Consumer Brutal, Chase Bank

Gregg Fraley

I do my banking online, as much as is possible. Online banking saves me time. I bank with Chase, more formally known as JP Morgan Chase. To be fair, according to my colleagues in the innovation space, this true story could probably apply to any USA bank (“stuck in the 90′s” was a phrase I heard more than once). The Branch Manager did his best, but he was put on hold by his own co-workers and we both sat there waiting until the bank closed.

Four Innovation Lessons We Can Learn from Standard Bank

IdeaScale

Innovation is particularly important for industries that seemingly move slowly, and that’s particularly true of banking. South Africa’s Standard Bank, which has branches across Africa and is expanding to other markets across the world, is an excellent demonstration of why.

Blockchain: Distributed Shared Ledger Technology in Banking

hackerearth

Over 90% of the world’s leading banks are either exploring, experimenting (PoCs), or formulating a strategy for leveraging blockchain technology, says an Accenture survey. Benefits of Blockchain in banking. Source: Banking on Blockchain. Intra-bank cross-border payments.

Inside One Multinational Bank’s Strategy for Fintech Expansion

Rocketspace

These challenges amplify when the bank has a presence in multiple countries. The role of R&D and new product development take on a different role within banks, which need to monitor on-the-ground trends at both the business and consumer levels. Put simply: in order for a bank to survive and remain relevant in an ever-evolving market, experimentation and rapid iteration are a must.

6 Ways to Create a Successful Innovation Program

industry verticals, from banking and manufacturing to healthcare and energy, we’ve identified a few crucial factors and patterns that. The practice of innovation has come a long way, and for good reason.

The Future of Banking –  Promises and Threats

Rmukesh Gupta

One of the industries that seems to be on the cusp of going through a similar upheaval seems to be the banking industry. Banks in most economies pays a simple interest (and in some countries, charge a fee to safeguard the money for the party) on the money that it holds for the parties.

International Hackathon for Banking Innovation

IdeaConnection

Last weekend, Barclays Bank organized what it claims was the largest hackathon in financial services across two continents, ever. Their mission was to explore the best and most innovative emerging ideas and disruptive technologies to help shape the future of banking.

The Banks Guide to scouting Fintech

Matthew Griffin

“Four of Europe’s largest banks reveal their Fintech scouting strategies and with one exception their approach won’t come as a surprise. As an Entrepreneur you’ve worked 247 365 and seen your bank balance dwindle. To an Entrepreneur attention is oxygen so imagine the electricity that flows through a room when you put thirty budding European Fintech Entrepreneurs in the same room as senior executives from some of the Europe’s largest banks.

Have the Banks already been Disrupted?

Matthew Griffin

Banks were once the corner stone of the community but today their industry is being disrupted and disintermediated. Over the past two weeks I’ve talked to a number of senior C level executives from some of the UK’s largest retail banks to understand more about their views of the world and their perception of the market and while outwardly little looks like its changing at the Big Five banks their executives are not sitting comfortably.

How Israel’s Oldest Bank Is Engaging Employees to Become a Leader in Banking Innovation

Qmarkets

In 2013, Bank Leumi embarked on a journey to make innovation one of its prime strategic goals. Since deployment, the Bank has run ongoing idea challenges, engaging thousands of the bank's employees in online idea brainstorming to tackle a variety of the company's challenges.

My fridge can disrupt your Bank

Matthew Griffin

For banks one of the first potential opportunities comes not from some fantastically complicated financial instrument but from the common a garden fridge. .

Quantifying a Culture of Innovation

Tiziana Bianco, General Manager, Innovation Labs, Commonwealth Bank of Australia QUANTIFYING A CULTURE OF INNOVATION | 13 Innovation culture isn’t free. QUANTIFYING A CULTURE OF. INNOVATION A RIGOROUS, QUANTITATIVE ANALYSIS OF.

Could a high street Bank challenge Apple?

Matthew Griffin

This time though they’ll be armed with the capability to create glorious, data laden customer products and services that make their products even more attractive and that in turn will put the banks under even more competitive pressure.

World Bank Issues First Ever Bonds Using Blockchain

Linda Bernardi

Commonwealth Bank of Australia is charged for making this happen! Fasten your seatbelts, Blockchain is getting into mainstream banking. The post World Bank Issues First Ever Bonds Using Blockchain appeared first on Linda Bernardi.

