10x Banking
Culture diagnostic insights (beyond employee engagement) to strengthen vision alignment and drive sustainable rapid growth
The Challenge
10x Banking is a fast growing FinTech company, set up in 2016 with a belief that most traditional banking infrastructure is being rendered obsolete by advances in technology and changing customer behaviour. Since then, 10x Banking has become the leading provider in next-generation cloud-native technology platforms across the world's largest financial institutions.
Due to their ambitious growth plans, 10x knew they needed their people fully aligned to the 10x ambition and goals to innovate within the global financial markets for the benefit of consumers and society.
To achieve this 10x knew they needed to revisit their values and behaviours. Strengthening the culture to deliver on the next phase of growth in line with the 10x purpose, mission and strategy. Attracting and retaining diverse talent, and therefore having a clear and consistent view of the culture, was critical to achieve the 10x ambition.
Goal: To identify the culture ambition for exponential growth and the behaviours to drive high performance
"We have worked with a number of consultancies, and what has been a stand-out in the dragonfish approach is the way they have been highly pragmatic around their insight and actions."
Antony Jenkins, CEO and Founder
10x Banking
Our Solution
A lean and high impact culture survey supported by senior leadership engagement.
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Using insights from interviews with the executive team, a dragonfish culture performance audit was conducted.
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A bespoke 10-question survey was created using qualitative and quantitative culture research data sets.
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An internal benchmark was created to assess the 10x culture against other high-performing organisations within the financial and technology sectors. This also provided an internal 10x Banking benchmark to track, monitor, and be proactive in ensuring the 10x culture is aligned to the future ambition.
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The 10x culture framework was developed, with short and long-term recommendations and actions in an interactive leadership culture workshop.
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A set of top-performing behaviours was identified across contractors, suppliers, employees, and global teams as to what they felt was important for 10x to achieve the future ambition.
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The results of our research were shared through a dragonfish-facilitated town hall, with over 400 10x’ers, delivered virtually to all sites across the world.
The Impact
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Leadership buy-in to the culture ambition, inclusive team-driven prioritisation of behaviours to drive success, with short-term and longer term high value initiatives to supercharge their culture.
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Culture & EDI network established to support the activation, strengthening and embedding of the behaviours with a continuous improvement approach in place (measure, learn, improve).
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Significant growth of the organisation with headcount going from 250 to over 400 people plus contractors
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Successfully secured additional rounds of funding and in 2021 10x Banking was valued at over £700million.