Innovation expert Amy Radin says banks can start their journey by asking how their next important project can change people’s lives.
Mitek’s Mobile Verify captured the BAI Innovation Showcase Award at BAI Payments Connect 2016 for automating ID authentication to boost mobile account opening success rates.
Innovation in retail financial services is alive and well as leaders in every region of the world recognize the need for change to better serve customers by building innovative cultures.
Digital transformation is complex for any bank but the complexity can be reduced by focusing on incrementally connecting the customer experience across channels.
Bankers often are criticized for being digital dinosaurs, but there’s a valid reason for them not embracing disruptive change: customers don’t want it.
Banks wishing to sustain innovation need to adopt the ‘inside outside’ model of working through both internal processes and venture capital investments.
Community banks don’t usually have the resources to create innovation labs, but they can stay on the leading edge by understanding their own business model, leveraging outside help and following through on a well-defined plan.
Winners of the 2015 BAI-Infosys Finacle Global Banking Innovation Awards focused on improving the customer experience.