Digital transformation is a hot topic and a broad concept. It's hard to go a day without hearing a related buzz word (e.g., digital transformation, digital journey, digitization, digital capabilities, digital roadmap) and related article on how to do it, why it's important, or what to focus on first. Suffice it to say, the digital transformation faucet may never be turned off again.

It's nearly all important and relevant, but it's also a lot to digest and a big challenge for many community banks to choose what to pay attention to, how to think about digital transformation needs in practical terms, and most importantly, what steps to take next.

Digital Transformation: What Does It Even Mean?

The definition we favor on this broad topic is that digital transformation is an enterprise-led business model that enables banks to respond to the needs of their current and future customers. Put simply, digital transformation is where strategy, technology, and operations meet to deliver improved value for customers.

There's no denying that an increasingly high percentage of goods and services are being consumed digitally; but by focusing on how you can best meet evolving customer needs, you'll avoid (at least in part) the muddy waters of digital transformation, and you'll see clearly through the lens of what community bankers know best – their customers. In taking this view, you'll be embracing digital transformation without getting hung up on it.

Positioning your bank for success

At Bancard, we continue to focus on positioning you to succeed with your own digital transformation efforts. We recently released a white paper to provide our view on digital transformation, what's going on in the market, and why it matters for community banks. We are also releasing a step-by-step workbook that can aid our clients in developing a digital payments transformation roadmap. Assessing the current state of your market, evaluating your how your organization is aligned to support your transformation needs, exploring your technical capabilities, and prioritizing potential payments products are all part of the strategy and development process, and the workbook will support these efforts.

There are many ways to cook an egg, and you may already have an approach to strategic planning and defining a digital transformation roadmap(s). Or better yet, perhaps you are already years into a transformation journey with a mature prioritization and roadmap framework. If this is the case, consider the workbook as a supplemental resource as you chart your path, with a keen focus on prioritization, organizational commitment, and internal bank and customer conversations that support your planning and execution efforts.

You will find these helpful resources at Given the dynamic nature of our industry and the need to continuously innovate, ICBA Bancard will continue to provide relevant updates on this resource page as appropriate to support your ongoing needs, so check back often. From best practices to use cases from other bankers that are having related success, Bancard is here to aid you as you evolve to meet the diverse banking needs of your customers—today, tomorrow, and well into the future.