PowerPoint - Fikkert Open Innovation in the Financial Services Sector

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PowerPoint - Fikkert Open Innovation In the Financial Services Sector
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  www.themegallery.com Presented by Maggie Fikkert Open Innovation In the Financial Services Sector   by Innovation in a Box (Pty) Ltd  www.themegallery.com Implications of Collaboration  Charles Darwin noted “In the long history of humankind (and animalkind, too) those who learned to collaborate and improvise most effectively have prevailed”  “Era of open innovation” is to seek knowledge iteratively from various sources, such as suppliers, customers, universities, research laboratories, consortia, consultants, start-ups, new business units and competitors   by Innovation in a Box (Pty) Ltd  www.themegallery.com Financial Services  Service-driven, knowledge-intensive Economy affected by Information and Communication Technology  Changing nature of demand  Knowledge sits beyond organisational boundaries  Business models – blend of Openness, flexibility, focus on core business, customer in centre  [Growth, profitability] and risk management  Leverage Innovation for growth ã Value Innovation   by Innovation in a Box (Pty) Ltd  www.themegallery.com Financial Services   by Innovation in a Box (Pty) Ltd Financial Services (FS) typically enjoy little or no Intellectual Property protection. ã Merrill Lynch “Sweeping” innovation was rapidly copied ã Frequent people moves between Financial Services firms ã More solution integration (customers) ã Impossible to meet ALL customer needs – have to open up FS has to embrace both “outside-in” and “inside-out” component of open innovation model. Open up architectures in view of adding value and superior performance for customers.
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