Engagement #3
Overview
A little big picture
Bank Strategy: Started in 2004, Tagline “Most Innovated Bank” Community Ordinated, Personal Banking, Private Banking, Business Banking, Credit Cards, Investments
Structure: 43 Branch Network, Development In-house, Steering Committee
Online presence: Cutting-edge digital banking, Award Winning
Other Comments: Progressive Management & Team
Engagement: Innovation Assessment – Execution and Structural, People and Culture Diagnostic, Recommendation – Creating Innovation Center, Accelerator Program, What Does The Bank Need, To Maintain Industry Leader Status?
Bank
Size: $15 Billion
1. Research
Highlights - Qualitative and Quantitative
- 77.44% / How effective do you think Bank is at marketing products?
- How would you classify the bank as an industry leader? 82%
Internal
2. Future State
Highlights
- Enhancing Bank’s Internal Innovation
- Focus On Incremental
- Remove Bottlenecks
- Define Target Customer Utilizing Research & Internal Data
- Implement Town Halls With Management
- Innovation Group
3. Recommendation
Highlights
Structure
For internal application process, ensure there are clearly defined domains and businesses to tie into ideas e.g. Back office, client facing etc.
- To Track ideas use a system like salesforce and customize from there
Success
- Send monthly updates company wide discussing employee innovation stories and success
Hackathon
- Co-sponsor a hackathon with an outside industry player
- Run your own hackathon
50+ Additional Recommendations
4. What Happened Next
Innovation
noun | in·no·va·tion
The introduction of
something new; a
new idea, method,
or device
