Innovation in Fintech: Surprisingly Diverse
I'm at Money2020 October 22-24, interviewing banking and payments technology leaders for an upcoming article, report, webinar, social media blurbs, and more, all based on new original research on how large-scale industry innovation projects are managed. To prepare for a productive time in Las Vegas, I've completed enough preparatory interviews to understand this: you'll be surprised at how materially diverse innovation practices are across the world of fintech. If the results from my early interviews hold consistent, expect to read about surprisingly diverse duration, stages, and certainly outcomes all across the industry. The differences couldn't matter more to competitive edge, given the differences in time-to-market, costs, and ability to help people better manage their money.
One big surprise: how wiling innovation leaders are to talk about the critical metrics of their most vital projects. Sure, in most cases I'm interviewing (or for next week in Las Vegas, scheduling) interviews with leaders who have known me for a long time, yet I had expected some reticence for these folks to meet to bare their soul about how well they are essentially evolving their customer-facing digital capabilities. So in the hyper-competitive fintech world, why would these agents of change be so open? My takeaway: the secret sauce to successful innovation is still so...well...secret, that these hyper-smart leaders have more to gain than lose by sharing their war stories in order toga access to a deep-dive article and report on the aggregated results.
These upcoming blogs, webinars, reports and even presentations on fintech Innovation practices, all coming from the interviews I'm conducting at Money2020 in October, will surprise you. I can't wait to complete the interviews and publish the results, available for download at no cost in November. Stay tuned; I will communicate the availability of the media materials widely once they are available. I think you'll be more than a little bit surprised.