Culture Eats Fintech for Breakfast - MEL

Culture Eats Fintech for Breakfast - MEL

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  FINTECH FOR BREAKFAST CULTUREEATS Innovation Labs Asia
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  Global Thought Leader& Keynote Speaker on Innovation & Digital Transformation Built Innovation & Digital Ventures worth over Half a Billion Dollars in 15 years Scott Bales Former Commissioner to the Americas Senior Adviser to the G20 Presidency Founder, The Australian Leadership Project Techno-Optimist www.australianleadership.com Victor Perton Mark Danaro Technologist, scientist and educator who is passionate about unlocking the human potential in our most influential institutions to create a sustainable world.
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  Financial Services Insurance Education Media Healthcare It takes weeks,not years, of inaction to be disrupted Key industries under threat “The increasingly crowded unicorn club” Source: CB Insights
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  66% say drivinginnovation by adopting new technologies was their top concern 62% noted disruptive technologies would present the greatest challenge 84% noted disruptors would challenge their businesses directly in the next two years Top 150 Companies in Asia-Pacific
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  Big data toreceive the most investment dollars to expand analytics platforms and understanding of how to use information to drive growth Cloud & Big Data are needed to boost growth, cut inefficiencies, and engage customers actively and effectively - top innovations that will matter most in the years ahead CLOUD BIG DATA
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  Complex Experiences Broken Trust Limited Access Redundant Intermediaries UXEconomy Distributed Economy API Economy Sharing Economy Digital trends moving forward: Customer-centricity Cloud IOT AI Big Data Social Areas ripe for disruption across industries:
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  Stable Environment The Connected Company VolatileEnvironment Pod Reproduced Network forms Platform Emerges A Pod is born is a journey, not a destination Transformatio n
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  Inspiring Innovation & NurturingTransformation 3 days 18 ideas 5 teams Received investments 2 ideas commercially implemented Learnings: Methods of Lean Enterprise to progress & validate hypothesis. Programs went on to scale to become DBS Asia X CASE STUDY: DBS | BANKING
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  Pod ReproducedA Podis born
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  24.87% CAGR forcards & payments industry 60% YOY growth in internet users Processes 51% of domestic GDP Wing : pioneer of Mobile Money in Cambodia significantly contributed to nation’s economic growth. First Bank Telco partnerships for banking in Asia
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  The Barriers tosuccessful innovation are the absence of: Little to no consideration of available resources, goals & restrictions Corporate structure and environment do not support creativity, ideation Lack of talent to exploring and execute ideas with minimal waste Confined paradigm without complementing skills for faster growth Context Culture Capabilities Collaboration
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  Joint vision for futurehorizons New Capabilities Existing Capabilities Existing Market New Market HORIZON 1 Performance Zone HORIZON 2 Transformation Zone HORIZON 3 Incubation Zone Create disruptive offerings to new market Serve new market with existing offerings Create new offerings to serve existing market HORIZON 1 Productivity Zone Existing offerings to existing market What would the market say about you and your client post transformation?
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  Establish the parameters ofyour partnership success New Capabilities Existing Capabilities Existing Market New Market HORIZON 1 Performance Zone HORIZON 2 Transformation Zone HORIZON 3 Incubation Zone Create disruptive offerings to new market Serve new market with existing offerings Create new offerings to serve existing market HORIZON 1 Productivity Zone Existing offerings to existing market What are the foreseeable joint goals & objectives?
