The document discusses how financial institutions are increasingly looking externally to partner with organizations like FinTech companies, universities, and technology providers to innovate more quickly in response to changing market dynamics. It provides examples of partnerships between banks and these external organizations focused on developing new technologies, products, and business models. The document advocates that financial institutions leverage external partnerships and collaborations to access new ideas, technologies, and talent in order to accelerate their transformation and seize opportunities in the evolving financial services industry.
InsureNXT-Unicorn session_Final 21 April 2021.pdfAlchemy Crew
These slides aim to share within our community the great achievements from unicorns.
The challenges to get there and the opportunities within our insurance world.
Applied Innovation for the UnorganizationCapgemini
Many organizations are not designed to innovate effectively or fast. They lack the necessary processes, talent, risk tolerance and leadership alignment, as well as a culture that encourages, rewards and promotes innovation. In order to innovate effectively, the traditional organizations need to embrace the “Unorganization” structure to meet today’s market demands.
Capgemini’s new and tested global Applied Innovation Exchange network, breaks the traditional model; instead taking a multi-party collaborative approach and balancing external and internal thinking to assist organizations in cultivating and applying innovation within their enterprises, and specifically to their most strategic business processes.
Presented by Lanny Cohen, Group Chief Technology Officer, Capgemini at Sogeti’s VINT Symposium
Learn more on Capgemini’s Applied Innovation Exchanges: https://www.capgemini.com/applied-innovation-exchange
A Seed/Startup Venture Fund & Collaboration Community working with, supporting and compensating Incubators, Universities and Economic Development Agencies
Research about accelerators, main important academic research . Selection, curation of +80 academic papers and reports in business accelerators, VC, CVC, Angel Business, Startups, Serial Entrepreneurs. Insights and conclusions of the main findings. (Draft for a Msc Business Innovation Thesis)
InsurTech & The Sharing Economy - An Insurance Market PerspectiveAlchemy Crew
On 5th & 6th April EXEC Berlin conducted a conference on the worlds of FinTech & InsurTech. I shared my point of view from an InsurTech Sharing Economy view point.
InsureNXT-Unicorn session_Final 21 April 2021.pdfAlchemy Crew
These slides aim to share within our community the great achievements from unicorns.
The challenges to get there and the opportunities within our insurance world.
Applied Innovation for the UnorganizationCapgemini
Many organizations are not designed to innovate effectively or fast. They lack the necessary processes, talent, risk tolerance and leadership alignment, as well as a culture that encourages, rewards and promotes innovation. In order to innovate effectively, the traditional organizations need to embrace the “Unorganization” structure to meet today’s market demands.
Capgemini’s new and tested global Applied Innovation Exchange network, breaks the traditional model; instead taking a multi-party collaborative approach and balancing external and internal thinking to assist organizations in cultivating and applying innovation within their enterprises, and specifically to their most strategic business processes.
Presented by Lanny Cohen, Group Chief Technology Officer, Capgemini at Sogeti’s VINT Symposium
Learn more on Capgemini’s Applied Innovation Exchanges: https://www.capgemini.com/applied-innovation-exchange
A Seed/Startup Venture Fund & Collaboration Community working with, supporting and compensating Incubators, Universities and Economic Development Agencies
Research about accelerators, main important academic research . Selection, curation of +80 academic papers and reports in business accelerators, VC, CVC, Angel Business, Startups, Serial Entrepreneurs. Insights and conclusions of the main findings. (Draft for a Msc Business Innovation Thesis)
InsurTech & The Sharing Economy - An Insurance Market PerspectiveAlchemy Crew
On 5th & 6th April EXEC Berlin conducted a conference on the worlds of FinTech & InsurTech. I shared my point of view from an InsurTech Sharing Economy view point.
