CASE STUDY
An in-depth description of a firm’s approach to an IT management issue (intended for MBA and executive education)
Working Paper: Case Study
Bancolombia: Coordinating Multiple Digital Transformations
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.
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.
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About the Authors
Andrea Patricia Diaz Baquero, Research Assistant, MIT Center for Information Systems Research (CISR)
Stephanie L. Woerner, Research Scientist, MIT Center for Information Systems Research (CISR)
MIT CENTER FOR INFORMATION SYSTEMS RESEARCH (CISR)
Founded in 1974 and grounded in MIT's tradition of combining academic knowledge and practical purpose, MIT CISR helps executives meet the challenge of leading increasingly digital and data-driven organizations. We work directly with digital leaders, executives, and boards to develop our insights. Our consortium forms a global community that comprises around seventy organizations.
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