Of Legacy and Change in the New Banking Ecosystem

Market Roadmap Banking

As many other markets, banking and retail banking in particular is being challenged by disruptive newcomers developing competing services on mobile, for instance, or via the Internet in general. As many other markets, the trends in opinions and visions tend to be two-folded. The first is the voice of the legacy, who claims the customer loyalty to banks expertise, security, financial assets and scalable market impact, new services from their brand onto new platforms and devices. The second is the voice of change, claiming disruptive cost and time saving ideas, reaching to niche growing markets, creating new usage. While these two voices compete and cooperate to create a new ecosystem for banking services, players are being asked to take a stance. WAI has investigated who intends to do what in the banking2.0 area, right at the interlock of change and legacy.

 

The rise of mobile payments

Legacy and Change Mobile Payments

Legacy and Change Mobile Payments

From a statistical point of view, change is undeniable. As Rebecca Merrett from CIO explains, “Worldwide mobile payments are projected to grow by 60.8 per cent to 47 billion transactions through to 2015, up from 29.2 billion in 2013, according to Capgemini’s World Payments Report 2014”, with a clear call for banks to change their business model to adapt. Because the growth is rapid and uncertainties remain around business models despite actions taken even on regulatory side, the disruption is such that even Capgemini admits “analysts may over- or under-estimate transaction volumes”. Darel Rigby from HBR argues that retail banking remains a key asset for banks, “The conclusion? Physical banking is evolving rapidly but not disappearing. Branches may be fewer in number, but they will be more useful and efficient, and banks without branches are likely to find themselves at a competitive disadvantage.” In Australia, the situation seems to look different as Rebecca Merrett explains in another article for CIO: “During 2012-13, bank, credit union and building society branches dropped by 130, which means there is one branch for every 3,558 Australians. IBISWorld expects this decline to continue to one branch for every 3,847 Australians by 2019-20.” As Rohan Pierce from ComputerWorld reminds, in Australia “”Consumers are ‘going mobile’ and they are clearly showing their preference for the convenience and simplicity of transacting on mobile anywhere, anytime and on any device. We expect this trend will only continue,” yet the survey found out most mobile banking users would trust services from banks (44%), compared to 14% for technology providers and 10% for retailers.

 

Kings and Challengers

Legacy and Change Kings and Challengers

Legacy and Change Kings and Challengers

As Chris O’Brien from VentureBeat explains, “As mobile payments gain in popularity, Europe remains the leading region for adopting such transactions, according to a new study released today”. According to the report, released this month by Adyen, an Amsterdam based payment technology company, mobile devices account for 23.3% of all mobile payments on the last period before Apple Pay launch. Europe represents 24% of all mobile payments. On his side, Joe Curtis reminds that both in Europe and in the US “A total 35% of banks find it difficult to manage data requirements and aggregate data, found a SAS-sponsored study of more than 100 senior banking officials”. Further in the article, he explains how despite adding new resources, banks struggle to develop the right skills for stress testing framework. The gap also shows in the fact that 41% of European and US companies consider analytics as a compliance tool with 44% of them not involving top management in decisions. The impact on innovation is significant. The gap with challengers is looming even closer. And here they are. As David Bannister puts it in his article for Banking Technology, “China could become the largest market for non-cash transactions within just five years. Soaring growth rates in non-cash payments in key markets are putting pressure on global payment services providers to innovate to meet rapidly increasing consumer demand. Overall, WPR found that more than 50 per cent of global non-cash payment growth came from developing countries despite them making up only 25.5 per cent of the market size at 93 billion transactions.” As the writer explains further in the article, “This trend is adding to the pressure on providers to modernise their payments processing infrastructures to support the wide range of customer-facing innovations.” Jonathan Camhi from Bank Systems & Technology agrees, “P2P mobile payments in emerging markets and consumer-to-business payments in developed are the biggest factors driving that growth, the report said. “Individuals’ lives are being disrupted by technological innovation in mobile, social media, the cloud, etc. Payments need to be embedded into the lives of digital consumers conveniently, and mobile offers a way to do that. Everyone now has a mobile device in their hands“.