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  Understand that results arenot achieved overnight “Incremental change is better than ambitious failure. Success feeds on itself.” Existing Market New Market HORIZON 1 Performance Zone HORIZON 2 Transformation Zone HORIZON 3 Incubation Zone Create disruptive offerings to new market Serve new market with existing offerings Create new offerings to serve existing market HORIZON 1 Productivity Zone Existing offerings to existing market New Capabilities Existing Capabilities HORIZON 1 Performance Zone HORIZON 2 Transformation Zone HORIZON 3 Incubation Zone What can we have in 5 years time? How can it be better? What else can be do today? HORIZON 1 Productivity Zone Is it working? HORIZON 1 Performance Zone HORIZON 3 Incubation Zone Create disruptive offerings to new market Existing offerings to existing market Increase in Value over tim e HORIZON 1 Performance Zone HORIZON 3 Incubation Zone ROI 0-12 months ROI 36-72 months
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  The goal isto seed transformational assets “Incremental change is better than ambitious failure. Success feeds on itself.” Existing Market New Market HORIZON 1 Performance Zone HORIZON 2 Transformation Zone HORIZON 3 Incubation Zone Create disruptive offerings to new market Serve new market with existing offerings Create new offerings to serve existing market HORIZON 1 Productivity Zone Existing offerings to existing market New Capabilities Existing Capabilities HORIZON 1 Performance Zone HORIZON 2 Transformation Zone HORIZON 3 Incubation Zone What can we have in 5 years time? How can it be better? What else can be do today? HORIZON 1 Productivity Zone Is it working? HORIZON 1 Performance Zone HORIZON 3 Incubation Zone Create disruptive offerings to new market Existing offerings to existing market Incubated Idea eventually replaces existing core
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  CASE STUDY: Telenor |Telecommunications Opening doors to opportunities Build scalable business models and solve business challenges through the lean startup philosophy. Two ideas were commercialled in Europe Telenor now a big data and analytics provider to national tourism boards Laid foundations for retailer transformation Launch new ventures in multiple markets New lines of revenue Increase customer retention 7 ideas7 countries
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  Write a pressrelease - Writing a press release upfront clarities how the world will see the outcome of the partnership, not just how it’s thought about internally Craft customer journey stories - The goal here is to tell stories of how the customer is solving their problems, you the product you’ve created. Build mockups or write use cases if it helps. Write the user manual - The user manual is what a user would use to find out what the product is, and how to use it. Create an FAQ document - put yourself in the shoes of someone using the product, and think of all the questions you would have Transformation Vehicles
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  CULTURE “Culture eats strategyfor breakfast” P.S: and it’s not about wearing jeans Plan resources to support Innovation for it to take place Innovation Champion & Challenger Instruments to guide the innovation journey Vehicles & assets to innovate
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  Start with why Grassroots-level empathy Lessons not failure Enablea culture of curiosity, structured empathy and opportunity design Experimentation Culture: Customer-Centric Culture: Purpose Culture:
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  Develop the abilityto innovate & execute great ideas, like a startup, with “low wastage” Apply best practices frameworks across problem discovery and validation Build internal talent & champions and enable them with resources to pursue opportunities Account for the value of innovation to commercialise the opportunities with fewer resources Quantify Success Explore multiple options Rapid validation
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  Working with over100 companies in various stages of the innovation journey
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  Returns Short term prioritiesthat lead to long-term Innovation Goals Collaboration CapabilityCulture Context Innovation Acceleration Innovation Bootcamp Innovation Practitioner Executive Inspiration Session Inspiring action around opportunity, threats & barriers to innovation. Horizon 1 | ROI in 0-12 months 12 weeks acceleration program 3 days Innovation practitioner workshop 5 days bootcamp 6 weeks situational Analysis Report Proof of Value Proof of Concept Enabled Innovation Innovation Education Discovery & Planning
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  The Leader lookslike the Person in Your Mirror 
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  What makes youoptimistic? 
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  The Optimistic Leader VictorPerton
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  Techno-Optimist Multimedia Victoria Chaired Australia’sFirst Data Protection Committee Australia’s First Electronic Town Hall Australia’s First MP with a website Moderated the World Bank’s First online Forum
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  Author: “The Case forOptimism: The Optimists’ Voices”
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  Good Australian Leadershipis Egalitarian
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  “The unique qualitiesof Australian leadership are closely attuned to the Australian spirit of egalitarianism. By ‘egalitarianism’ I don’t mean a demand for economic equality, but rather the principle that no-one is intrinsically (by their personal status, education, social class or institutional role) owed the type of special respect, trust and deference that accompanies notions of authority & leadership.” Dr Hugh Breakey
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  Ed Wilkinson, Diplomat “Theone overarching trait that stands out to me more often than not amongst Australian leaders is egalitarianism.”
