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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.
By Andrea Patricia Diaz Baquero and Stephanie L. Woerner
CASE STUDY

An in-depth description of a firm’s approach to an IT management issue (intended for MBA and executive education)

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

MIT CISR Researcher

Andrea Patricia Diaz Baquero, Research Assistant, MIT Sloan Center for Information Systems Research (CISR)

MIT SLOAN CENTER FOR INFORMATION SYSTEMS RESEARCH 

Founded in 1974 and grounded in the MIT tradition of rigorous field-based research, MIT CISR helps executives meet the challenge of leading dynamic, global, and information-intensive organizations. Through research, teaching, and events, the center stimulates interaction among scholars, students, and practitioners. More than seventy-five firms sponsor our work and participate in our consortium. 

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