FinTechCube benchmark study: “Banks lack a customer focus”

etventure

What is the state of digitization in the German banking sector? In order to answer this question, FinTechCube carried out the benchmark study “Digital Transformation of Banks”. More than 30 banks and around 200 private customers were surveyed for this.

The Digital Bank – How to make Business Models fit for the Future

ITONICS

Banking is necessary, banks are not”. Many traditional banks have reacted and are now en route to the digital world. ITONICS advises numerous banks on how to make their business models fit for the future and not merely keep up with digitization, but even become a first mover.

Banking for a better future

100open

Subsequently, UBS – one of the world’s leading wealth managers and the largest universal bank in Switzerland boasting impressive market access, global connections, challenged their 65,000+ employee base to help make a positive impact in sustainable development.

6 Keys to Making Collaborative Innovation Successful

Speaker: Soren Kaplan, Founder of InnovationPoint

About ten years before filing for bank- ruptcy in 2003, the company hired the head of HP’s ink-jet printer business. BOOK GROUP PRESS www.gbgpress.com GREENLEAF The H o w t o C r e a t e a C U l t U r e o f i N N o v a t i o N S o r e n K a p l a n , p h D An Excerpt from.

Banks: Too large to fail, easy to Disrupt

Matthew Griffin

“Senior banking executives are focusing on the impact that individual Fintechs or types of Fintechs will have on their organisations and industry but this narrow view means they’re at risk of missing the bigger picture.

Future Squared Episode #3: Interview with NAB Labs' Humphrey Laubscher on Innovation in Banking | Collective Campus

Collective Campus

Our latest Future² podcast focuses on Innovation banking featuring Humphrey Laubscher, NAB Labs' Fintech Innovation Manager

How Ideation Transformed the Culture of the Largest Bank in the Southern Hemisphere

Spigit

Commonwealth Bank , the largest bank in the Southern Hemisphere, is an example of a company that has heavily invested in the creation of a culture of innovation and as a result of their efforts has started to see the fruits of their investment. In an article on their blog , Commonwealth Bank describes how their internal ideation program – CommBank Intrapreneur – has been instrumental in transforming its culture.

How Ideation Transformed the Culture of the Largest Bank in the Southern Hemisphere

Spigit

Commonwealth Bank , the largest bank in the Southern Hemisphere, is an example of a company that has heavily invested in the creation of a culture of innovation and as a result of their efforts has started to see the fruits of their investment. In an article on their blog , Commonwealth Bank describes how their internal ideation program – CommBank Intrapreneur – has been instrumental in transforming its culture. 89% of Spigit customers are leveraging ideation to create a.

2017 will be to banking what 2016 was to politics

Wazoku

Banking is at a crossroads against its own will, facing threats from Brexit regulation, from Trump – and continued change from social and technological evolution. These are my predictions for the banking industry in 2017.

How KBC Bank Used Crowdsourced Innovation to Create Massive Employee Engagement

Spigit

KBC Bank, a European bank and financial services leader , is an example of a company that experienced disruption first hand. Technology has fundamentally shifted how consumers interact with banks and other financial institutions.

What’s Next – The Disruptive Innovation Toolkit™

Braden Kelley

I think managers and leaders are wondering now that I’ve written two popular books (Charting Change and Stoking Your Innovation Bonfire) and a chapter … Continue reading → Change Innovation Bank of Montreal Change Planning Canvas Change Planning Toolkit disruption Disruptive Innovation frameworks methodologies OSF Healthcare Tools value innovation… and a new Innovation Intervention service. People have been asking me recently – What’s next?

What Innovations Are Needed for Better Mortgage Interest Rate Management?

Innovation Excellence

Bank of England’s Chart shows 5,000-year history of interest rates. Innovation Bank of England interest rates mortgage rates MortgagesThey are globally at a 5,000 year low!

Idealize the Answer

Destination Innovation

Staff at a major bank looked for an ideal solution for clients’ needs. Someone asked the question, ‘What if banks were open 24 hours a day, 7 days a week?’ Keeping banks open all the time was part of the original ideal solution but it was very expensive.

