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Change the Bank: banking industry rules are changing

mjvinnovation

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?

Change 52
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UX for banking: journey + usability + technology

mjvinnovation

With the regulation of Open Banking and data sharing by financial institutions, UX becomes an invaluable tool. This is true for many sectors and transactions – including banks; Speak with a chatbot capable of solving all your doubts according to the company’s rules and standards.

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New Business Designs can be delivered through a Business Ecosystem Approach.

Paul Hobcraft

The main framework around the Hierarchy of Business Ecosystems Needs is over on www.ecosystems4innovating.com; in a series of detailed posts on each layer of the Ecosystem construct, take a look at each part in explanations of why each Ecosystem is interconnected and feeds the others.

Design 147
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Destructive and Constructive Innovation

Jeffrey Phillips

Today I read a long post that claimed that up to 30% of the banking jobs in the US would be "destroyed" by innovation. No longer will we need bank tellers. Any job that can be automated or done by machines will be. This is a classic case of creative destruction, described by Schumpeter as a component of innovation.

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What is the prosperity paradox? A refresher on the key to ending poverty. 

Christensen Institute

Wells are constructed when there’s no access to clean water. Henry Ford’s Model T innovation spurred significant investment in American infrastructure by providing a tax base to support construction of roads. Schools are built when there’s a lack of access to education. Sometimes, cash is provided when people lack money.

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Our innovation era: creative destruction or destructive creation- which?

Paul Hobcraft

Still, we are losing the ability to understand all the consequences of decisions, with unforeseen knock-on consequences.For instance, if our banks don’t change as society perceives they should, and the policymakers seem unable to work through the complexity of this level of change. How will we manage the feeding of the world in years to come?

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Our innovation era: creative destruction or destructive creation- which?

Paul Hobcraft

Still, we are losing the ability to understand all the consequences of decisions, with unforeseen knock-on consequences.For instance, if our banks don’t change as society perceives they should, and the policymakers seem unable to work through the complexity of this level of change. How will we manage the feeding of the world in years to come?