Depending on the context and audience, this word can stir excitement or anxiety.
Regardless of the emotional response, change is, at some point, a must for everyone. While it’s comfortable to lean on familiar processes, entrenched technology solutions, and combinations of disconnected systems; your employees, customers, and competitors will ultimately demand something different. At the risk of sounding dramatic, for the innovative financial services provider, if you’re not adapting, you’re dying.
New process and technology implementations are a question of when, not if. So, how can you prepare to ensure financial innovation begins with the proper foundation? Many of us have experienced a project that goes long and wrong. This isn’t necessarily because of a bad idea or because the innovation was unimportant. These long and wrong projects are often because the foundation for success was stepped over in the excitement to begin. How can you be sure that you’re properly planning for future success? Let’s look at some key perspectives and a few recommendations that will lend towards a win-win-win experience:
Setting the Stage for the Innovative Financial Services Provider
If “adapt or die” is the why behind financial innovations, who are the impacted parties and what are their expectations?
After assessing the expectations and challenges of implementations, how do you prepare to draw these unique wants and needs together to foster a win-win-win scenario?