160-year-old financial institution digital transformation

Case Study

From traditional to tech-forward

How a 160-year-old financial institution became the digital bank of the 21st century.


It’s all in the approach

After nine months of trying to build its digital-banking business using traditional methods, a large multinational bank partnered with UST to find a better way—and soon realized the power of agile business transformation.

“[UST] understands what we need, and that the real challenge of introducing agility is changing our way of thinking.”

-Senior Director, Innovation Office, Large Multinational Bank


Bringing a lagging digital experience up to speed

While our client was the #2 bank in Spain and Latin America, its online presence was having difficulty meeting the expectations of a shifting demographic. To respond to changing market demands, the bank would need to do more than simply upgrade its website or plug in a packaged solution. Leadership knew it was time for a fundamental change in the way the bank did business. It needed the right partner to lead its teams in adopting better, more efficient ways of working—all within a culture that prized humanity, community and institutional pride.


A tailored approach to an agile transformation

We began our engagement not with a pitch, but with a series of questions: What are your goals? What’s your market share? What are your concerns? By understanding what was unique to our client, and why, we could tailor our approach. This allowed our teams to resolve immediate problems while working to fulfill leadership’s vision of helping customers realize their hopes and dreams.

Working with a core group of business and technology visionaries, we trained the bank’s teams in agile product management. This wasn’t just about software development—we showed our client how to articulate a product strategy, plan a release and measure its impact. Over time, we expanded into portfolio management, guiding our client in everything from development to advertising planning and strategy for a dozen different products.


A booming business leads to a global rollout

Within just six weeks, our client’s teams released the bank’s first digital banking app, with several more features and apps to follow in the first four months alone. This also coincided with a 44% increase in revenue—a number that jumped to 127% after seven months. A top business analyst would go on to recognize the digital app as the best in the world in 2017.

The success of the program—which also saw dramatic improvements in customer satisfaction and time to market—led us to an extended client relationship. Bolstered by our global footprint and localized talent, we brought our agile transformation and digital banking model to eight of the bank’s other national operating companies. We also helped the CEO articulate, replicate and refine a united business strategy across the company as a whole.



Rise in customer satisfaction



Drop in time to market


In digital banking


A look inside our toolbox

When the right teams have access to the right tools and industry knowledge, great things happen. Learn more about the expertise and resources that helped us achieve success on this project.

Digital Transformation

Strategy, Implementation & Operations

Financial Services

Approaching everything case by case

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