Comments
Spreading a Culture of Innovation at US Bank
Newest First  |  Oldest First  |  Threaded View
Kelly22
50%
50%
Kelly22,
User Rank: Author
5/21/2014 | 4:48:19 PM
re: Spreading a Culture of Innovation at US Bank
Good point, I could see that being a big risk of an innovation lab. This project avoids that problem by offering the opportunity to all employees, so everyone holds some responsibility for innovation within the company.
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
5/20/2014 | 9:00:49 PM
re: Spreading a Culture of Innovation at US Bank
The big drawback that I could potentially see with having an innovation lab would be that all the other parts of the organization stop any efforts at innovation. They think that innovation is the responsibility of the innovation lab. They've done a good job of ensuring that doesn't play out though. Good foresight on their part and the rest of the payments groups.
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
5/20/2014 | 8:59:06 PM
re: Spreading a Culture of Innovation at US Bank
Yes it sounds like a fun way to take a break from the everyday grind and learning how to think differently about the job. I'd bet a lot of the participants come back to their regular job afterwards with a changed mindset that is more open to new ideas and partnerships within the organization.
KBurger
50%
50%
KBurger,
User Rank: Author
5/19/2014 | 9:08:22 PM
re: Spreading a Culture of Innovation at US Bank
It does seem like Venturo and his team recognized early on what must be one of the risks around these innovation units -- the perception that innovation is only for the "cool kids" and that it's only the "hot shots" that get assigned to these special units and projects. It must be relatively easy to set up an innovation team or lab, but it's much harder to make innovation a way of life for everyone in the organization. It sounds like US Bank has figured out some effective, manageable and motivating ways to make that happen.
Kelly22
50%
50%
Kelly22,
User Rank: Author
5/19/2014 | 7:24:06 PM
re: Spreading a Culture of Innovation at US Bank
These competitions seem like an ideal way to foster collaboration and innovation within US Bank. While the organization certainly benefits from a bunch of new ideas, I also think that the opportunity to be creative, develop new projects, and engage with workers in other departments would prove appealing and exciting for US Bank employees. The "Pitch Factory" seems like the bank's version of the hackathons that often happen in tech and another fun way for employees to develop their innovative ideas.


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.