Are you in banking, financial services, in technology, in fintech?
What motivates your work, your efforts?
Whether you are working in operations, marketing, sales, service, or technology, or somewhere in between, this is a fascinating time to be in financial services.
As our own industry pulls out of this great recession, something feels, well, different.
Behavior is changing, and innovation is the key to survival. Disruption is accelerating the need for efficiency and agility to meet these changing demands.
How do you follow the disruption impacting your institution? How are you adapting, innovating?
Where is your inspiration?
For me, I am focused on connecting with the people who are the inspirations of innovations and learning from their process, the way they think.
What do I mean?
This week was a great example of getting the most out of conversation and chance.
I had the opportunity to attend the two-day Bank Innovation conference in San Francisco, and was able to spend time with long-time Twitter friends like Matt West from MoneyDesktop and Billy Robbins from Wells Fargo.
These guys have great insights around the online channel and PFM. And through them both, I have met some really interesting folks in fintech because, like me, they are connectors.
Talking with these two and new contacts from BB&T, Suntrust, Wells Fargo, and others in fintech, I really like where PFM, mobile, rewards, and payments are headed…but I’m still pretty convinced that the majority of banking institutions won’t be around in 10 years.
There is simply too much disruption taking place, and only the largest institutions, the most nimble and forward thinking financial innovators will survive.
And that keeps me motivated.
You can see the numbers and my thoughts in my recent presentation on 10 Key Trends from the Community Banking Trenches with Backbase.
During the conference, I also got to spend some time talking shop with Joshua Reich of Simple. Their app and approach to data looks really great, and it’s very exciting to hear tidbits about their launch. I’ll try to write (or find) some more words about the panel Josh was on with Wells Fargo, and the battle of a discussion around social banking (their sparring was fun to watch).
But this post is about a different type of innovation.
After the second day of the conference, I had the great fortune of finally meeting Peter Vander Auwera from SWIFT. Peter is Innovation Leader at SWIFT and Innotribe, and is a TEDx speaker and REXpedition member. SWIFT, and their community also drive Sibos, which brings together influential leaders from financial institutions, market infrastructures, multinational corporations and technology partners to do business and shape the future of the financial industry.
This organization is a change agent that not only is highly engaged in the future of financial services, their taking a huge part in shaping it.
If SWIFT, Innotribe, Sibos, mean nothing to you, and you think Finovate is the only must-see conference in fintech, I encourage you to view some of the content below and engage with Innotribe.
Peter and I talked about the future of financial services, the process of stepping off the diving board into the great unknown, his recent post on corporate rebels and my call for organizations to embrace their pirates.
We also talked at great length about how SWIFT approaches innovation through Innotribe. I’ll have to write about this more, but I’ll say that just about every organization can learn from the model.
I wish I had a great deal more time to spend with Peter. I look forward to meeting more of his team, and sharing views about how financial services is changing, how the utility of the banking model is changing.
After not much more than an hour with Peter, I feel that some of my perceptions around corporate transformation through innovation had fundamentally changed.
And that’s how innovation can change an organization. It’s like a spark that ignites in one person and grows like a wildfire.
And that’s a little bit like the point of Innotribe.
This post just scratches the surface of some of my thoughts on the influences from my conversations this week, but I wanted to put aside some thoughts on the week to spur some future posts.
In the past year, I have had the fortune of sitting down with Brett King, Scott Bale, and some other great minds in financial services.
And now within a week I get to pick the brain of people like Josh Reich and Peter Vander Auwera.
If I sound a little star struck, that’s the point.
Because of something as simple as connections I’ve made through Twitter, I’ve been fortunate to meet people who’s content really influence the way i am thinking about key topics like innovation and technology. These are conversations that we should all be having.
No matter what your industry, no matter who you are. Find, and talk to your sources of inspiration. And then share what inspires you with your community.
Gain value. Share. Add value. Repeat.
It’s time to connect, and start to shake up your thinking a bit.
What are your influences?
What do you think/know of Innotribe?
Were you in SF this week? What did you think of Bank Innovation?
Read more of Peter’s ideas about change and innovation. Hopefully some of his thinking will inspire you and the way you influence your organization.
Learn more about Innotribe
Learn more about SWIFT
Learn more about Innotribe Startup Challenge – 2012
If you are interested in innovation, financial services, and everything in between, I encourage you to connect with heathervescent (thank you for connecting Peter and I during his trip to SF this week) and @petervan.