How to accelerate customer-driven innovation in banking

Sigga Sigurdardottir

Journal of Digital Banking, 2017, vol. 2, issue 2, 148-155

Abstract: Customer-driven innovation in banking is critical to creating a sustained competitive advantage in an industry that is faced with digital disruption. Banks should build innovation leadership as a core competency through focusing on developing a culture of innovation, attracting and retaining the right talent and putting in place an innovation capability that enables customer focus, collaboration and speed. Partnering with FinTechs and start-ups can help accelerate innovation and create the right innovation culture but it is important to have a system in place that supports FinTech partnerships at scale. This paper focuses on how to create a continuous innovation capability in a large organisation and highlights some of the essential dos and don’ts.

Keywords: FinTech; digital disruption; PSD2; open banking; collaboration; partnerships; innovation; culture; leadership (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2017:v:2:i:2:p:148-155

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