What is the state of banking innovation today? Each year, we poll the industry to find out. Fintech funding has grown tougher to raise though total volume, because of a few monster deals, may exceed the previous year. Finovate this year pursued many themes that would have been familiar inRead More
Post Tagged with: "innovation"
We asked, you answered. In Bank Innovation’s State of Banking survey for the third quarter of 2015, conducted last week, we asked members of the financial services industry for their views on what banking might look like in 2020. 2020 isn’t as far away as it used to be (to paraphrase Yogi),Read More
The splintering of financial services is no longer something that might happen or will happen – this has happened, and seems to be fairly well accepted. “There’s an app for that” can be said for almost every major (profitable) sliver of the financial services portfolio of business. I won’t inundate you with examples, but […]
We’ve been doing digital banking for a while now, right? For over twenty years online banking has existed as a service, so what’s the big deal and why is this now “a thing”? Well recent years have seen an explosion of new offerings and angles such that the term digital banking is no longer suitable […]
Why You Need To “Blow Up” Your Legacy BI Platform and How to Start Again With a Sustainable Layered Approach
Data is important and the key to deriving information which can drive meaningful decisions. Yet most organizations have a data stack that is sprawling, brittle, unwieldy, and when it comes to driving information for key decisions often not useful. Organizations that are dealing with such legacy systems might […]
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. Somehow we ended up with organisations employing 100s of thousands of people & riddled with complexity. […]
Banks have an opportunity to innovate their way out of today’s challenging business landscape, but first they need to actually innovate. Banks are not innovative organizations, and they lag behind other industries in the move to digital that has already upended consumer tech and media. Most banks would probably counterRead More
Companies seem to have automatic “immune systems” which are designed to protect the status quo and as a result reject new innovation — especially breakthrough innovation. Innovation is a tricky area to navigate for most organizations: naysayers abound when it comes to changes, the element of risk makes people shy away from accepting innovative ideas, […]
A New Yorker cover story taking on the “gospel of innovation” chose an unlikely champion for its example of how banks should do business. Author Jill Lepore celebrates TD Bank for — resisting the urge to innovate: In the late 1990s and early 2000s, the financial-services industry innovated by selling products likeRead More
Want a job at a bank? Skip the business and economics classes and sign up for computer science. Most people in the intersecting worlds of finance and technology understand that banks need to do a better job of organizing around technology needs and understanding how innovation can help streamline financial institutions.