Download - Banking innovation
BANKING INNOVATIONCrowdsourcing
CONTENTSAnalysis and models - Crowdsourcing and innovation
Case studies - Examples of initiatives
Final remarks - The path to innovation
p. 03
p. 06
p. 16
ANALYSIS AND MODELSCrowdsourcing and innovation
Crowdsourcing and innovationAnalysis and models4
CrowdsourcingDistributed model for finding and solvingproblems and for production
Examples of initiatives
WIKI
MOREOPEN
MORESTRUCTURED
ENGAGEMENTfor social
causes
CONTEST onlineMICRO
VOLUNTEERING
OPENINNOVATION
SOCIALFORECASTING
Crowdsourcing and innovationAnalysis and models5
Crowd capability
DISPERSEDKNOWLEDGE
AREA+
CONTENT+
PROCESS
DIFFUSEDKNOWLEDGE
The result is unique for each company
Crowdcapability
COMPANY
Crowdsourcing and innovationAnalysis and models6
Paym
ent g
atew
ays
Crowdfunding
P2P Lending
H
ome B
anking Personal Bankers
Branches Internal communicatio
n
Area
PRODUCT
PROCESS
MARKETING
Bank
Crowdsourcing and innovationAnalysis and models7
possible partners3
CLIENTS EMPLOYEES BUSINESSPARTNERS
Area
Crowdsourcing and innovationAnalysis and models8
Area
WIKIENGAGEMENT
for socialcauses
CONTEST SOCIALFORECASTING
onlineMICRO
VOLUNTEERING
OPENINNOVATION
Internalknowledge
Charity Marketing Charity
HR
R&D
Marketing
HR
Organization
HR
Internalknowledge
Organization
Crowdsourcing and innovationAnalysis and models9
IdeaScouts
IdeaConnector
InnovativeOutcome
InnovativeOutcome
Internalideas
Externalideas
ProcessEmployees
Crowdsourcing and innovationAnalysis and models10
Content
SCOUTINGINNOVATION
DEVELOPINGINNOVATION
SHARINGINNOVATION
Internal or externalidea scouting
The idea meetsthe corporate capabilities
Improve the brand perceptionand connect with the influencers
Crowdsourcing and innovationAnalysis and models11
Content
PROBLEMSOURCING
Searchingthe questions
to ask PROBLEMSOLVING
2 dif erent perspectives
Searchingthe answers
Crowdsourcing and innovationAnalysis and models12
Criticalities
COMPOSITIONOF THE CROWD
Is it representativeof the real target
How theycan help
The form shapesthe content
GOVERNANCE COMPETENCESOF THE CROWD
CASE STUDIESExamples of initiatives
Examples of initiativesCase studies14
Barclays - Your bankCOLLECTION AND VOTE OF IDEAS ON 3 TOPICS
Distinctive elements
• Employee engagement• Three topics to cover a wide area• Promotional backing (web/TV/press) with a clear Call-To-
Action
SCOUT DEVELOP SHARE
CLIENTS
Products
Everyday banking experience
Role of the bank in the community
1
2
3www.yourbank.barclays.co.uk
Examples of initiativesCase studies15
Erste Bank - Sparkasse labCOLLECTION AND VOTE OF IDEAS ON 3 TOPICS
Distinctive elements
• Separation between topics proposed by the bank and topics proposed by the users
• Gamification: points, badges, awards, user profiles• Intense promotion on Facebook and Youtube
Mobile banking
Cashless society
Improving sparkasse lab
1
2
3
CLIENTS
s-lab.sparkasse.at
SCOUT DEVELOP SHARE
Examples of initiativesCase studies16
First Direct - Firstdirectlab
Distinctive elements
• Co-creation• Possibility to pre-test services during their development
Users canexchange theirpoint of view
about topics and contentsproposed by the bank
(e.g.: Product Design, Concept)
www.lab.fisrtdirect.com
CLIENTS
SCOUT DEVELOP SHARE
Examples of initiativesCase studies17
Avanza Bank - Labs
GOAL: listen to the customers to improveproducts and services
labs.avanzabank.se
CLIENTS
SCOUT DEVELOP SHARE
Examples of initiativesCase studies18
RBS - Ideas bankCOLLECTION AND VOTE OF IDEAS
Initiative aimed atengaging the clientsafter a troublesome
period with the internetbanking system
www.rbs.co.uk/global/customer-charter/g1/ideas-bank.ashx
CLIENTI
SCOUT DEVELOP SHARE
Examples of initiativesCase studies19
Webank - Wepad project
Distinctive elements
• Minimum duration (6 weeks)• Meetings of the experts streamed online• The most active user was awarded an iPad
GOAL: developing a mobile app through the collaboarationof six experts with the community
www.wepadproject.it
CLIENTS
SCOUT DEVELOP SHARE
Examples of initiativesCase studies20
Capital One - Developer center
Distinctive elements
• They want to create an ecosystem to enable third parties to release apps and services
• Also Credit Agricole, Axa Banque, ING and American Express released some APIs and SDKs
