Open Access

Sushanth Kanbail Srinivas

• German banking sector is already under a great threat from the Fintechs because of their distinguished services like online payments, money transfer, and many other end consumer driven products.This digital disruption has made parts of the business cases vulnerable of their existence and German banks in particular are also exposed to additional risks due to the global competition, regulatory compliance, uncertain economic conditions and high operating costs. The presence of Fintechs is wide enough that they play a vital role in everyday life just at a click of a button and no longer a revolution but a disruption to the traditional business of the banks who are failing to sustain their customers. Combining the titans (German Banks) with new age entrants (Fintechs) will provide smooth user interface, create touch points, and reach to customers better than before which eventually leads to high user acceptance rate. OKRs known as “Objectives and Key Results” is a strategical management tool which revolutionized many organizations such as Google, AB InBev, Twitter, and Microsoft in the transformation of their business, attain operational excellence and break market barriers. They project radical clarity in defining the objectives and align each key result with transparency. Hence, with this performance management tool the banks can be able to pivot the current situation by re-evaluating their existing priorities, redirecting their resources and investments into right lanes by collaborating with the Fintechs. This is enabled by the application of cross-functionality of German banking knowledge and the expertise of Financial technology. Within this thesis, a concept of how to introduce OKRs in the banking management is developed. This is accomplished through literature review in combination with expert interviews from the German banking industry.