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Innovation in Retailbanking

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Balance in innovation …

Balance in innovation
Nine thoughts to provoke innovation

Published in: Business

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  • Transcript

    • 1. Innovation in Retailbanking? The Little Light on the Left Wichert van Engelen European Retail Banking Forum Vienna, march 15th 2008
    • 2. Internal hurdles
      • Not invented here
      • IT-investments are scattered
      • We first need a strategic vision
      • We lack knowledge and experience
      • We first need to re-organize
      • Fatalism (ok, but we are not like Google)
      • Short termism (the shareholder-value!!!)
      • Our bright ideas will be stolen by others
      • It’s not our core-business
      • Too complex data-handling
      • Our services are too complex, they only can be dealt with by personal advisors
      • Our normal IT is not even on track
    • 3. External hurdles
      • No market
      • Not known by clients
      • Cannibalism
      • Use of internet by elderly
      • Regulations, Laws and more regulations
    • 4. Ideeen Genoeg Slagvaardig innoveren in de dienstverlening
    • 5. Nine Thoughts
      • Look for Fresh Money
      • There are more than enough ideas
      • Develop your eighth sense for the future
      • Implementation is far more important than ideas
      • To innovate you have to work structuraly non-structured
      • Use the power of Now
      • The organisations: a hybrid model
      • Be aware of the game, the actors and their roles
      • Just do it!
    • 6. More of the same money Incremental Radical New Business creation Radical innovation in current business Continious improvements Fresh money
    • 7. 1% Innovation 99% Execution Grow by managing mature business efficiently and incremental improvements Invest in creating future growth engines Run and win the game Change the game
    • 8. No company ever grew to greatness by cutting costs. (Jack Welch)
    • 9. Target-setting Regular target-setting Targets to provoke innovation
      • Specific
      • predictable, plannable developments
      • Less specific
      • Flexible, freedom to experiment, incremental insights, search for knowledge
      • Quantitative
      • Measurable sharp focus
      • Qualitative
      • Possibilities
      • Realistic
      • conceivable realizable
      • Provoking
      • Inspiring, madness, over-the-top, discussion
      • Loss & risc averse
      • within frames: time, quality, budget
      • Focus on succes
      • Definition of succes
    • 10. Yet….. Top always wants innovation, but choses: the well-known the short term
    • 11.
      • Ideas are like rabbits.
      • You get a couple and learn how to handle them, and pretty soon you have a dozen.
      • (John Steinbeck, novelist)
    • 12.  
    • 13. It’s not the idea, it’s the implementation
    • 14. Innovate structuraly non-structured
    • 15. Funnel 50 ideas 10 pilots 5 in production
    • 16. Innovation: It’s not a funnel. It’s a dangerous journey, from idea to money along a lot of obstacles (Eddie Obeng)
    • 17.  
    • 18. Businesscase Businessmodel
    • 19. Innovation-dial Radicality Low High Low High Passion Graveyard Line organisation Sandpit Golden mountains
    • 20. 6948
    • 21. Ships in harbour are safe. But that’s not what ships are built for. (Alan Ada)
    • 22. Case-study: Our Virtual Holland
    • 23. No central bank?
    • 24. Monopoly-money?
    • 25. Inflation?
    • 26. 4 levels of participation Collaborative working Imago / brand awareness Lead generation (Virtual) financial services
    • 27. Fundamentals Known and familiar Easy to understand structure Friendly environment Positive alternative to ‘Amsterdam’ With partners: traffic Entrepreneurial / activities International as well as Dutch
    • 28. Targets Get involved / experienced Platform for other ING activities Learn New customers Brand awareness / publicity Cooperation partners Earn money
    • 29. Lessons learned (so far)
      • Traffic by: Events, Continuous activities (educational), Environment
      • Marketing / productmanagement
      • Current residents <-> newbies
      • Partnering
      • Focus
      • Community
      • X-over virtual / internet / real world
      • Internal effects
    • 30. 7
    • 31. www.OurVirtualHolland.com Building the future today
    • 32. Reasons not to (virtual)
      • Lack of regulation
      • (Inter)national
      • Identity
      • Pyramid
    • 33. Yet
      • One day (mobile, internet, chat, e-mail)
      • The new internet
      • New-comers
      • Start experimenting / learning
    • 34. Core-business of a financial institute: Facilitate an economy (Even a virtual economy)
    • 35. Balance
    • 36. Balance
    • 37. Balance
    • 38. Balance
    • 39. Balance
    • 40. Nothing venture Nothing win
    • 41. ING