Recently, the development of financial innovations forces a financial institution to improve itself to become an innovative organization. Through the process of reform, there are several challenges and obstacles the company faces. Therefore in this study, the researchers aim to explore the key factors hindering financial institutions when reforming IT units to become innovative organizations. The study was conducted by applying the framework of: W3S2C: Strategy, Structure, Support, Climate and Culture” proposed by Nathasit Gerdsri and Poomporn Thamsatitdej. 27 key staff representing top management, middle managers, and operations staff were interviewed. The analysis results highlighted three hindering aspects including structure, support and climate. The case study also reveals that politics and power should also be considered in addition to the key aspects of 3S2C framework.