Case Study: How Travelex are Winning at DX
Currency exchange firm Travelex always had an eye on the future. Back in 2007, they made headlines for a viral marketing campaign in which they proposed to launch an official currency for outer space. Here in 2017, they are making headlines for their aggressive and visionary approach to digital transformation (DX).
Sean Cornwell, Travelex’s CDO, recently gave a detailed talk on the company’s approach to DX. At the heart of their strategy is a belief in long-term value creation and the power of disruption, as well as a willingness to fail sometimes. Accepting occasional failure is the price of innovation, according to Cornwell, who has led a policy of “test, learn, iterate” that supports experimentation.
The results for Travelex have been impressive, with new digital products, a substantially increased talent pool, a rejuvenated internal IT infrastructure, and some headline-grabbing digital disruption in their sector. For the company and Cornwell, however, this kind of change is not a means but an end in itself. By transforming into an agile, dynamic organization, Travelex has positioned itself to remain a market leader and innovator into the future.
Read the full Travelex case study here.