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Bo Harald

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Bo Harald - ZEF and Real Time Economy Program

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

It all boils down to change resistance

02 May 2010  |  2664 views  |  0

I have the privilage to work with innovation streams in several areas and have lately seen the following elements as pivotal:

1. Do we have the capability to create a strong enough vision for the need for change = innovation?  Without Vision – no Enthusiasm – without Enthusiasm - no Innovation.

2. Do we realize that in today’s world you have to engage a wide network from the outset – service providers networking, co-innovation with customers, regulators enabling, brave politicians driving, consumers understanding?

3. Do we realize how many in this wide network have the capability of knowing why NOT and how many are needed with the WHY not attitude?

4. Do we have the so-opinion-shaping mass media with us? Giving credit to efforts driving open and transparent change in both business and public sector services and processes. And then rather naming and shaming those who do not know that “Clinging to the past has never been a good strategy” – or focus only on todays shortages – having forgotten Wayne Gretsky’s universally applicable wisdom: “Do not go where the puck is – go where it is going!”

When we addressed these – so-much-needed-new-ideas will travel fast to good-for-society-at-large innovations.

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