Evolving into an Inventive Bank

To succeed within the new Open X environment, banks will strategically evolve into inventive banks that seamlessly collaborate with other players to deliver digital, experience-led offerings to customers.

A planned four-stage process – is a collaboration must-have for banks

Collaboration effectiveness heavily relies on the ability to identify the right partner, work together as a team, and prepare a scalable experience leveraging new technologies. From creating a culture of innovation and intrapreneurship to developing an innovative pilot, banks must follow a structured process across the four stages (Open Innovation, Evaluation, Acculturation, and Industrialization) to ensure they can produce customer-focused Minimal Viable Products (MVP) and scalable offerings.

 

Four stages of bank-FinTech collaboration

World Retail Banking Report 2019

The World Retail Report 2019 from Capgemini and Efma explores how banking customers’ changing needs are increasingly being met by customer-centric newcomers and offers insights into how banks can evolve into inventive banks to remain relevant in the Open X era.

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