Leadership Lessons from the Banking Upheaval

Great Leadership By Dan

Guest post from Jean-Marc Laouchez , Hay Group: “Banking is no longer somewhere that you go, it’s something that you do.” - Brett King, Banking 3.0. When was the last time you visited a bank branch? In Africa, some telecoms providers have bypassed traditional banks completely.

Is Innovation manageable?

N2Growth Blog

In the years leading up to 2018, I have spent my time bringing innovation to the financial services space. As such it is all about innovation. And now, from a distance, my optimism regarding the sector’s ability to innovate and capture opportunities has not changed.

Dinosaurs, Big Consulting Firms and Disruptive Innovation

N2Growth Blog

Thanks to Professor Clayton Christensen of Harvard University and his 1997 landmark book, The Innovator’s Dilemma , we have a new way of understanding the life cycle of companies and why some market leaders maintain their dominant position and other one-time market leaders disappear.

Thinking Differently. Enabling Innovation

Mike Cardus

Competitive demands require quicker, more effective and innovative problem solving. Hire Mike of Create-Learning to Think Differently & Enable Innovation within your company and team. Thinking Differently – Enabling Innovation from Michael Cardus.

N2Growth Helps Businesses Combine Strategy & Innovation for a Consumer-First Approach to Digital Transformation

N2Growth Blog

To stay competitive, brands must innovate and transform. Balance is the key to success; N2Growth , believes that innovation and strategy must come together for businesses to enjoy sustainable growth and maintain customer satisfaction.

Innovative Leaders Aren’t Scared of Customers

LDRLB

I recently had the opportunity to meet with a major bank. But look and the most innovative leaders and companies and you’ll see that they continually engage customers to help them reinvent their offerings and their organizations.

New Study IDs Best Companies for Leadership?, Innovation

Great Leadership By Dan

I don't remember seeing innovation highlighted in previous results - were those new questions? Susan : Yes, there was a new set of questions added this year around the theme of innovation, based on what we're hearing and seeing about it's importance.

Innovative Leaders Aren’t Scared of Customers

LDRLB

I recently had the opportunity to meet with a major bank. We can’t talk to our customers”, my bank clients replied, “their relationships are way too important to us.” But they also created a “lab” where they brought in real live customers to test-drive new online banking products.

Innovating The Brick-and-Mortar Injustice Infrastructure

Mills Scofield

This week''s post is by Andy Posner , Co-Founder & Executive Director of Capital Good Fund ( CGF ), a non-profit microfinance organization targeting the root causes of poverty through innovative micro-loans and personal financial coaching.

Innovative Leaders Aren’t Scared of Customers

LDRLB

I recently had the opportunity to meet with a major bank. We can’t talk to our customers”, my bank clients replied, “their relationships are way too important to us.” Much to my surprise, I gleaned from the tone of their reply a very basic fact; this major bank is scared of its customers. In contrast, the most innovative leaders and companies continually engage customers to help them reinvent their offerings and their organizations.

Leadership & Innovation do we really learn?

Rapid BI

Hot in the world news at the moment is the need for India to have a more structured financial system, for more of its population to have bank accounts, and yet only a small [.]. Business banks bench marking Innovation tradition Growth and development are critical for all parts of the world. Developing infrastructure is a key solution for long term sustainability and growth.

An Inspiring View from the C-Suite with Wayne Bossert, Royal Bank of Canada

Roundtable Talk

Th is week, our members had the wonderful opportunity to sit down with Wayne Bossert, EVP Sales, RBC Canadian Banking and President & CEO, Royal Mutual Funds Inc., Champion diversity… the world is changing rapidly and diversity of backgrounds as well as thinking will allow today’s companies to stay innovative and respond to the changing needs of a global client base.

Trust

Lead on Purpose

He discusses the concept of building a trust account, which is similar to a bank account.

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As Cryptocurrencies Rise, Who Needs Banks?

Harvard Business Review

This confusion originates in the fact that for older forms of money — gold or bank notes — there is no distinction between the “what” and the “how”; you simply pay by handing dollar bills or gold coins to the seller. We’ve already seen this sort of change in the developing world, where not everyone has access to a bank account. This made traditional banks in the U.S. filo/Getty Images.

Josh Lerner: An interview by Bob Morris

First Friday Book Synopsis

Schiff Professor of Investment Banking at Harvard Business School, with a joint appointment in the Finance and the Entrepreneurial Management Units. Bob's blog entries Albert Einstein Boulevard of Broken Dreams Brilliant Mistakes Brooke Manville Brookings Institution Google Harvard Business School Harvard' University’s Economics Department Innovation and Its Discontents James O'Toole Josh Lerner: An interview by Bob Morris Jacob H. Josh Lerner is the Jacob H.

How Capitec Became South Africa’s Biggest Bank

Harvard Business Review

The consumer banking industry is notoriously difficult to enter, not least because most customers rarely switch banks. In some countries, people change spouses more often than they change banks. It has now become the largest bank in the country. ShutterWorx/Getty Images.

