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mBank: Creating the Digital Bank

Title Author(s) Type Topic(s) Comments Date
mBank: Creating the Digital BankFonstad, Nils O.
Woerner, Stephanie L.
Weill, Peter
Research BriefingBusiness Models
Enterprise Architecture
IT-based Business Transformation
Digital Innovation
Abstract: mBank is reinventing banking for a digital economy. This briefing describes five practices that MIT CISR has identified as key to mBank’s digital success: 1. Think digital; 2. Amplify the voice of the customer; 3. Develop reusable components on a single platform; 4. Partner business and IT in every project; and 5. Extend services and access more customers through external partners. As a result of these practices, mBank combines the fast track tech-enabled innovation typically found in a FinTech company with the mature management, funding, and relationships of a bank.

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