30 August 2016
Find out more

ING, HSBC and Nordea outline barriers to banking innovation

10 September 2010  |  17493 views  |  0 golden egg

Retail banking innovation programmes can face a variety of internal barriers to success, ranging from resistance from inhouse technology fiefdoms, governance, and the demand for swift ROI, according to the panel of industry experts on the Finextra/Infosys Webcast, 'Retail Banking Innovation - Adapting to a new age', broadcast on Thursday.

Moderated by James Gardner, a fomer head of innovation at Lloyds TSB and noted BankerVision blogger, the Webcast panel heard contributions from Sanat Rao, VP & worldwide head business development and alliances, Finacle, Infosys; Stewart Bromley, head of digital solutions, HSBC (First Direct); Saul van Beurden, operations & IT banking/strategy & support, ING; and Liisa Kanniainen, VP at Nordea and executive director, Mobey Forum.

Beurden describes ING as a "strategic follower", as opposed to an "early adopter", of innovation. He says ING sees that position as having more "stability." Beurden goes on to say that banks need to recognise how many so-called "painful moments" they face off to their customers and reconcile these with what he describes as a "pleasure curve." (Such as a store offering a child's play area, while parents wait in line at the register.) He adds that ING will be making a technology announcement around this "pleasure curve" for customers in the next nine months.

Kanniainen emphasises the need for department "heroes", who are allowed to make "small mistakes" without any forced mandate from a centralised innovation department. She goes on to say that by allowing small mistakes, Nordea learns from their innovation projects and improves on them. "If you do big mistakes, you burn your hands, do nothing for five years, but you don't learn," she says.

Bromley added to the idea of learning from small mistakes by recalling HSBC/First Direct's first move into video banking. He says that the bank customers were pleased with the service, but the technology used was a point-to-point platform and was therefore not scalable. HSBC/First Direct discontinued that pilot, but has since re-launched video banking, via WebEx, which is scalable and is getting a positive reaction from their clients.

This webcast is now available to view on demand. Just register at www.finextra.com/innovation.

 

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ING Direct guerilla marketing stunt makes a splash

ING Direct guerilla marketing stunt makes a splash

26 August 2010  |  13566 views  |  2 comments
First direct goes World Cup crazy

First direct goes World Cup crazy

16 June 2010  |  5908 views  |  0 comments
First direct asks customers to save for a 'brainy' day

First direct asks customers to save for a 'brainy' day

25 May 2010  |  7103 views  |  0 comments
Nordea inks five year Web application outsourcing deal with Accenture

Nordea inks five year Web application outsourcing deal with Accenture

07 April 2010  |  8821 views  |  0 comments
First Direct falls foul of Twitter hack

First Direct falls foul of Twitter hack

26 February 2010  |  17047 views  |  3 comments
ING forced to sell US Internet bank

ING forced to sell US Internet bank

26 October 2009  |  12039 views  |  2 comments
First direct dares to share what customers think of it

First direct dares to share what customers think of it

13 October 2009  |  16451 views  |  1 comments
First direct in text snafu

First direct in text snafu

06 October 2009  |  5451 views  |  0 comments
ING Direct sets up bank fee comparison Twitter stream

ING Direct sets up bank fee comparison Twitter stream

02 July 2009  |  7415 views  |  0 comments
EDB wins Nordea Denmark ATM deal

EDB wins Nordea Denmark ATM deal

22 June 2009  |  5319 views  |  0 comments
First direct unveils social media newsroom

First direct unveils social media newsroom

19 June 2009  |  9530 views  |  0 comments
ING Direct targets savers with Web 2.0 micro-site

ING Direct targets savers with Web 2.0 micro-site

26 November 2008  |  10829 views  |  1 comments
First direct launches customer community site

First direct launches customer community site

21 November 2008  |  7274 views  |  0 comments
Nordea to open branches in department stores

Nordea to open branches in department stores

22 September 2008  |  4524 views  |  0 comments
Banks to shift more IT offshore - Infosys

Banks to shift more IT offshore - Infosys

05 March 2008  |  6734 views  |  0 comments
Infosys spends $60m on Finacle upgrade

Infosys spends $60m on Finacle upgrade

20 February 2008  |  6251 views  |  0 comments
First direct adapts Web banking for iPhone

First direct adapts Web banking for iPhone

21 September 2007  |  13762 views  |  0 comments
First Direct to trial mobile video banking

First Direct to trial mobile video banking

09 November 2006  |  13562 views  |  0 comments

Related company news

 
Visit www.abe-eba.euVisit capgemini.comVisit equens.com

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
8829 views comments | 22 tweets | 25 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6592 views comments | 14 tweets | 14 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
6375 views comments | 11 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
6125 views comments | 14 tweets | 8 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
5715 views 0 | 5 tweets | 10 linkedin

Featured job

Find your next job