Self-Service in Wealth Management: Remaining CompetitiveCapgemini
Globally, companies are using digital technology to transform the way they run operations. This transformation is being driven by the increased sophistication of new channels such a mobile and social media. Across financial services, banks, brokerages and insurance companies are leveraging these evolving technologies to enable self-service capabilities so customers can resolve issues or get information without interacting with a representative. This paper looks at self-service in wealth management and examines the impact to deliver a forward-looking cross-channel client experience.
Cybersecurity Talent : The Big Gap in Cyber ProtectionCapgemini
Read the latest report from the Digital Transformation Institute titled “Cybersecurity Talent : The Big Gap in Cyber Protection”. The report is based on a survey of 1200 employers and executives as well as social media analysis of 8000+ employees. It focuses on skill gap in cybersecurity and offers eight key recommendations to organizations to address two areas – acquisition and retention of cybersecurity talent.
Learn more at https://www.capgemini.com/resources/cybersecurity-talent-gap
Entrepreneurship fintech & islamic finance v1.4Jamal Nassar
A presentation that explores the entrepreneurship ecosystem in Malaysia, relate it to Fintech and Islamic Finance.
Delivered as a talk by Jamal Nassar a Phd Candidate, at INCEIF Campus, KL, Malaysia on 5th Oct. 2016.
For more about Jamal please visit www.jamalnassar.com
By 2020, the world could look quite different than it does today. What is driving these unprecedented shifts in our global society? How will government adapt to keep up with the changing needs of its citizens?
To learn more, visit: http://deloi.tt/1ITr9eh
Imagine a future, in five to ten years time, where organisations have advanced, from today’s handful of AI proof of concepts and pilot projects, to that future where AI is fully embedded throughout the organisation.
What will the new operating models look like? How will humans and machines interact?
How should the COO prepare for this future?
What will be the role of the COO and what skills will be needed?
I offer some potential answers to these questions and propose some practical actions that the COO can take now.
Business disruption is a growing challenge for all industries. See how your industry could be affected by disruption with Accenture's disruptability index.
This Seminar will initiate a reflection regarding the extent to which innovation within the Financial Technology (FinTech) sector can and should be regulated.
The case will be illustrated with examples of the UK and EU market (e.g. the Financial Conduct Authority (FCA)’s Project ‘Innovate’ and the European Commission’s Single European Payment Area (SEPA)) and the implications for innovation will be discussed.
This will be complemented by introducing an Asian perspective as to the capacity of specific jurisdictions to frame and catalyse innovation, focusing on specific challenges and opportunities in Mainland China and Hong Kong.
Thousands of Employees, Millions of Devices, Billions of Things – Welcome to ...Capgemini
The Internet of Things is a network of connected devices fast becoming pervasive. These devices are bringing fundamental changes in the way business is done today; along with organization's internal processes and its digital strategy. These changes have already spurred a new wave of innovation and efficiency.
As the technology evolves, businesses should develop the ability to separate the true game changers from the hype and be prepared for a world where the number of things to be managed increases by an order of magnitude.
This presentation introduces the capabilities and imperatives that organizations need to advance.
Presented at Mobile World Congress 2015 by Simon Short.
Fintech New York: Partnerships, Platforms and Open Innovationaccenture
We are in the midst of a major disruption in the financial services that will see increasing adoption and evolution of disruptive FinTech solutions. Read our report released at the Fintech Innovation Lab’s Fifth Annual Demo Day Event.
Self-Service in Wealth Management: Remaining CompetitiveCapgemini
Globally, companies are using digital technology to transform the way they run operations. This transformation is being driven by the increased sophistication of new channels such a mobile and social media. Across financial services, banks, brokerages and insurance companies are leveraging these evolving technologies to enable self-service capabilities so customers can resolve issues or get information without interacting with a representative. This paper looks at self-service in wealth management and examines the impact to deliver a forward-looking cross-channel client experience.
Cybersecurity Talent : The Big Gap in Cyber ProtectionCapgemini
Read the latest report from the Digital Transformation Institute titled “Cybersecurity Talent : The Big Gap in Cyber Protection”. The report is based on a survey of 1200 employers and executives as well as social media analysis of 8000+ employees. It focuses on skill gap in cybersecurity and offers eight key recommendations to organizations to address two areas – acquisition and retention of cybersecurity talent.