 

Driving change

Legacy and Change Driving Change

Legacy and Change Driving Change

What to do? Of course, many players have already started change. And they are right. As Jim Marous from The Financial Brand mentions, “To assist the digital consumer along the purchase journey, most financial institutions need a much better 360-degree view of their customers and members”. He argues that many companies lack systems and infrastructure that enable them to focus on consumers in the new purchasing journey. They therefore lack the understanding of the value they can bring to their customers, hence a need to deploy CRM and analytics tools to turn data into business opportunities. As the author concludes, “The key is to harness as much data as is needed, conduct appropriate analysis on the data, and apply learnings in the marketplace as quickly as possible. As opposed to extensive data reports, the key to success will be quick applications of data in marketing initiatives across multiple channels during the consumer purchase journey.” Robert McGarvey from Credit Union Times explains for his part how “Mobile payments need three to agree to play: financial services companies, consumers and merchants. So far, merchants have dragged their feet because accepting mobile payments involves costly terminal upgrades, some experts have suggested. Since consumers have not been banging on cash registers demanding merchants accept mobile payments, many retailers have simply deferred decision making.” Further in his analysis, a credit union professional reminds ““Nobody is leading the mobile point of sale pack,” said Jean Maisonneuve, e-commerce vice president at the $2.2 billion Affinity Federal Credit Union in Basking Ridge, N.J., But, he added, “you cannot sit on the sidelines and wait for something to happen.” James Eyers points at the technological change that occurs in mobile payment market and states that “These seismic shifts being brought about by technology are forcing all banks to elevate payments issues to board level and transform information technology systems in order to maintain customers, who are increasingly expecting slicker experiences in the digital domain”. He explains how customer is now driving innovation and the “need for transformation at the back end”. JP Nichols argues “No one will cite “lack of innovation” or “lack of technology” as a reason for selling their bank, but as they fail to meet consumers’ (and businesses’) rising expectations, their stagnant growth will lead to more sales to more capable hands.” As much as he is convinced banks will adapt to the new payment era, he believes many have already taken the right direction, those seeking to “instigate change in financial services tend to know one another, and it’s a group I always enjoy being around”.

 

Banks: “a new definition”

Legacy and Change New Definition

Legacy and Change New Definition

It is indeed a good time to investigate change for financial services and retail banking. Kristin R Moyer from Gartner explains how “Digital firms that have become involved in banking are innovating at a rapid pace. This pressure provides banking CIOs to acquire talent from nonbanks and gain approval for more aggressive architecture, core banking, branch and other transformations.” Ariel Bogle analyses the impact of this disruption in the purchase habits of consumers, and quotes Eric Johnson, professor of business at Columbia University “The more you disconnect spending from physical spending, also known as ‘decoupling,’ the more you’re likely to spend”. With the propagating spending new habits, will also come strategic disruption replication on other markets, affecting actors in a similar fast changing competitive landscape. Sam Stewart from Blue Notes ANZ mentions the insurance market, and concludes “While the technology-led revolution insurance is just beginning, experience in other industries shows it can be difficult to predict the pace of change in the business landscape. Insurers also need to be mindful that there is a finite number of relevant potential partners for the new ecosystems that will shape the future of their industry.” A very nice advice banks have already started to follow.

 

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From the experts: Transformative Innovation

From the Experts

InnoTrends is an innovation trends analysis for each innovation segment. Today we look at how Innovation Experts develop a “transformative innovation” concept.

 

 

Learning

Tranformative Innovation Learning

Tranformative Innovation Learning

To Manage for Disruption: “The new age of disruption requires a big data mindset, where we’re not trying to be right, but to become less wrong over time by collecting and analyzing real world information in real time and adjusting accordingly.” From the way we analyse markets to the way we respond to them, Big Data is changing approaches, tools, therefore we need the cultures to drive and skills to analyse data. In his article for Innovation Excellence, Greg Satell reminds the importance of building ecosystems to collaborate with external creativity and skills, with the use of APIs for example, as well as the importance of internal network to foster ideas.

To Transform for long term: “Successfully building a strong culture of continuous innovation also represents a huge opportunity for an organization to attract the best talent, to lower costs, to continuously add new revenue streams, and to better achieve competitive separation.” Braden Kelley from Innovation Excellence is deeply attached to growing organisation that strive for innovation, and explains in this article how to engage a global organisation into building change. From senior management to processes, the key word is: “Change needs to be managed”.

