How to create a Strategy Roadmap in the Banking Industry?

In the below guide, we’ll explore how strategic roadmaps can be applied to the Banking Industry to enhance financial services by improving customer experience, optimizing operations, and embracing digital transformation.

This example will guide you through the process of breaking down strategic goals into actionable initiatives, ensuring alignment with business objectives, and tracking progress for successful execution.

Company Objective:

ABC Bank aims to enhance its financial services by improving customer experience, optimizing operational efficiency, and expanding digital offerings within the next 12 months. This guide outlines the strategic roadmap for achieving these goals.

Define the Strategy roadmap:

ABC Bank is preparing to enhance its financial services, and here is our roadmap for achieving this goal.

To create strategy roadmaps Navigate to Strategy Roadmaps from the left navigation panel and Click on the + Create Roadmap button. In the Create Roadmap side panel, name your Roadmap and choose its visibility. Then, click the Create button to proceed.

Define the Strategy Themes:

ABC Inc. starts by identifying the major themes that will guide its expansion efforts. These themes will break down the overarching goal into manageable segments.

Once the roadmap is created, click the + Create Theme button to initiate a new theme. In the Create Theme side panel, enter the Theme name and click the Create button.

Break Down Themes into Sub-Themes:

Under each strategy theme, specific sub-themes are identified that correspond to the key steps required for successful execution.

To create a subtheme, hover over the theme you’ve created and click the + Create Subtheme option. Enter the subtheme name and once done click Enter.

To edit a subtheme, click on its name, make your changes, and then click Update.

Develop Initiatives:

Each sub-theme is broken down into actionable initiatives, with owners assigned to each task.

To create an Initiative, hover over the subtheme you’ve created and click the + Create Initiative option. On the Create Initiate side panel, enter the Initiative Name, fill in the required details, and click the Create button.

The newly created Initiative will appear on the Roadmap Overview page.

Assign OKRs to Initiatives:

OKRs (Objectives and Key Results) are linked to each initiative to ensure progress is measurable and tied to business outcomes.

To link OKRs with initiative, select your preferred initiative and then click on the Associate Objectives button on the initiative overview page.

On the Associate Objectives page, select the objective and click the Add button. The associated OKRs will appear on the initiative overview page.

Outcome:

After implementing this roadmap, ABC Bank successfully enhances customer experience, achieves significant operational efficiencies, and expands its digital offerings.