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 Sloan Center for Information Systems Research (CISR)
Stephanie L. Woerner, Research Scientist, MIT Sloan Center for Information Systems Research (CISR)
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