To grow market share and profitability, banks and credit unions need to dedicate financial and human resources to the innovation process. Rather than simply taking iterative steps, organizations need to disrupt the status quo both in the back-office and in the external delivery of financial services. The winners in the future will be defined by those organizations that can leverage digital technologies to deliver a customer experience that goes beyond the ordinary.
As part of the development of the Innovation in Retail Banking 2017 report, sponsored by Efma and Infosys, we conducted an exclusive interview of two of the foremost innovation leaders in the banking Industry. Dominic Venturo, EVP and Chief Innovation Officer of U.S. Bank and José M. ‘Seppe’ Villa, head of Open Innovation at BBVA in Spain shared their formulas for innovation success.
As the Chief Innovation Officer of U.S. Bank, Dominic Venturo leads the innovation process at one of the most progressive financial institutions in the U.S. The innovation group at U.S. Bank started more than a decade ago as part of the retail payments group and is now a 30-person team.continue reading »