Role of Agility in the Banking Sector in Competitive Globalization Era

Abstract

In today's rapidly changing market conditions, organizations need to be agile to gain a competitive market advantage. This chapter details the key points required for agility. Although there has been ongoing discussion whether finance and banking sector can be agile due to rigid structures, processes, and regulators, the chapter aims to prove the vital role of agility in banking sector with the case of Garanti Bank. Thanks to the case, the strategies both on the basis organization structure and marketing level that banks need to apply in agile transformation process, have been exemplified. As a result of the case, the importance of flexibility, speed, monitoring the latest trend, making quick decisions, and being customer-focused in the banking sector is stressed. On the other hand, banks are suggested to engage all their units, shareholders together with their customers in the process to have a more smooth translation.