims to shift this towards a more collaborative, innovative, and customer-centric culture.
- Organizational Structure and Design: The RIO program promotes a more agile and decentralized structure, empowering teams to make decisions and take ownership of their work.
- Leadership: Effective leadership is crucial for driving change and fostering a culture of innovation. The CEO's vision and commitment are essential for the success of the RIO program.
- Change Management: Implementing significant organizational change requires a well-defined change management strategy that addresses employee concerns, provides training and support, and celebrates successes.
3. Technological Framework:
- Technology and Analytics: ING leverages technology and data analytics to improve customer experience, enhance efficiency, and gain insights into market trends.
- Digital Transformation: The RIO program is a key part of ING's digital transformation strategy, aiming to leverage technology to create a more seamless and personalized customer experience.
- AI and Machine Learning: ING can explore the use of AI and machine learning to automate processes, personalize services, and improve risk management.
4. Recommendations
ING Bank Netherlands should implement a phased approach to building an agile organization, incorporating the following key elements:
Phase 1: Foundation Building (6-12 months)
- Define a clear vision and strategy: Develop a comprehensive strategy for building an agile organization, aligned with the bank's overall business objectives.
- Establish a dedicated RIO team: Create a cross-functional team responsible for leading and managing the RIO program, with clear roles and responsibilities.
- Develop a strong change management plan: Communicate the vision and benefits of the RIO program to all employees, address concerns, and provide training and support.
- Pilot the RIO framework in selected departments: Implement the RIO framework in a few pilot departments to test its effectiveness and identify areas for improvement.
- Invest in technology and data analytics: Upgrade IT infrastructure and invest in data analytics tools to support agile processes and decision-making.
Phase 2: Scaling and Integration (12-18 months)
- Roll out the RIO framework across the organization: Gradually expand the implementation of the RIO framework to other departments, ensuring consistency and alignment.
- Foster a culture of collaboration and innovation: Encourage cross-functional teams, promote open communication, and create a culture that values experimentation and learning.
- Empower employees and foster ownership: Delegate decision-making authority to teams, provide them with the resources and support they need, and encourage them to take ownership of their work.
- Measure and track progress: Establish key performance indicators (KPIs) to track the effectiveness of the RIO program and identify areas for improvement.
- Continuously adapt and improve: Regularly review the RIO framework and make adjustments based on feedback and changing market conditions.
Phase 3: Sustaining Agility (ongoing)
- Embed agility into the organizational DNA: Make agility a core value of the organization, integrated into all aspects of operations and decision-making.
- Develop a robust talent management strategy: Identify, attract, and retain talent with the skills and mindset needed to thrive in an agile environment.
- Continuously invest in innovation and technology: Stay ahead of the curve by investing in emerging technologies and exploring new ways to create value for customers.
- Monitor the competitive landscape: Continuously analyze the competitive landscape and adapt the RIO framework to maintain a competitive edge.
- Ensure ethical and responsible use of technology: Implement strong governance and ethical guidelines for the use of technology and data, ensuring privacy and security.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The RIO program aligns with ING's mission to provide customers with innovative and convenient financial services. It leverages the bank's existing strengths in technology and customer service while addressing its weaknesses in agility and innovation.
- External customers and internal clients: The RIO program aims to improve the customer experience by providing faster and more personalized services. It also aims to empower employees by giving them more autonomy and responsibility, leading to increased job satisfaction and engagement.
- Competitors: The RIO program helps ING stay competitive by enabling it to adapt quickly to changing market conditions and customer needs. It also allows the bank to leverage technology to develop innovative products and services that differentiate it from its competitors.
- Attractiveness ' quantitative measures: The RIO program is expected to lead to increased efficiency, reduced costs, improved customer satisfaction, and higher revenue growth. These benefits can be quantified through metrics such as customer churn rate, employee engagement scores, and return on investment (ROI).
6. Conclusion
By implementing the RIO program, ING Bank Netherlands can transform itself into a more agile and customer-centric organization, capable of thriving in the rapidly evolving financial services landscape. This transformation will require a sustained commitment to change, a focus on innovation, and a willingness to embrace new technologies and ways of working.
7. Discussion
Other Alternatives:
- Sticking with the 'Tango' program: This would be a less ambitious approach, focusing on incremental improvements rather than fundamental change. However, it may not be sufficient to address the challenges posed by the changing market environment.
- Outsourcing key functions: This could help ING reduce costs and focus on core competencies. However, it could also lead to a loss of control and potentially compromise customer service.
Risks and Key Assumptions:
- Resistance to change: Employees may resist the changes brought about by the RIO program, leading to delays and implementation challenges.
- Technology adoption: The success of the RIO program depends on the bank's ability to effectively adopt and integrate new technologies.
- Market dynamics: The financial services industry is constantly evolving, and the RIO program needs to be flexible enough to adapt to changing market conditions.
Options Grid:
| Option | Benefits | Risks | Cost |
|---|---|---|---|
| RIO Program | Increased agility, innovation, and customer satisfaction | Resistance to change, technology adoption, market dynamics | High |
| 'Tango' Program | Incremental improvements | Insufficient to address major challenges | Low |
| Outsourcing | Reduced costs, focus on core competencies | Loss of control, potential compromise of customer service | Moderate |
8. Next Steps
To implement the RIO program effectively, ING should follow a phased approach with clear milestones:
- Phase 1 (6-12 months): Define vision and strategy, establish the RIO team, develop a change management plan, pilot the framework, and invest in technology.
- Phase 2 (12-18 months): Roll out the framework, foster a culture of collaboration and innovation, empower employees, measure progress, and continuously adapt.
- Phase 3 (ongoing): Embed agility, develop talent management strategy, invest in innovation, monitor the competitive landscape, and ensure ethical technology use.
By taking these steps, ING can successfully transform itself into an agile organization and position itself for long-term success in the dynamic financial services industry.
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Case Description
Set in 2016, this case describes ING Bank's implementation of a radical new way of working using agile principles. ING's agile way of working has been written up in Harvard Business Review, Sloan Management Review and McKinsey Quarterly. This case provides a detailed account of how the new structure was developed and implemented. The case describes the process of change in ING Bank, from the aftermath of the global financial crisis to 2016. It provides background information on two change initiatives (Tango and Less is More) that simplified and rationalised the bank's activities, then it provides a detailed account of the major transformation that became known as RIO ("Redesign into Omnichannel"). It focuses on the choices made by Bart Schlatmann, COO of the Netherlands business, and his team - to pursue an omnichannel strategy (i.e. where all channels to market are linked together and managed seamlessly) and to build an organisation to support this strategy that drew inspiration from digital companies such as Google, Facebook and Amazon. The subsequent restructuring into "agile" teams was a groundbreaking move for a company in the rather conservative banking industry. The case provides lots of detail on how this new model works in practice. After 12 months 3,000 staff had embraced the culture of agile methodology. At the end of the case, Schlatmann had to consider two main questions: (1) How to balance the autonomy of tribes with alignment to the company's strategic objective; and (2) How to roll out agile to other parts of the ING.
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