Innovation through Minimization

Idea to Value

Most banks will only make loans of hundreds or thousands of dollars and only to people with good credit ratings. Yunus’s bank, Grameen, gave tiny loans to entrepreneurs too poor to qualify for traditional bank loans.

FinTech and Machine Learning

IdeaScale

According to Fortune Magazine, some of the top financial technology trends for 2017 are consumer trust, buying behavior, mobile banking, blockchain, cybersecurity, and access. To learn more about Standard Bank’s internal innovation community, download the case study here.

Disrupting Markets – Why PayPal Is Worth More Than Ebay

Adam Hartung

Paypal is increasingly becoming a threat to traditional banks. Today most folks use a bank for depositing a pay check, and making payments. There are loans, but frequently that is shopped around irrespective of where you bank. eBay was once a game changer.

How Open Innovation Can Be Used in the Financial Sector

InnovationManagement

In a recent article, The Financial Brand discussed the biggest threats to the financial and banking industry. Strategies compliance innovation management open innovation security standard bank technologyThey included a long list of everything from profitability to making good hiring decisions. However, we thought that there were a few problems that could be particularly fruitful when applied to open innovation systems.

Innovations in Fintech

Innovation Excellence

Finance banking industry FinTech

Data 101

FORRESTER: Financial Services Innovation Requires Digital Tech, Matchmaking, and Discipline

Spigit

Banking is an old business. But in the past year, the rapid adoption of financial services innovation technology has catapulted banking, insurance, and financial leaders into the now.

Listen to Employees When Evaluating Leadership

Adam Hartung

A Banks jumped onto the list as #4 in 2013. A Banks and Family Dollar. 24×7 Wall Street just released its fourth annual analysis of the worst companies to work for in America.

Successful Strategy: Why it’s a Social Thing

Innovation Excellence

Innovation Leadership People & Skills Processes & Tools Strategy Association leadership Global ecosystem senior executives World BankConsider who needs to be on board for success. Your board of directors? The senior leadership team? Particular committees?

Small “i” Insights or Large “I” Insights Yield Different Innovation

Gregg Fraley

So, if a consumer says, “I want a faster bank teller” or “I’d like to get in and out of the bank quickly” a literal problem frame would be “How might we make a teller more efficient?” World’s first ATM at Charring Cross in London, 1968.

Data 55

ITU Telecom World 2017: Exploring Smart Digital Transformation

InnovationManagement

News AI artificial intelligence banking conference fintech Internet of things IoT itu telecom telecomQuestions about the role of AI, IOT, fintech, and more are at the heart of ITU Telecom World 2017, the leading tech event for governments, large businesses and SMEs, organized each year by ITU, the UN’s key agency for ICT matters.

The job for life is gone? Not for everybody!

Eddielogic

What really surprises me is how many people are totally stunned when they realize that this insight applies to them … Continue reading → Banking Industry Practice employees financial turmoil motivationBy now, word has gotten around that that there is no such thing as a “Job for Life” any longer.

TSO in the Front Row

CorporateIntel

Last night’s show at Citizens Business Bank Arena in Ontario, California was as good as any and every show we’ve seen TSO perform since we began following them around the turn of the Millennium. Christmas time. And the moment’s just beginning. From last night.

Wells Fargo’s CEO is Gone, But What About the Board, Compliance and the Other Execs?

Adam Hartung

CEO Stumpf’s testified to Congress that he didn’t know the details of what was happening at the lower levels of his bank. Any competent Chief Compliance Officer had to know, after five-plus years of firings, that the practices violated multiple banking practice laws.

The rise and rise of Entrepreneurs

Matthew Griffin

“When people come together with a common purpose anything is possible. Entrepreneurs are becoming increasingly empowered and the businesses they’re building have already torn down and transformed entire industries and you under estimate them at your peril.”.

The death of the 20th Century corporation

Matthew Griffin

“Evidence shows us that the 20 th Century Corporation is dying and that it’s being replaced by a new breed of Millennial Organisation that operates, scales and runs in an entirely new way.

Will Biometric Logins Replace Your Passwords?

Daniel Burrus

Bank notes and silver coins are starting to feel incredibly primitive or quaint at best to an increasing number of shoppers. The concepts of taking a selfie or scanning a fingerprint to authenticate our bank account is no longer an expensive or controversial idea. It has recently been estimated that one billion users will access banking services through biometric systems by 2017.