The main reason why we don’t even tell banks about our deep CX creation practice from the get-go- the EXnotUX and the “Money Moments™ not Banking Products” workshops before they start on cultural transformation (or betterment) is that they would be unable to internalise them if they don’t have a ballsy CEO and let’s face it, most don’t.
I’ve talked about Banking Superheroes a lot and there are some inspiring examples in the industry. Typically they aren’t CEO level. In fact, I can only think of 4 bank CEOs who would fit the profile right now. This is both sad and possibly an indicator of organisational mass psychosis in terms of the presentation of a leader and the inability of HR to do better by them that is worthy of analysis at another time.
We also talk a lot about Courage at Emotional Banking and while we are rolling out programs for product owners and tribe leaders we rarely see SVPs of X or Y or even department heads strolling into the workshops. This is presumably because they are busy firefighting and creating very important things and can’t afford the time. Things that are a bigger priority than growing the bravery to turn the world on its axis.
It’s tempting to think there are several different kinds of courage and to arrive to where they have enough to mandate that the bank supercharges emotions on top of human design practice and becomes truly consumer obsessed, CEOs need a different kind of courage, a more CEOy kind.
It would be a lot easier for our firm to sell a “Courage for Strong, Important, Lovely, Supercalifragelisticexpialidocious Bank Leaders” to ensue they are in a room where the same bravery inducing exercises would happen as the ones we pack in workshops for the plebs, but it would also be a PR lie that panders to the very ills of the organisation we accuse.
While indeed CEOs should be Banking Superheroes they aren’t special and they don’t need a different type of courage just maybe, more of it as more is perceived to be at stake on a personal level if they fail.
CEOs with courage see past this year’s commitment to shareholders. They say “Yes this is not immediately tricking down to consumers and may be all but invisible in my time here but I am doing right by this place, I am laying down foundations so that all those that come after me can do the client facing wow-ing you are after. We have purulent wounds and we can’t slap bandaids on them, we have to surgically clean and sterilise them first.”
There are no bank CEOs in position today who do not have the know-how to correctly evaluate the status quo of the bigger picture or lack the ability to know they are simply applying bandaids in lieu of cleaning wounds.
- Revamping the mobile app in more hipstery fonts and colours? Band aid.
- Restructuring around agile and organising teams in product tribes without changing the way they think? Band aid.
- Adding a UXP layer to an aging spaghetti back-end? Band aid.
- Starting a flanker brand? Band aid.
There are so many more examples.
Anytime worthwhile core concepts around experience, innovation and visceral changes such as Human Centred Design and Cultural Change are used as empty PR exercises in lieu of being fully embraced, that’s malpraxis.
In some ways it’s worst than bandaids, the lack of regard for real change means we apply solid, hard, cold plaster on top of those wounds, giving the patient even less chances for survival. They may limp out of the surgery but will they make it home before gangrene and sepsis set in?
This is not gratuitously morbid, the health of the organisation depends on the confiscation of bandaids and plaster.
Hero bank CEOs armed with a golden scalpel need to scan every inch of their patient and locate every infected wound and cancer, put them under, then remove them or at the very least treat them quickly. And yes there are many and any long operation is extremely risky, there is no way to ensure they will wake up, but the truth is doing anything other would be criminal.
When a core banking system goes down and the bank is in the press for weeks that’s a glaring issue. It hurts the bank’s reputation and that of the CEO himself. It’s visible and painful but it’s also often times unavoidable and unpredictable so I personally never hold incidents as such where technology itself fails them, against any CEO, although there is a line of thinking suggesting that the right organisation has the right people to better safeguard against technology failing them.
What I find condemnable is when non-accidental failings that were waiting to happen materialise. Not urgently demanding profound change in the soul of the bank is one such temporarily invisible, insidious and catastrophic systemic failing and the CEOs that do not make this a priority are breaking the equivalent of the Hippocrates oath of doing no harm.
A bank asked me just yesterday why they can’t just jump this people betterment malarky and just go ahead and use our CX workshops to create Money Moments™. I told them it’s because even if they could create the most magical of UX while not having worked on Knowledge, Passion and Courage then it would still be nothing but a plaster on a slow festering gangrened wound and I’m hoping their CEO is on a health kick and ready to do grab a scalpel.
Who’s ready to hand it to them?