The Future of Banking – Promises and Threats
AUGUST 31, 2016
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.
The 5 Myths Preventing Bank Fintech Innovation
MAY 4, 2015
Banks are now big complex machines that risk losing sight of why the existed in the first place. Banks protect your money (take deposits) and in return are able to lend some of that to help the economy grow.
How To Fix a Bank in 100 Days
FEBRUARY 8, 2015
Banks have existed in a world of comfort. The high barriers to market entry like regulation and capital controls mean banks have enjoyed stable profit for decades. This made competing with banks on their terms very difficult. Banking Finance Mobile
Banks Can’t Have Innovation Because? False Certainty Kills It
FEBRUARY 1, 2015
Large institutions and especially Banks exist [… I define the need for false certainty as trying to think through every possible issue before committing a change. It strikes me as being like trying to predict the weather in 1 years time without any data, just a lot of people who’ve experienced different kinds of weather before.
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.
Idealize the Answer
JUNE 13, 2016
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.
How KBC Bank Used Crowdsourced Innovation to Create Massive Employee Engagement
JUNE 16, 2016
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.
Consumer Brutal, Chase Bank
JUNE 1, 2015
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.
Why Bitcoin Scares the Crap Out of Governments and Banks
FEBRUARY 20, 2014
Depending on who you speak to, Bitcoin is either the most perfect example of a speculative bubble or it’s an attempt by software to eat the banking industry.
Innovation through Minimization
Idea to Value
JULY 19, 2016
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.
Successful Strategy: Why it’s a Social Thing
MARCH 16, 2017
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?
FORRESTER: Financial Services Innovation Requires Digital Tech, Matchmaking, and Discipline
JANUARY 14, 2016
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.
The Bank to Developer (B2D) SDK and Business Model
APRIL 21, 2014
There are several trends converging to make FinTech and Banks being disrupted very sexy news indeed.
International Hackathon for Banking Innovation
SEPTEMBER 30, 2016
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 State of Crowdsourced Innovation in 2016: Multi-Industry Benchmark Study.
banking to hospitality to energy. respondents, banks and insurance companies run the most challenges, averaging about. A Multi-Industry Benchmark Study 2016 STATE OF. CROWDSOURCED. INNOVATION A Multi-Industry Benchmark Study 2016 STATE OF. CROWDSOURCED.
What is Preventing Mainstream Bitcoin Adoption?
JANUARY 11, 2015
BankingArguably Mid 2014 was peak Bitcoin in both the major news outlets as well as in the price. Since then the price has fallen, competitors have emerged and the hype as dipped.
Wells Fargo’s CEO is Gone, But What About the Board, Compliance and the Other Execs?
OCTOBER 15, 2016
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.
Innovations in Fintech
OCTOBER 13, 2016
Finance banking industry FinTech
The job for life is gone? Not for everybody!
SEPTEMBER 15, 2015
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.
The Buyer's Guide to Innovation Management Software
in the bank? THE BUYER’S GUIDE. TO INNOVATION. MANAGEMENT SOLUTIONS THE BUYER’S GUIDE TO INNOVATION MANAGEMENT SOLUTIONS 2 1 2016 Gartner CIO Agenda Report 2 The Forrester Wave™: Innovation Management Solutions, Q2 2016 In less than a decade, innovation.
Financial Institutions Eager to Buy, Invest in Fintech Startups
FEBRUARY 16, 2017
The global bank Banco Bilbao Vizcaya Argentaria (BBVA) recent purchased Mexican online payments startup Openpay as part of what it calls a strategy "to accelerate transformation by growing its portfolio of digital businesses." Earlier in 2016, the Spain-based institution acquired the Finnish online business banking service Holvi.
Innovation in the workplace – are you doing enough?
OCTOBER 7, 2016
Earlier this week, Simon Hill spoke with James Goad of Owen James Events, ahead of the upcoming “Meeting of Minds Bank and Brand Distribution of Retail Financial Services” Event, with the aim to explain the importance of innovation in the workplace.
Have the Banks already been Disrupted?
MAY 17, 2015
“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.
The Banks Guide to scouting Fintech
MAY 26, 2015
“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.
Innovating against conventional wisdom
MAY 6, 2015
We recently completed a project for a large retail bank. The conventional wisdom is that all Millennials and Gen Y and Gen Z will never use or frequent a retail bank. They are too wired in, too mobile and too dependent on the internet to ever darken the door of a branch bank. All the smart money in the retail and commercial banking sector is in payments and money movement, not in retail banking.
My fridge can disrupt your Bank
JULY 23, 2015
For banks one of the first potential opportunities comes not from some fantastically complicated financial instrument but from the common a garden fridge. .
Could a high street Bank challenge Apple?
MAY 29, 2015
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.
How to Design for Outcomes
DECEMBER 28, 2014
One of the case studies that he talks about is work that his firm did for a bank that was trying to get existing customers to buy more products from them, rather than spreading their banking across multiple banks. It’s always a bit dangerous to be “inspirational.”
Will Biometric Logins Replace Your Passwords?
APRIL 27, 2016
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.
7 Disruptive Forces for 2016 and Beyond
JANUARY 26, 2016
As the first month of 2016 comes to a close, here are seven forces of the future poised to shift the way we live, work, bank, and vote.
Banks: Too large to fail, easy to Disrupt
MAY 5, 2015
“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.
The first of 3 key success factors of innovation management
MARCH 3, 2016
At Exago, we’ve worked with extraordinary clients, such as Fleury, and others from pharmaceutical, banking, utilities and telecommunications industries – across four continents – to help them mobilise targeted communities to solve key business problems by learning from them and with them.
10 Industries The Internet of Things Will Change Forever
OCTOBER 17, 2016
Retail banks can also mimic how retailers are starting to place sensors in stores to suggest product details, discounts and recommendations through the consumers’ smartphones. According to McKinsey, linking the physical and digital worlds could generate up to $11.1
A Digital Trust Architecture
FEBRUARY 28, 2017
An internet-scale digital trust architecture will be characterized by the following architectural elements: Digital banks: cloud infrastructure offering data valuation capabilities (e.g. Infrastructure deployed within a digital bank Edge servers.
Tournaments: Collaboration for a Rapid Outcome
AUGUST 26, 2015
A quick example: At Imaginatik, we have recently helped The World Bank develop new tools on climate change as part of their Open Data initiative. on creating new apps using The World Bank's data. Tournaments are community driven.
Three Interesting Examples of Crowdsourcing in the Financial Sector
MARCH 15, 2017
Standard Bank wanted to both raise the profile of their commitment to clean water in Africa and to find solutions to the thorny problem of sanitation in the Developing World, so they used a crowdsourcing platform to ask for and refine ideas. Crowdsourcing can add up in surprising ways.
Where to focus your innovation effort
MAY 13, 2015
OVO has done a fair amount of innovation work in the banking and financial sector. As such I would not call us "experts" in the banking or financial services space, but we've spent time there and we are always interested in new ideas that are percolating in the industry. His argument is that banking is complex and takes far too much time, when people are already overwhelmed and want more time for themselves.
Open: The Rising Prefix
AUGUST 17, 2016
Whether it’s within programming, data science, government, academia, creative content or even banking, we are seeing an explosion of initiatives built around the principles of openness, transparency and collaboration.
Disrupting Markets – Why PayPal Is Worth More Than Ebay
AUGUST 2, 2015
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.