How Eastern Bank Shifted Its Strategy to Compete with Online Lenders
Harvard Business Review
AUGUST 23, 2023
How one 200-year-old regional bank in the U.S. used intrapreneurship to compete with online lenders.
Unleashing Innovation: Mastering AI-Driven Design Thinking Strategies
Leapfrogging
FEBRUARY 28, 2024
The integration of Artificial Intelligence (AI) in this process has opened up new avenues for innovation and efficiency, leading to the development of AI-driven design thinking strategies. As a result, AI-driven design thinking strategies are emerging as a critical factor in developing innovative solutions that resonate deeply with users.
Design Thinking 
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Change the Bank: banking industry rules are changing
mjvinnovation
AUGUST 6, 2020
We have already mentioned the importance of the cycle of Run the Bank to Change of Bank and how urgent it is to monitor these transitions to remain competitive. Open Banking is a game-changer that alters the entire configuration of the banking sector. Why then, is there still resistance to Changing the Bank?
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UX for banking: journey + usability + technology
mjvinnovation
AUGUST 31, 2020
UX design has already proven to be a great strategy to help companies prioritize memorable experiences and translate them at all contact points with the user. The strategy ensures that the business vision, user needs, and technical resources are aligned. Investment in the strategy is fundamental for the process of user adhesion.
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From legal services to health care to banking, Brunner client campaigns win ADDY awards
Brunner
MAY 11, 2022
Brunner campaigns for three client partners — Edgar Snyder & Associates (legal services), Lehigh Valley Health Network (health care), and WesBanco (banking) — recently won silver awards at the 2021-2022 Pittsburgh American Advertising Awards, held by the American Advertising Federation Pittsburgh. WesBanco: “Community”.
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Open Banking: what changes in terms of our relationship with money?
mjvinnovation
SEPTEMBER 11, 2020
a bank that provides delightful experiences combining emotions and finance may seem strange, but we’ll prove that that’s not necessarily true. And not only that: in the meantime, Open Banking has become regulated, which has dramatically affected banks and financial institutions. Nor can banks be.
Change 52
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Intentionality and the Differentiating Competitive Advantage
Planview
APRIL 6, 2023
Fresh off the pain of my poor Boilermakers loss in the NCAA tournament, I reflect on what a startling competitive disadvantage you’re at if your competitor can score buckets at three times your team’s speed. Speed of software delivery is either a competitive advantage or a startling disadvantage in the digital age.
Competition 52
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How banks can build customer loyalty through design
mjvinnovation
SEPTEMBER 22, 2020
These changes in user consumption behavior must always be on your radar, for banks and other financial institutions. He no longer has time to go to the bank to manage his account or hire a service, nor does he want to sit down and listen to a broker talk about all the benefits of his insurance. Automation of services.
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Application of advanced analytics and machine learning in the banking industry
hackerearth
DECEMBER 26, 2018
Banks have always been custodian of customer data, but they lack the technological and analytical capability to derive value from the data. Whether it is a bank, non-bank, or fintech, competing in the banking revolution comes down to how efficiently the available data can be used to solve business challenges and better serve the customers.
Tart-up or Start up? Two innovation strategies for established companies
Idea to Value
MAY 27, 2019
Established companies have a cash flow from their current business, assets or goodwill to mortgage, a proven record with banks. The mindset of competition and customer satisfaction in known areas is different from that of creating new business models. Tart-up strategies. Start-up strategies. Think Harley Davison and IKEA.
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Podcast S3E54: Rita McGrath – Seeing inflection points of innovation
Idea to Value
APRIL 6, 2020
In today’s episode of the Idea to Value podcast, we speak with Professor Rita McGrath, one of the world’s most respected experts on the intersection between strategy and innovation. 00:03:00 – Resource allocation is really at the core of strategy, and innovation requires these investments as well.
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Find out how to increase customer loyalty with Meaningful Banking
mjvinnovation
JANUARY 3, 2020
We believe that Meaningful Banking is the topic of the moment, after all, figuring out how to retain customers is what will differentiate your company from the competition — especially when we take into account that the customer is more demanding than ever. There is no more appropriate methodology for creating a meaningful bank.
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Open Banking: what it is, how it works and why invest ASAP
mjvinnovation
APRIL 25, 2019
In this movement, the term Open Banking becomes a promising reality. In this article, we will demystify and simplify the open APIs concept for banks. Keep reading to see what benefits are for banking institutions, their customers and more! The banks’ challenges with Digital Transformation. What is Open Banking.
Trends and Technologies Innovating the Banking Industry
ITONICS
MAY 22, 2019
Trends will matter in the banking industry in the months and years ahead. Or maybe open banking? Now is a potential tipping point for banking: the importance of technology has never been as great in financial services as it is now. The challenge is to find out which ones are the most relevant to a given company. Maybe the cloud?
Trends 28
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5 Strategies to Reduce Hiring Time in Your Company
CMOE
NOVEMBER 12, 2020
It also ensures that you can snap up talented candidates before your competition. Here are five strategies that HR managers can use to bring down hiring time almost overnight. The post 5 Strategies to Reduce Hiring Time in Your Company appeared first on CMOE. 1) Set Up a Structured Hiring Process.