They realised and shared some APIs to allow a communityof developers to create new services
BUSINESSPARTNERS
developer.capitalonelabs.com
SCOUT DEVELOP SHARE
Examples of initiativesCase studies21
Accenture - Fintech Innovation Lab
Distinctive elements
• Cooperative competition• Focused geographical area• Useful for banks to be captive on cutting edge
technologies
12WEEKS
One-to-one meeting
Focus group
Strategy dev
Workshop
Networking & PR
Workspace
An incubation program whose goal is to let the banking and finance leadingcompanies meet the most innovative
technology entrepreneurs
BUSINESSPARTNERS
www.fintechinnovationlablondon.co.uk
SCOUT DEVELOP SHARE
Examples of initiativesCase studies22
Rabobank - Gamification challenge
Distinctive elements
• Engagement of students to scout new talents• The target is aligned with the goal of the challenge
70universitySTUDENTS
THE BEST CONCEPTSARE PRESENTED
at the User Experience Centerof Rabobank
BUSINESSPARTNERS
The goal is to apply gamification tothe traditional banking applications in order to produce new concepts
SCOUT DEVELOP SHARE
Examples of initiativesCase studies23
EMPLOYEESBanco SabadelCOLLECTION AND SCOUTING OF EMPLOYEES’ IDEAS
INTRANET NEWSLETTER
TO SHARETHE BEST IDEASand those that will
be developed
The bank divided the ideasinto 5 levels
and 17 categoriesaccording to their importance
for the bank
SCOUT DEVELOP SHARE
NO MORE ONLINE
Examples of initiativesCase studies24
IBM - Internal crowdfunding
IMPLEMENTATION
10 projectsFINANCED
100%
DISTRIBUTED AMONG5.500 EMPLOYEES
The first experimentinvolved
500 employees(100$ each)
EMPLOYEES
Internal crowdfunding platform for projects proposedand financed by the employees through virtual credits.
GOAL: 10.000$ - 50.000$
SCOUT DEVELOP SHARE
Examples of initiativesCase studies25
Deutsche Telekom
Platform where the top managementasks questions to the employees
about the business
Greater engagement for everyone and awards to the top contributors
SOCIALFORECASTINGCROWDSOURCING INCENTIVES
EMPLOYEES
GOAL: leveraging the knowledge of the employees about customer needs, competitorsand market trends into useful data for managerial decision making.
SCOUT DEVELOP SHARE
Examples of initiativesCase studies26
More examples of social forecasting
ASSESSMENTOF NEW INNOVATIVE
IDEAS
SALES FORECASTINGFOR
SINGLE PRODUCTS
MARKET TRENDSAND DEMANDFORECASTING
SALES FORECASTINGOF NEW OR EXISTING
PRODUCTS
More accurate forecasting (22% better
than traditionalmethod)
Gives quick warnings in a highly volatile market
Examples of initiativesCase studies27
eToro - Hackathon
Distinctive elements
• High focus of a large group of people in a short period of time
• Many easy-to-do ideas emerged• Clients were engaged through videos and blog posts during
the Hackathon• Occasion for training (P2P knowledge among employees)
EMPLOYEES
48H NO STOP to develop new ideas and share knowledgewithin the company
PRETOTYPING (lean startup model)
SCOUT DEVELOP SHARE
Examples of initiativesCase studies28
Linkedin - Hackday Linkedinlabs
food, drink& yoga
industry leadersand investors
awards
EMPLOYEES
One friday each month the employees are free to work on what they want and share their work on an internal platform
The projects are presented to the community during an event and are evaluated by the top management
Examples of projects: Inmaps, Year in review, Mocha
BUSINESSPARTNERS
Public hackday24H NON STOP hacking open to developers
hackday.linkedin.com
www.linkedinlabs.com
Examples of initiativesCase studies29
Linkedin - [IN] cubator
The best projects are selected duringthe internal events
EMPLOYEESTypes of projects
• New products• New revenue streams• Internal tools• Technology improvements• HR processes• Training programs• Philanthropy
Possibility given to employees to WORK FULL TIME ONTHEIR IDEA for 1 - 3 months
FINAL REMARKSThe path to innovation
Path to innovationFinal remarks31
The path to innovation
Define the innovation area
Create and share a strategic narrative for the organisation
Top management on board
Stimulate a wide mix of diferent points of view
Attract and provide intentives to the innovation partners
Metrics
1
2
3
4
5
6
CREATE A SPACE TO
INNOVATE
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