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Thanks Erick. Completely agree that passion is something which has a big role to play in whatever endevaour one takes. Passionate people naturally sound genuine and that shows trust which is another thing which banks need to focus on.  

I tend to agree with you James, the people factor is often overlooked by most banks. The importance of people in the innovation process should be recognised and more effort needs to be directed towards training and development, performance management, and more generally to the values and behavior that drive innovation at the bank. In addition, the senior management at these banks need to not only make innovation a top strategic priority, but also follow it through by ensuring appropriate commitment down the hierarchy.

In a recent survey that we conducted premised on the theme of  retail banking innovation, 73% of banks in Europe wanted to be innovation leaders in their domestic market but only 37% said that they have an innovation strategy. So the intent is definilty there but the action is missing. 

Nevertheless,  it would be interesting to learn more about back-office innovation…which generally tends to get neglected…