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The Future of Banking – Promises and Threats
Rmukesh Gupta
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. If you look at what a bank does at its core, it is only two things: Collect money from parties (individuals, businesses and governments) and keep them safe and pay them whenever they need the same back.
AI Has Taken the Boardroom by Storm. Here’s What You Must Know.
Planview
SEPTEMBER 19, 2023
is an internationally recognized high-tech executive with decades of experience in corporate general management, governance, strategy, technology, and operations. Suddenly, CEOs need to answer three key questions: What is your AI strategy? How will you leverage generative AI as a competitive advantage? Pallab Chatterjee, Ph.D.,
Meeting the Challenge of Innovation in a Highly Regulated Industry
IdeaScale
DECEMBER 10, 2019
Innovation strategy in a highly regulated industry presents specific challenges.?. This is where innovation strategy gets dicey, but don’t let it discourage you. The challenge is that many innovation strategies encourage sharing all ideas — no matter how outlandish — in the brainstorming and exploratory stages.
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Open X: the path to the decentralization in the financial sector
mjvinnovation
JULY 24, 2020
We have already touched on the regulation of Open Banking and its pillars. The cycle from Run the Bank to Change of Bank and how important it is to monitor these transitions to stay competitive. Given the information at hand, it’s safe to say that the entire banking sector is diving into an innovation era.
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Could a high street Bank challenge Apple?
Matthew Griffin
MAY 29, 2015
Initiatives like Level 39, Finance Innovate and Fintech50 have helped position the UK as a Fintech powerhouse and the new UK Government has made it clear that it wants the UK to be at the forefront of Financial Services innovation and enabling more innovation around bank data is one way to ensure that that happens. Conclusion.
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Celebrating Achievements: A Recap of Customers Honored at Planview Accelerate 2023
Planview
SEPTEMBER 20, 2023
Here is a brief look into this year’s winners: Chevron Nicolas Cooper, Portfolio Strategy Senior Analyst Chevron’s Environmental Management Company (EMC) manages remediation and asset retirement obligations for over 650 sites across the United States.
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Top 5 Digital transformation use cases for the BFSI industry
Acuvate
JUNE 22, 2022
“Digital banking,” “super apps,” “hyper-personalization,” “customer experience,” and “agility” — are the terms redefining the BFSI industry today. Additionally, even though banks invest large sums of money in contact centers for handling inbound customer queries, a majority of these calls are generic and repetitive.
Industry 52
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Our innovation era: creative destruction or destructive creation- which?
Paul Hobcraft
JULY 7, 2021
Competition fell away; they went into troughs of uninspiring innovation for some time. Let’s be honest; the banking industry has not been so innovative in many ways besides enhancing wealth creation by using financial instruments or to sustain the existing ‘world order constantly’. Pressures suddenly built.
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China the story of innovation and disruption.
Paul Hobcraft
OCTOBER 6, 2021
We have so many on-demand services, products, fashion, groceries, cosmetics, food, banking, wellness, lifestyle, health and eyewear choices online, all changing our past ways of life. Any company today is undoubtedly forced to rethink its digital strategy. Why does China have a natural advantage?
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So what is value creation?
Paul Hobcraft
MARCH 20, 2022
Stock is a static value: money in the bank, or trees in the forest. It’s the hybrid strategy.” Clearly, the ultimate objective is to enhance the organization’s abilities in the longer-term to appreciate the growth strategy. It is the Knowledge and Innovation combined that make the firm competitive. Easy – too easy.”
What Role Does Practicality Play in Innovation?
IdeaScale
SEPTEMBER 25, 2019
Banking from your phone is one example of innovation with practical results. To marry practicality to innovation and get results, you must start by defining an innovation strategy that is meaningful to your particular organization. A Simple Model for a Practical Innovation Strategy. It consists of five steps : Think differently.
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Tournaments: Collaboration for a Rapid Outcome
Imaginatik
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. Apps for Climate Competition ” intended on bringing together the best ideas from all kinds of collaborators: Scientists, developers, social organizations. We will be delighted to help.
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Our innovation era: creative destruction or destructive creation- which?
Paul Hobcraft
JULY 7, 2021
Competition fell away; they went into troughs of uninspiring innovation for some time. Let’s be honest; the banking industry has not been so innovative in many ways besides enhancing wealth creation by using financial instruments or to sustain the existing ‘world order constantly’. Pressures suddenly built.
Creativity 211
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What the Cannabis Business Needs in Order to Thrive
Business and Tech
DECEMBER 14, 2021
Finding technology solutions that allow dispensary owners to focus on running their businesses effectively is key to succeeding as competition heats up in the industry. High state taxes and federal inaction on banking. The two main challenges for cannabis businesses today are compliance and efficiency.
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Innovative Businesses Prioritize Creativity
Daniel Burrus
FEBRUARY 3, 2021
For example, Citibank started as the City Bank of New York in 1812, making them over 200 years old! What many don’t realize is that as time has passed and the world has changed, their traditional products and services may continue to sell well, but the margins are much lower and there is much more competition. The Test of Time.
