Idea Management for the Financial Services Industry
In one of the most highly regulated industries, Wazoku helps financial institutions be innovative and remain competitive.
The financial services sector has changed radically over the past decade and continues to face multiple challenges:
- People and companies view their finances in a completely different way to how they once did
- Technology is forcing legacy institutions to adapt and overhaul their products and services
- Banks are juggling massive compliance, security and legacy platform concerns
- Employees want inclusion, to collaborate and to have the tools and knowledge to keep customers happy
- Accelerators, fintechs and regtechs are here to both collaborate and disrupt
Where do you get the new product ideas, secure spaces for collaboration or ideas for small and continuous initiatives to drive improvement?
This project helped fintech start-ups gain traction, and in doing so helped NGOs come up with new ways to solve global developing world issues. There is a huge need and opportunity for collaboration in this space.
How can the finance services industry innovate with idea management?
Introduce new products to market
Break into new markets and find sources of revenue. Learn how
Collaborate between branches
What’s working well for one branch could be implemented in others across the world. Learn how
Improve speed of delivery for services
Especially the most basic ones – in these days of immediacy, customers find it hard to accept that opening a basic current account can still be a lengthy and bureaucratic process. Learn how
Focus on the customer journey
Put customer needs and wishes to the fore. Learn how
Join forces with accelerators, fintechs, regtechs
Solve problems, be more future-proof, drive new tech enhancements and protect intellectual property. Learn how
Adapt/change legacy systems
Outdated technology can be a huge barrier to innovation. Collect, evaluate and implement ideas for change and optimisation. Learn how
Attract and retain the best talent
Give them as much freedom as possible within a strict regulatory framework. Learn how