T-Bank Ensures Insurance Business Success with BrightRide
Finance
T-Bank
The T financial ecosystem offers a full range of financial and lifestyle services for individuals and businesses via its mobile app and web interface. At the core of the ecosystem is Tinkoff Bank, one of the world’s biggest online banks with over 40 million customers.
In 2016 T-Bank was going through explosive growth and expansion of business lines. BrightRide helped T-Bank to ensure success of now a $970M insurance business.
In 2016 T-Bank was going through explosive growth and expansion of business lines. BrightRide helped T-Bank to ensure success of now a $970M insurance business.
- ~500Company size
- 2Sites worldwide
- 1Number of timezones
Summary of success
BrightRide has identified a communication gap between main business and the incipient insurance business. The prediction as ahead of the actual issues with the business by 2 years, which allowed company leadership to understand and address their source, thus setting for success a $970M insurance business.
Challenge
T-Bank business was growing by leaps and bounds in 2016, adding 4 new business lines. Some of those lines were based on acquired businesses and didn't partake in T- culture of success. Organization leaders had to decide — provide new business lines more autonomy and latitude, or use infrastructure and practices that proven successful.
T-Bank business was growing by leaps and bounds in 2016, adding 4 new business lines. Some of those lines were based on acquired businesses and didn't partake in T- culture of success. Organization leaders had to decide — provide new business lines more autonomy and latitude, or use infrastructure and practices that proven successful.
Solution
It is essential for success that people inside company collaborate across boundaries. One of the problems with scaling fast is that people lose touch with each other. BrightRide ran a quick 1 week study for T-Bank (then Tinkoff) based on people interactions in Atlassian Jira. Jira was not the only collaboration tool used by Tinkoff, so the information was incomplete, but obvious gaps were visible even then.
Here is the resulting diagram,
It is essential for success that people inside company collaborate across boundaries. One of the problems with scaling fast is that people lose touch with each other. BrightRide ran a quick 1 week study for T-Bank (then Tinkoff) based on people interactions in Atlassian Jira. Jira was not the only collaboration tool used by Tinkoff, so the information was incomplete, but obvious gaps were visible even then.
Here is the resulting diagram,
Tinkoff Communication Traffic Map
We could clearly see that the Insurance business was significantly isolated from the rest of the organization. That explained why it struggled to execute and didn't leverage Tinkoff's proven infrastructure and talent of other teams.
A few strategies were helpful there,
A few strategies were helpful there,
- Rely on leverage built for other business lines, including technical leverage to increase organizations' speed and ability to deliver;
- Introduce more people to serve as brokers between organizations, e.g., by temporary or permanent team rotations.
- Produce a more integrated holistic strategy where all organizations will partake and reinforce each other.
- Invest in building a common culture acting as an implicit control system—shape norms, values, and behaviors to reduce the need for day-to-day coordination.
«All problems revealed by BrightRide had manifested themselves over the next 2 years, and we had to address them to ensure success.»
Slava Tsyganov, Deputy Chairman, VP Eng
Slava Tsyganov, Deputy Chairman, VP Eng
Customer Success
BrightRide was able to successfully predict the ensuing issues up to 2 years in advance. Better understanding of the source of the business challenges of incipient business lines allowed to timely address them and ensure business success.
Most notably for the Insurance business making $970M of revenue in the first 9 months of 2024.
BrightRide was able to successfully predict the ensuing issues up to 2 years in advance. Better understanding of the source of the business challenges of incipient business lines allowed to timely address them and ensure business success.
Most notably for the Insurance business making $970M of revenue in the first 9 months of 2024.
Next Steps
T-Bank may try a new version of the product allowing to monitor connectivity between organizational units as well as waiting times. Automatic labeling of messages will allow them make their business competitive in the future without micromanagement.
T-Bank may try a new version of the product allowing to monitor connectivity between organizational units as well as waiting times. Automatic labeling of messages will allow them make their business competitive in the future without micromanagement.
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Our Mission — Unleash creative energy in
today's organizations for what truly matters.
We achieve this by equipping business leaders with tools
to forge efficient communication structures.
today's organizations for what truly matters.
We achieve this by equipping business leaders with tools
to forge efficient communication structures.
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© 2024 Bright Ride, Inc. All rights reserved.
© 2024 Bright Ride, Inc. All rights reserved.