Many Banks Misunderstand Innovation - Banking Transformed...

What this episode covers

According to MIT, the biggest challenges to the innovation process include a lack of an innovation culture, fear of change, lack of ownership and vision, inadequate benchmarking and even impatience. Unfortunately, there is no magic bullet or secret formula that can guarantee innovation success. But there are ways to make the odds of success greater. And it is not just new technology or a higher level of investment. I am excited to have Steve Monaghan on the Banking Transformed podcast. Steve's experience includes leading the innovation teams at several bank and non-bank organizations, including DBS Bank and Dell. In this episode, Steve discusses why banking innovation lags many other industries and what can be done to change this paradigm. Follow us on YouTube to view the video versions of these interviews: youtube.com/c/BankingTransformedPodcast. This Episode of Banking Transformed is sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices This Episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

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Frequently Asked Questions

How long is this episode of Banking Transformed with Jim Marous?

This episode is 56 minutes long.

When was this Banking Transformed with Jim Marous episode published?

This episode was published on January 31, 2023.

What is this episode about?

According to MIT, the biggest challenges to the innovation process include a lack of an innovation culture, fear of change, lack of ownership and vision, inadequate benchmarking and even impatience. Unfortunately, there is no magic bullet or secret...

Can I download this Banking Transformed with Jim Marous episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.