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11min chapter
Rethinking Innovation During Unparalleled Change
Banking Transformed with Jim Marous
Navigating Challenges and Cultivating a Culture of Innovation in Financial Institutions
This chapter explores the obstacles faced by organizations dedicated to innovation, emphasizing the need for a supportive culture that embraces testing, learning, and risk-taking. It discusses the shift in mindset from risk avoidance to risk management in the financial sector, using examples like a bank in Poland offering credit to all customers with mobile phones. The chapter also touches on the future of banking, focusing on addressing customer pain points and fostering a culture of innovation through partnerships with FinTechs and educating employees about emerging technologies.
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