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  Good Australian Leadershipis Funny
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  Dr Graham Mitchell "Inmy experience on the world stage, we Australians, as compared to Indians, Chinese, Americans and Europeans, are characterised by not taking ourselves too seriously. Even when the atmosphere is sombre, we can lighten up the room with humour and vignette of comedy."
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  Janine Kirk Chief Executiveof The Prince’s Charities Australia "I think Australian leadership has an underlying sense of self-deprecation, and humour which has an ability to put people at ease."
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  Good Australian Leadershipis Authentic No B.S.!
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  Pip Marlow CEO CustomerMarketplace, SUNCORP “Straight-talking: You tend to know when there is an Australian in a meeting. They don’t shy away from expressing their views or asking difficult questions in a very straightforward way. We don’t like to pussy foot around. My overseas counterparts tell me this can take some getting used to but it’s also a quality they respect.”
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  All Good Leadershipis Optimistic
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  Dominic Barton Global CEO,McKinsey “Optimism is at the very core of leadership. The best leaders I have encountered in my career are those that remain optimistic –- and ambitious -– for their organisations even in the face of great adversity. They are those whose optimism enables them to recognise the potential in others, and help them develop to be leaders themselves”
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  Catherine Tanna CEO, EnergyAustralia “Without optimism, what are we? With optimism, we can be anything.”
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  Professor Jane Burns “Peopletalk about tenacity and resilience and strength of character but it is optimism that drives behaviour when on some days it would be easier to say “stop - I give up, it’s too hard. Optimism is believing in the impossible and then taking the steps to make it possible.” 1 Email to Victor Perton on The Case for Optimism”
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  John Hagel “Optimism isthe key to cultivating more of our human potential. We have infinite potential, but most of us tap into a very small portion of our potential because of fear or an inability to imagine the possibilities. Optimism is essential, but so is a realistic sense of the obstacles and roadblocks we will face on our journey.”
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  “Optimism is thetriumph of hope over fear, of truth over deception, but it must be grounded in reality.  Optimism without realism is just a dream; hope alone is not a strategy.  Detailed planning of scenarios, laying out of plans towards an ambitious goal, and then inspiring a team to climb that hill together with passion and a mission greater than oneself – that combination is a sure path to success.” Mick Farrell Resmed
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  “We can’t haveinnovation without optimism - hope and confidence about the future. We now think of innovation in economic terms - about the wealth it will create - but innovation is creativity, it is doing and believing in making life better. Innovation is, in turn, optimism.   Cecilia Hilder
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  How do youbecome more optimistic in a mire of bad news? Turn down the News!
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  "people are hungryfor stories about #optimism and hope" Dave Hollis Disney Studios
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  Innovation Approach a problemby looking at it from different angles     85% of optimists 26% of pessimists Source: PsychTests.com Advantages of Optimism
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  Able to findthe good in even the most disagreeable of people • 69% of optimists • 19% of pessimists Source: PsychTests.com Advantages of Optimism
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  “The link betweenoptimism and longevity is strong”  Dr Carol Graham, Leo Pasvolsky Senior Fellow Brookings Institution Advantages of Optimism
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  Advantages of Optimism Anoptimistic spouse is better for your health! University of Michigan
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  The Leader lookslike the Person in Your Mirror 
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  What makes youoptimistic?
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  Enabled Innovation Executive Advisory Strategic Advisory Field Research Product Development Rapid Prototyping Market Entry Strategy Disruptive Innovation
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  It is notthe strongest of the species that survive, nor the most intelligent, but the ones most responsive to change. Start your innovation journey with Innovation Labs Asia, today / Charles Darwin Contact Us: Innovation Labs Asia hello@innovationlabs.asia Lvl 4, 101c Telok Ayer Street, Singapore, 068574