FAQ

DigiLab Finance is a 3-month accelerating program for financial services providers to develop their digital transformation strategy and roadmap. The program was created and delivered by IFC in partnership with Accenture. 

Participating financial institutions gain an understanding on how to develop their digital strategy by focusing on a customer-centric model. Additionally, they will align their C-level and other internal partners, structure a tailored roadmap for their digital transformation, and understand more about partnerships with different ecosystem actors. 

DigiLab Finance is conducted through a combination of off-site workshops and on-site exercises led by the IFC staff.

Participants include bank and non-bank financial institutions that want to:

• embark on or are in the midst of their digital transformation
• improve their costumer experience
• improve their digital solutions or products
• leverage their digital strategy to retain or acquire customers

Each participating financial institution can send between five and ten executives.

IFC recommends having four of these executives assist to all of the on-site workshops so the institution develops a basic understanding of the program and to have them as "Champions" of the digital transformation.

Additionally, in order to ensure that the strategy reflects as many parts of the organization, IFC recommends the following individuals to assist: Board of Directors, Chief Executive or Managing Director, Chief Operations Officer, Chief of Shared Services, Chief Technology Officer or Chief Information Officer, Chief Digital Officer or Head of Digital Banking, Chief of Human Resources, Head of Retail or Corporate Business, and Chief of Marketing. 

By the end of DigiLab Finance, the institution’s leadership will have:

• developped or enhance the digital strategy for its institution
• developped a roadmap for digital transformation 
• learnt from peers and global best practice what works best for its own institutions

In addition, DigiLab Finance maintains a vibrant alumni community, where you can exchange on your digital transformation with peers around the globe.

Take a look at the stories to hear what participants say about DigiLab Finance.

Each cohort comprises of no more than 5 financial institutions. Participating institutions are carefully selected to ensure they are at a similar point on the digital maturity curve. This facilitates peer learning while encouraging meaningful feedback of each institution individually.

Moreover, each cohort has participants of the same region, but not from the same country.

DigiLab Finance is a 12-week program. There are 3 face-to-face workshops in designated regional locations for each cohort. In between these workshops, the cohort members work off-site for 3-4 weeks on specific aspects of their strategy and implementation roadmap. Each financial institution is mentored by an assigned IFC expert. 

Each DigiLab Finance takes place in three different cities in your region. Please contact us for more information.

Participation fee per institution may vary by region. Please contact us for more information. 

IFC is looking forward to your participation in DigiLab Finance. If you are excited about participating, send an email to digilab@ifc.org 

Being at the forefront of digital transformation, DigiLab Finance is delivered in a virtual format until further notice. The virtual program is covering the same content as the face-to-face delivery format and updated on an ongoing basis. Please contact us for more information.