the club innovation banque finance assurance and the fidji project 2 nd innovation for financial...
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The Club Innovation Banque Finance Assurance and the FiDJI
Project2nd Innovation For Financial Services SummitJean-Luc STRAUSS
Financial Services Innovation Practice Manager/Secretary of the Club
http://innovation-finance.altran.fr
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
Banks & Insurance companies are ripe for a new era of innovations towards large public customers, are they ?
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No patent -> no ROI Intangible products -> easy to copy Compliance to regulations eats all money
BUT new territories for innovations No academic support -> no process Wall Street bank attitude vs Main street Marketers too comfortable with clients Push products vs satisfy needs
Customers’ low level of trust since the crisis
Banks & Insurance companies reluctance or present ability to engage in innovation
New generations have different behaviors and expectations
Burden of sustained pace of new regulations
Thanks to new regulations, new entrants are increasing the level of competition
Social role still pro-eminent even though hidden to majority of people
Extensive coverage of population
Width of the products & services catalog
Permanent technological adaptation to distribute through any new channels
Customers want a better life: Y/Millenium Generations, longer life, protection against new risks (diseases, environment, nano-tech, biotech…)
under-banked or under-insured population
Advanced technology -> new customizable offers
Strong demand for CSR
STR
EN
GTH
S
WEA
KN
ESSES
OPPO
RTU
NIT
IES
TH
REATS
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
What to do ?
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INNOVATE FOR THE REAL BENEFIT OF CUSTOMERS…
Since ATM & Credit card, any genuine innovations? › Web banking? … Finally yes› Mobile payment? … When ??
Reconnect with the people
WHERE TO ?
Limitations of marketing tools -> Deeper into customers’ behaviors
Be at Customers’ service
HOW ?
Human centered methodologies -> Design Thinking Advanced analytical technologies -> Predict new demands Etc…
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Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
Altran & the Club
Mid-2008, Altran = global leader in Innovation mainly in Industry >> Innovation Practice in Financial Services: France + Spain.
March 2009: Club Innovation Banque Finance Assurance › Directors of Innovation of BNP Paribas Retail World, Groupe
Société Générale, Crédit Agricole SA, BPCE, La Banque Postale, GE Capital, Groupe Axa, CNP Insurance, Generali France, Groupe Groupama, Humanis, Macsf
› Academics from Essec-Isis, Un. Paris-Ouest, IDRAC Group› Paris-based Innovation Cluster « Finance-Innovation »› Membership is free though the projects need fundings
A reference center in France? In Europe…? Ambitions…!!
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Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
What is special about the Club which makes it successful?
Same vision : Innovation is necessary › To raise again the trust› By focusing on deep customers relationships & insights
Competitors work in co-opetition on innovative ideas
2010: FiDJI project = usefulness of Design Thinking for Marketing
BNNP, SocGen, CASA, Generali, Groupama, Altran, BETC Design, Un. Paris-Ouest, Parsons school
2012: Fidji >> FAIR = FiDJI + criteria for generating responsible innovations
Other working groups: › OpenBank, › Managing the longer life› White paper : innovation in French banks & insurance companies
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
Usually, Design is apprehended as … Style Design
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But, in Finance, we design immaterial products & services… for sometimes complex concepts: credit, payment, CDO, CDS, LoC,…
which need to be attractive, somehow stylish…
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
Here comes Design Thinking
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multi-displinary team: customers, salespeople, marketers, anthropologists, designers, specialists…
Observe & collect the experiences: human side of the customer (true-life, experience, behavior, sociology, feelings…)
Shake-up via co-creativity & co-design
Materialise the innovative idea
Coined by Tim Brown from IDEA
Major innovation method in Industry
Not yet in Finance
the design ladder
>>>>> Human Centered Design >>>>>
THE INDUCTIVE WAY
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
TOMORROW…..
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Designers & Anthropologists in the Marketing & Design teams
An integrated co-creation & open innovation daily praxis
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
Fidji’s Development
Club Innovation Banque Finance Assurance2nd Innovation for Financial Services Summit
21st of septembre 2012
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Fidji : the video presentations
The making-off
The Proof-of-Concept
KEEP UPDATED (IN FRENCH)
http://www.altran.fr/innovationhttp://innovation-finance.altran.fr