How the Great Recession Changed Banking

Harvard Business Review

Just over 10 years ago, French bank BNP Paribas froze U.S. There was a run on British bank Northern Rock. Over the next year, many banks fell. Investment bank Bear Stearns collapsed. The recession transformed investment banks and created a deep divide between banks that quickly remodeled their business and those that failed to move rapidly. We expect investment banks to embark on an even more fundamental makeover during the next decade.

Banks’ New Competitors: Starbucks, Google, and Alibaba

Harvard Business Review

This represents a major challenge to the banking sector where, in developed markets, growth and profitability are still at about half of pre-crisis levels. As banks recover from the downturn, non-banks are taking advantage by proceeding aggressively with digital innovations and capturing more and more of the banking value chain. Accenture estimates that competition from non-banks could erode one-third of traditional bank revenues by 2020.

William Miller on Business Model Innovation

Rajesh Setty

I have known Dr. William Miller (co-founder of Value Centered Innovation ) for a number of years and every conversation with him on business model innovation and beyond has been delightful and insightful. Dell Computers changed the way the personal computer industry operated using a business model driven by Process innovations in manufacturing and inventory, offering customized computers assembled according to a customer’s own specifications. •

Five Ways to Fail at Design

First Friday Book Synopsis

Bob's blog entries Apple Bloomberg Businessweek Design outside of your innovation space Five Ways to Fail at Design Harvard Business Review blog HBR email alerts OXO Refuse to change any other part of your business Sohrab Vossoughi Try to design for everybody Umpqua Bank Virgin Atlantic and Netflix World Economic Forum Ziba DesignHere is an excerpt from an article written by Sohrab Vossoughi for the Harvard Business Review blog.

Is Your Business Biased Against Innovation?

Strategy Driven

Many people do not typically think of metrics and accounting as roadblocks to innovation, yet you call these out as potential problem areas. Doing otherwise biases the business against innovation because what you are projecting may look unattractive relative to your business today. I’m thinking of HDFC Bank in India, Yahoo! Companies that will eventually be wrecked by others’ innovations are operating on autopilot.

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INTERVIEW: Helena Gottschling, CHRO at RBC, On Creating Business Impact with People Analytics

HR Digest

Developing Tomorrow’s Leaders, Today The purpose of people analytics, according to Helena Gottschling, CHRO at Royal Bank of Canada, is to enlighten and balance talent conversations. The HR Digest: People analytics has a strong place on the strategic agenda of the Royal Bank of Canada. The HR Digest: Royal Bank of Canada has been recognized as one of Canada's Top 100 Employers (2019) and Greater Toronto's Top Employers (2019). PHOTOS: ROYAL BANK OF CANADA.

Developing Countries Are Revolutionizing Mobile Banking

Harvard Business Review

But this isn't the first big innovation in mobile banking. These innovations are already happening in developing countries. That revolution, in turn, is causing India to leapfrog brick-and-mortar banking to wireless banking for the masses. Counterintuitive as it may seem, poor countries may be ahead of rich countries in mobile banking. India has a large un-banked population because of the challenge of reach and affordability. B2B Mobile Banking.

How Banks Can Compete Against an Army of Fintech Startups

Harvard Business Review

It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. To the extent that banks have digitized, they have focused on the most routine customer transactions, like online access to bank accounts and remote deposits. banks. Eastern Bank).

How to Deal with Unreasonable Contrarians

Leadership Freak

A river without banks drifts calmly into oblivion. This applies to… Continue reading → Courage Innovation Taking others higher Teams Communication courageous leaders Leadership Constraint makes the river powerful. Tell teams what they can’t do and where they can’t go and they’ll get further, faster.

What Africa’s Banking Industry Needs to Do to Survive

Harvard Business Review

Across Africa, banking is being redesigned. While the banks compete among themselves, they face existential threats from amalgam of entities, not necessarily possessing bank licenses. companies and bank accounts while living outside U.S., Elevate digital banking.

Fintech Companies Could Give Billions of People More Banking Options

Harvard Business Review

Much has been made of the fact that a new breed of financial technology (or fintech) companies is unbundling banks in the developed world. Startups are attacking all of the components of the traditional bank value proposition (e.g., While their innovative products have been a boon to consumers in mature economies, the resulting efficiency and security benefits have largely bypassed the 2 billion consumers in the developing world who lack formal banking services altogether.

What If Banks Were the Main Protectors of Customers’ Private Data?

Harvard Business Review

Perhaps the best-suited institutions to manage digital data are banks. In a sense, banks are already data guardians. Moreover, banks have experience in safeguarding privacy through their commitment to confidentiality. Of course, banks are far from perfect.

The Blockchain Will Do to Banks and Law Firms What the Internet Did to Media

Harvard Business Review

We’re often seeing so-called blockchains that are not really innovative, but instead are merely databases, which have existed for decades, calling themselves blockchains to jump on the buzzword bandwagon. However, it is likely that, just as Linux is now embedded in almost every kind of commercial application or service, many of the ultimate use cases of the blockchain could become standard fare for established players like large companies, governments, and central banks.

