Have you experienced one of these business dilemmas?
- Your company is not equipped to cope with or support paradigm-shifting changes.
- High barriers to entry and inefficient organizational structure limit creativity.
- Ingrained processes and internal politics negatively affect attempts to innovate.
It’s a constant challenge, as well as an opportunity, to innovate and future-proof any business, large or small. We work closely with financial institutions (FIs) around the globe, and we’ve seen firsthand how fintech start-ups, new challengers and digital-only banks are changing the way people view their relationship with their bank.
FIs are under huge pressure to adapt, stay relevant and rethink their approach to connecting with consumers. Yet often, we see that ingrained processes, a “that’s the way we’ve always done things” mentality and/or a fear of the unknown tend to hamper or stall out new innovations and creative solutions to modern-day pain points.
Our conversations and collaborations with our international customers inspired and intrigued us to look for new, creative ways to innovate our own approach to banking transformation. We partnered with Jovoto, an online “crowdstorming” platform, to collect innovative, unexpected ideas for modern financial services.
Tapping into a global pool of Jovoto’s most elite members, including industrial designers, art directors, product developers, web designers, film directors, service designers and more, we opened a contest that asked them to address a clearly identified need they saw in the financial industry, and fundamentally re-imagine how to solve the problem. To vet the submissions, we assembled an international panel of retail banking experts as our jury.
The contest is just about over, and soon we’ll reveal the results of the challenge, including the winning concepts, in an exclusive webinar moderated by ATM Marketplace’s Suzanne Cluckey.
In the Nov. 15 webinar, Suzanne and I will meet with Jovoto and explore the thought process that led to the winning ideas, discuss themes and trends in banking transformation and talk about what FIs can do to remain innovative, and discuss consumer-centric solutions and tailored touchpoints for the digital era.
Join me at 10 a.m. EST, November 15: “Exploring Groundbreaking New Approaches to Banking Transformation from a Global Community of Innovators.”
Intrigued? Find out more about how we’re driving innovations in branch and banking transformation.