Learn more at https://www.capgemini.com/resources/cybersecurity-talent-gap
Entrepreneurship fintech & islamic finance v1.4Jamal Nassar
A presentation that explores the entrepreneurship ecosystem in Malaysia, relate it to Fintech and Islamic Finance.
Delivered as a talk by Jamal Nassar a Phd Candidate, at INCEIF Campus, KL, Malaysia on 5th Oct. 2016.
For more about Jamal please visit www.jamalnassar.com
By 2020, the world could look quite different than it does today. What is driving these unprecedented shifts in our global society? How will government adapt to keep up with the changing needs of its citizens?
To learn more, visit: http://deloi.tt/1ITr9eh
Imagine a future, in five to ten years time, where organisations have advanced, from today’s handful of AI proof of concepts and pilot projects, to that future where AI is fully embedded throughout the organisation.
What will the new operating models look like? How will humans and machines interact?
How should the COO prepare for this future?
What will be the role of the COO and what skills will be needed?
I offer some potential answers to these questions and propose some practical actions that the COO can take now.
Business disruption is a growing challenge for all industries. See how your industry could be affected by disruption with Accenture's disruptability index.
This Seminar will initiate a reflection regarding the extent to which innovation within the Financial Technology (FinTech) sector can and should be regulated.
The case will be illustrated with examples of the UK and EU market (e.g. the Financial Conduct Authority (FCA)’s Project ‘Innovate’ and the European Commission’s Single European Payment Area (SEPA)) and the implications for innovation will be discussed.
This will be complemented by introducing an Asian perspective as to the capacity of specific jurisdictions to frame and catalyse innovation, focusing on specific challenges and opportunities in Mainland China and Hong Kong.
Thousands of Employees, Millions of Devices, Billions of Things – Welcome to ...Capgemini
The Internet of Things is a network of connected devices fast becoming pervasive. These devices are bringing fundamental changes in the way business is done today; along with organization's internal processes and its digital strategy. These changes have already spurred a new wave of innovation and efficiency.
As the technology evolves, businesses should develop the ability to separate the true game changers from the hype and be prepared for a world where the number of things to be managed increases by an order of magnitude.
This presentation introduces the capabilities and imperatives that organizations need to advance.
Presented at Mobile World Congress 2015 by Simon Short.
Fintech New York: Partnerships, Platforms and Open Innovationaccenture
We are in the midst of a major disruption in the financial services that will see increasing adoption and evolution of disruptive FinTech solutions. Read our report released at the Fintech Innovation Lab’s Fifth Annual Demo Day Event.
The Innovation Game: Why & How Businesses are Investing in Innovation Centers Capgemini
With tech startups rapidly eating into traditional sectors, large organizations face an increased pressure to innovate. The challenge is that traditional innovation approaches are broken. A recent study revealed that only 5% of R&D staff feel highly motivated to innovate. In certain sectors, more than 85% of new products fail and an overwhelming 90% of companies consider they are too slow in launching new products and services.
The weaknesses of traditional innovation approaches have led some organizations to explore different avenues and seek new inspiration. These organizations have launched innovation centers in major technology hubs with the explicit mandate to accelerate digital innovations. These innovation centers, comprising teams of people and often physical sites, are established in a global tech hub. The goal is to leverage the ecosystem of startups, venture capitalists, accelerators, vendors, and academic institutions that these hubs provide.
We interviewed leaders of innovation centers and conducted an extensive research study of the 200 largest companies in the world to identify best practices and critical success factors.
Global technology hubs are the preferred destinations for setting up innovation centers. 60% of companies that have set up these centers have a presence in the Silicon Valley but many more hubs are emerging – the top 10 cities in our analysis represent only 33% of total innovation centers. The US had the largest share with 31% of total innovation centers closely followed by Europe at 30% & Asia at 22%. Penetration varies significantly between sectors; manufacturing is a clear leader at 58%, but despite facing increasing pressures from digital disruptions, Financial Services lags at only 28%.