Leadership Comes in Many Forms. Helping Business Save the Earth.

Great Leadership By Dan

Innovating O ur Way to Sustainability , we assert that to address these challenges requires substantial, disruptive innovation across a wide number of sectors. Such innovation cannot and will not happen without the active involvement of the business community. Innovation is more than invention. Markets are where the value of innovations are articulated. Innovation requires creating value that exceeds the cost of production.

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What Leaders Can Learn From the Rules of Combat

Lead Change Blog

is the retired chairman and CEO of Bank of America. Wall Street analysts characterized him as a no-holds barred tactical genius that lead the bank as its thirty-nine year old president with [.] His newest book is The 9 1/2 Principles of Innovative Service. Hugh L. McColl, Jr. An ex-marine officer in the late fifties, his business leadership style was and continues to be swashbuckling, colorful, and intense.

Trying not to Lose is Different than Trying to Win

Great Leadership By Dan

Growth and innovation are not only possible but necessary during dark times. He is a founding member of the Bank Whistleblowers United, and holds a Ph.D. change innovation Michael G. Guest post from Michael G.

How Banks Should Finance the Social Sector

Harvard Business Review

Most traditional financial intermediaries, like banks, are focused on short-term returns and deem unsecured lending to charities and social enterprises to be too risky. If financing is offered by a bank, the terms are often too onerous. Banks have a role to play in the social sector.

Leading Views: Intuition is about Listening

Leading Blog

Ray Davis, CEO of Umpqua Bank, writes in Leading Through Uncertainty , that following your intuition is important at any time, but especially so in uncertain conditions. Creativity & Innovation

The Irish Banking Crisis: A Parable

Harvard Business Review

Umair Haque Blogs Umair Haque On: Global business , Competition , Economy The Irish Banking Crisis: A Parable 4:33 PM Monday November 29, 2010 | Comments () Email Tweet This Post to Facebook Share on LinkedIn Print Once upon a time, there was a country where bankers disappeared. — and you might begin to see how economists conceive of banking shutdowns. The country in question was Ireland — today, in deep crisis because of profligate banks.

Rethinking the Bank Branch in a Digital World

Harvard Business Review

More US bank branches closed in 2013 than ever before. More than 85% of retail banking transactions are now digital. The bank branch is “going south,” mobile-banking entrepreneur Brett King said to CNBC. So are we witnessing the death throes of brick-and-mortar retail banking? Will banking soon be like the business of selling recorded music—almost all done online? Banking isn’t like selling records or music CDs.

Mobile Phones Promise to Bring Banking to the World’s Poorest

Harvard Business Review

For populations living so far off the economic grid that traditional banks have never considered them as a source of new business, the availability of mobile technology is lifting the bane of cash dependency and opening a door to the mainstream of the global economy. laura schneider FOR HBR.

The Global Banking Leaders of the Future

Harvard Business Review

The global banking industry faces two opposing truths. On the other, the crisis in the euro zone has forced banks to rethink their investments in numerous markets, if not retreat from them altogether. The result is a chasm of opportunity — a vacuum ready to be filled by banks from both the emerging and developed worlds. While European banks were among the first to move into emerging markets, the euro zone crisis has led many to recoil or switch course.

How a Turkish Bank Became the Employer of Choice

Harvard Business Review

Our experience at Garanti Bank shows how even in seemingly the worst of circumstances, companies can become the most attractive of employers. In 2001, Turkey experienced a financial crisis in its banking sector. Group merged its three banks (Körfez, Osmanl?, By 2007, the financial crisis was long over, but a negative perception about the Turkish banking sector lingered in the minds of the university students we most wished to bring on board.

0609 | Dorie Clark

LDRLB

Clark is a marketing strategy consultant and speaker for clients including Google, Microsoft, Yale University, Fidelity, and the World Bank. Leadership Podcast burkus clark innovation leadership strategyDorie Clark is the author of Reinventing You and Stand Out.

Using Games to Get a Handle on Bank Risk

Harvard Business Review

Bank marketing materials focus on the dreams, anxieties and goals of consumers. Most audits and regulations of banks are focused on certifying the integrity of data and controls. The truly critical issue, though, is the integrity of banks' assumptions about consumer behavior. A better understanding of the drivers of behavior is needed for both banks and consumers to understand risk, and for the financial system to provide timely and targeted interventions.

Quotes And Leadership Lessons From Tomb Raider

Joseph Lalonde

From the possibility of the bank foreclosing on your business to firing an employee to doing the ethical thing (when others are pressuring you to make an unethical choice), you’re going to be hit and hurt. As Lara the fox was being pursued, she saw an opportunity to be innovative.

UBS Systems Failed the "Too Big to Fail" Bank

Harvard Business Review

But their shame pales into invisibility compared to the humiliation inflicted on Switzerland's biggest bank. UBS's failure merits particular disgrace because the bank's board commissioned public review after public review of its risk management systems in the wake of roughly $40 billion in 2007 losses and a Swiss government bailout. The bank did not lack risk-consciousness; it lacked healthy mistrust, independent judgement and strength of leadership.".