‘Do, fail fast, then adapt’ to help drive value amid digital shift: StanChart’s Grace Chan

HAVING an agile approach – quickly implementing changes, failing fast, then adapting to failures – can help banks navigate the ever-changing retail banking space, said Standard Chartered’s general manager of personal banking, Grace Chan.

As the retail banking space is constantly transforming and facing disruptions, banks should develop an iterative process to fine-tune services to meet customer needs, said Chan, who is also head of cards and personal loans.

“I don’t believe in silver bullets, because nothing is easy. But I believe in doing, failing very quickly if needed to, and then adjusting,” she said.