Innovation centers offer a range of benefits. They:
• Accelerate the speed of innovation
• Provide a fresh source of ideas
• Enhance risk-taking ability
• Attract talent
• Drive employee engagement
• Build a culture of innovation.
It is extremely challenging to make a success of innovation centers. The long list of critical success factors is a testimony to the size of the challenge. These factors range from clarity on the role of the innovation center to governance for innovation implementation. For example, innovation centers should not peer so far out into the future that it becomes disconnected from current realities. But, it should not confine itself too closely to the parent’s current operations to make breakthrough innovation impossible.
The advent of thriving technology hubs has created an innovation ecosystem that traditional organizations can tap into. By combining the culture and approach of innovation centers with their budget firepower and access to markets and customers, traditional organizations have an excellent opportunity to re-energize their innovation capability.
Exponential banking: Reinventing Financial Services in a world of Exponential...Vincent Teo
A Point of View on the threat of Fintechs and Neobanks in the Financial Services category and what banks should do to respond and continue to unlock business and customer value and drive growth.
Banks should look beyond just embracing the latest Fintech and look to reinvent themselves as the Exponential Bank of the Future.
Insurers are continuing to face marked changes in what customers expect in terms of products and service, how they obtain and utilize the information that informs business decisions, and their underlying business and operating models. Top Insurance Industry Issues in 2016 describes in detail the internal and external changes insurers face and how they can gain a competitive advantage..
APAC's Digital Insurance Transformers: Illuminating the Way ForwardCognizant
Our research shows that insurers throughout the extremely diverse APAC region are placing their bets on digital transformation strategies to enhance customer experience and optimize operations. We take a deep-dive look into the particulars of what is currently happening and what lies ahead for the Asia-Pacific insurance industry's digital evolution.
Going Social How businesses are making the most of social mediaIgnacio Horcajada
Este informe recoge datos sobre la participación de las organizaciones empresariales mundiales en el entorno de las redes sociales. La documentación incluye encuestas a más de 1.800 directivos y 2.000 empleados en las organizaciones de diez mercados principales y analiza la distancia entre las expectativas y la realidad cuando se trata de medios de comunicación social. Se incluyen comparativas de uso de las redes sociales entre los mercados desarrollados y los emergentes, independientemente del grupo sectorial o la estructura de propiedad.
Innovation in Financial Institutions: a World Tour
IB097-Point of View_Wei Ng_v3_web
1. DEAL ADVISORY
There is an exciting new paradigm
for financial institutions and corporate
development strategists. It is
shaped by the acceleration of mega
trends, evidenced by seismic shifts in
technology, social values, demographics
and the environment. Additionally, we
are seeing financial technology (FinTech)
challengers enter the market, eating away
at traditional business models for banks,
insurers and wealth managers. Each of these
factors is impacting the financial services
industry and the real economy it exists to
serve, creating disruption and opportunity.
There are plenty of examples of this: Kenya’s
mobile financial services industry, which
underpins up to 60 percent of the country’s GDP, is
creating a more competitive landscape.1
Then there
is Alibaba in China which is piloting algorithmic credit
scoring as well as telematics car insurance in the UK.
There are also evolving stakeholder expectations.
In the last 12 months, digital innovation has risen to
the top of the corporate agenda. Institutional investors
are expecting transformation in this space and many
are expecting to factor a company’s data and analytics
strategy into its investment decisions and company
valuation2
. Furthermore, governments are looking closely at
responsible financial services, recognizing the opportunity
for financial institutions to promote inclusive and responsible
development in both mature and developing economies.
To respond to such changing dynamics, many financial
institutions are leveraging external partnerships to innovate
more quickly.
INORGANIC
INNOVATIONAVIEW
FROM
August 2015
Wei Ng
High Growth Markets and
Innovation Lead,
Global Financial Services,
KPMG International