BANKING INNOVATION - coppalandini.com Innovation C+L.pdf · BANKING INNOVATION Crowdsourcing. CONTENTS Analysis and models - Crowdsourcing and innovation Case studies - Examples of

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


Crowd capability

DISPERSEDKNOWLEDGE

AREA+

CONTENT+

PROCESS

DIFFUSEDKNOWLEDGE

The result is unique for each company

Crowdcapability

COMPANY


Paym

ent g

atew

ays

Crowdfunding

P2P Lending

H

ome B

anking Personal Bankers

Branches Internal communicatio

n

Area

PRODUCT

PROCESS

MARKETING

Bank


possible partners3

CLIENTS EMPLOYEES BUSINESSPARTNERS

Area


Area

WIKIENGAGEMENT

for socialcauses

CONTEST SOCIALFORECASTING

onlineMICRO

VOLUNTEERING

OPENINNOVATION

Internalknowledge

Charity Marketing Charity

HR

R&D

Marketing

HR

Organization

HR

Internalknowledge

Organization


IdeaScouts

IdeaConnector

InnovativeOutcome

InnovativeOutcome

Internalideas

Externalideas

ProcessEmployees


Content

SCOUTINGINNOVATION

DEVELOPINGINNOVATION

SHARINGINNOVATION

Internal or externalidea scouting

The idea meetsthe corporate capabilities

Improve the brand perceptionand connect with the influencers


Content

PROBLEMSOURCING

Searchingthe questions

to ask PROBLEMSOLVING

2 dif erent perspectives

Searchingthe answers


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


Erste Bank - Sparkasse labCOLLECTION AND VOTE OF IDEAS ON 3 TOPICS


• 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


First Direct - Firstdirectlab


• 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


Avanza Bank - Labs

GOAL: listen to the customers to improveproducts and services

labs.avanzabank.se

CLIENTS

SCOUT DEVELOP SHARE


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


Webank - Wepad project


• 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


Capital One - Developer center


• 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


Accenture - Fintech Innovation Lab


• 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


Rabobank - Gamification challenge


• 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


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


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


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


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


eToro - Hackathon


• 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


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


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

For more [email protected]

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