Creativity 89
89 Choosing the Digital Transformation Strategy that is Best for Your Company
Qmarkets
JANUARY 20, 2018
Similarly, when it comes to selecting a strategy for digital transformation, one must leave emotion behind and base the decision on what is best for the company. caption id="attachment_45283" align="aligncenter" width="640"] Capgemini’s Digital Strategy Articulation Framework. How can they transform? Source [/caption].
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Proving the Value of Innovation: How Innovation Departments Measure Their Impact
Innov8rs
MARCH 8, 2024
Click to play the full session recording The Evolving Role of Innovation Departments Innovation departments maintain a company's competitive edge through continuous reinvention and adaptation. Ben highlights the challenge of conveying complex financial analyses, such as the Monte Carlo simulation, to a diverse audience.
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Why should your company be a Business to Experience company?
mjvinnovation
APRIL 12, 2021
These companies caused an unprecedented movement in the banking sector by elevating the consumer to the role of protagonist in the process of developing new digital products and services. We talk more about this both in thi s blog post on innovation in the financial sector , and in our Meaningful Banking e-book. How does B2E work?
Company 52
52 Relying on outdated tools or conditions
Jeffrey Phillips
MAY 15, 2023
In the uncertainty we face today (this post was written in May 2023), many business leaders are facing uncertainty about what strategies to implement, what plans to make. Profitable because getting these bets right, investing and moving into new opportunities or spaces before competition means higher revenue and margins.
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Manoj Khanna
Innovation 360 Group
MAY 17, 2018
For over 18 years I’ve helped strengthen teams from large commercial insurance companies, investment firms, big commercial banks, and media & telecom agencies within continental North America, Europe and Asia. Business Strategy. I’ve challenged their status quo, refined processes with solutions, and strengthened their delivery.
3 Purchasing Strategies When You’ve Got A Low Budget
The Human Factor
NOVEMBER 8, 2018
Very few entrepreneurs launch a new business with all the funds they need in the bank. Admittedly, it’s not impossible for new companies to be granted a commercial bank. Indeed, leasing equipment can let you upgrade the technology you use without breaking the bank. Contributed post –. Find an investor who believes in you.
Strategy 28
28 
China the story of innovation and disruption.
Paul Hobcraft
OCTOBER 6, 2021
We have so many on-demand services, products, fashion, groceries, cosmetics, food, banking, wellness, lifestyle, health and eyewear choices online, all changing our past ways of life. Any company today is undoubtedly forced to rethink its digital strategy. Why does China have a natural advantage?
Disruption 130
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Big Techs in the insurance market: how to use a User-Centrism strategy to address them?
mjvinnovation
NOVEMBER 27, 2019
We present a User-Centric strategy that can be used as a powerful tactic to address them. . Will the same thing happen to insurers that happened in the banking institutions? How can a User-Centrism strategy help you tackle Big Techs? What do you think of our proposal for a User-Centrism strategy to address them?
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Big Techs in the insurance market: how to use a User-Centrism strategy to address them?
mjvinnovation
OCTOBER 11, 2019
We present a User-Centrism’s strategy that can be used as a powerful tactic to address them. Will the same thing happen to insurers that happened to the banking institutions? How can a User-Centrism strategy help you tackle Big Techs? One of the markets that is feeling the pressure of Big Techs is insurance.
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Big Techs in the insurance industry: how to use a User-Centrism strategy to address them?
mjvinnovation
JUNE 21, 2019
In this article, in addition to helping you think about who Big Money is and what they do, let’s present User-Centrism’s strategy as a powerful tactic to address them. Will it happen to insurers the same thing that has happened to the banking institutions? How can a User-Centrism strategy help you tackle Big Techs?
Industry 40
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Big Techs in the insurance market: how to use a User-Centrism strategy to address them?
mjvinnovation
JUNE 21, 2019
In this article, in addition to helping you think about who Big Money is and what they do, let’s present User-Centrism’s strategy as a powerful tactic to address them. Will it happen to insurers the same thing that has happened to the banking institutions? How can a User-Centrism strategy help you tackle Big Techs?
Marketing 40
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The UBS Future of Finance Challenge 2017
100%Open
DECEMBER 2, 2017
This week was the culmination of the UBS Future of Finance Challenge 2017 , an open innovation competition to find the innovators around the world who are transforming the world of banking and finance. Once again it’s been a privilege to be involved again this year and we are delighted to see this years winners announced here.
All Work and No Play May Not Help Your Bottom Line
Daniel Burrus
DECEMBER 9, 2020
Within the game, they are navigating a user interface, something we encounter every day in the personal and professional world, be it with our iPhones or a virtual teller at our bank. Focus is enhanced by interactivity, competition, immersion, and self-diagnosis. Finally, there is the objective of the game.
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62 New Retail: how chinese user-centrism transforms retail
mjvinnovation
JANUARY 28, 2020
Penned by Jack Ma, founder and former CEO of Alibaba Group, the term New Retail is part of the Five New strategy —the five different business strands that will guide the conglomerate in the coming years. About a third of the world’s population is not an account holder of any bank —they are the so-called debanked. billion users.
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