After flying from Nashville to Boston yesterday, I got home, unpacked my suitcase, then repacked it and got in the car and drove 2 1/2 hours to Wolf & Company, P.C.’s Tech Leadership conference to see Jason Henrichs present on why #innovation is dead and #partnerships are done.
A lot of great points, but some of the highlights:
1. FIs need to look at their product development/improvement efforts as a portfolio. Leaders put 70% of their efforts into extending products, 20% into bending, and 10% into transcending. Why? Because the return on those efforts is the reverse (10% on extend, 20% on bend, and 70% on transcend).
2. Partnerships should be for rethinking the business model, not replumbing existing processes. And BTW, vendors are NOT partners.
3. Innovation without strategy is a prescription for failure.
I did have a favorite slide, however: :)
#banking #fintech
Emmett Shipman
President | CEO | Founder | Cybersecurity Professional
11moFantastic work Team Cintel. Congratulations Dale Jobes!