To Think differently: “Solving a problem requires three actions: (a) we perceive data or information, (b) we bring forward relevant knowledge from our long-term memory into our short-term memory, and (c) we draw inferences about what is going on in order to choose an action or to seek additional data. Since we draw inferences only from what is in our short-term memory, our ability to solve problems is limited by our capacity to hold information there.” Jorge Barba tells us on Game Changer what are the key cognitive limits we need to overcome to think differently. It starts with identifying value in different thinking models and leads to thinking more creatively, beyond our short-term memory limits.

 

Developing

Transformative Innovation Developing

Transformative Innovation Developing

Being Self Reflective: According to Bruce Nussbaum from FastCompany, being self reflective helps to find the space and time needed to integrate knowledge, which we lack in our hyper-connected world. He advises that we become “walkers” like Steve Jobs, being mindful of the roots of our knowledge, understanding historical context and relationships to become more creative. “Knowing and being able to explain it, with wise and fresh eyes”.

Knowledge workers: “‘Knowledge’ jobs will be the most difficult positions to fill and the most in demand. Currently, it’s estimated that these are growing at a rate two and a half times faster than transactional jobs, which demand fewer conceptual duties.”  Kerry Butters, from Elcom Blog, explains how companies that foster knowledge will eventually win over others.

Vertically and Laterally: In order to better communicate to your audiences, “It is important to understand what they are thinking about, what their considerations are, and why. Good ideas can be derailed simply because they weren’t compellingly communicated. How do you translate the value of an idea, product, or service as it moves up the organizational hierarchy?” In following article, Innovation Coach explains how being concise, selling our ideas and not ourselves not being afraid to speak plainly even to CEOs.

 

Sharing

Transformative Innovation Sharing

Transformative Innovation Sharing

Story Telling:Connect with the person not the job title – talk about real human emotions”, says Caroline Florence on ExploreB2B. She explains how understanding tensions of conflicts in any situation, using metaphors and analogies to reiterate ideas, taking risk up to appear vulnerable helps to connect to others and develop sharing stories with humans rather than managers.

Open Innovation: “even though some creative consumers might initially signify a black hole for future revenue because they breach copyright and intellectual property, they also represent a gold mine of ideas and business opportunities.” Ian McCarthy from It Depends takes us through the imperative investments in customer engagement and participation to develop products, even though they may be a complex strategic asset to manage. Including loyal and creative customers in the value-chain benefits on the long term and concentrates effort on satisfying overall customer satisfaction.

Crowd Sourcing: “Crowdsourcing mapping data has become standard practice, and something companies — including Apple — do to come up with real-time traffic data”. According to MapCite, Apple is to call on business customers to provide updated information for their new map service, Apple Maps Connect. It is secured by a map code and PIN code linked to business mobile phone number. The writer reminds that Apple already sources map information from partners such as TomTom or Digital Globe.

 

Teaching

Transformative Innovation Changing

Transformative Innovation Changing

The innovation democracy: “Managers need to believe in innovation democracy, ideas with a billion dollar potential can come from anyone and anywhere. They need to accept their pivotal role as innovation champions”, as reminds Braden Kelley for Innovation Excellence. He claims that business schools and companies sometimes create more business administrators than innovators. To avoid this trap, we need to let ideas grow from any side of the company and build processes that invest and develop them so many voices can chart the future of the company. Managers should also be more focused on innovation.

From E-learning to Gamification: “It makes it easier to foster knowledge workers, and to promote within the organisation. Training managers can easily keep an eye on the progress of each employee, how engaged they are with learning, how quickly they grasp new concepts and more”, says Kerry Butters from Elcom Blog. New technologies have developed a range of creative learning tools that can improve knowledge sharing, from blended learning, social learning and gamification to continuous learning.

Open Knowledge: “We are not self made, we are dependent on one another and creativity comes from copying, transforming, and combining to improve. And also innovation. Collaborating with others, whether they are competitors, suppliers or partners can lead to faster new developments”. The Blend Hub explains how opening knowledge contained in formulation of agrifood products would help improve products, bring more value and accelerate innovation in the sector.

 

Changing

Transformative Innovation Changing

Transformative Innovation Changing

Geopolitics: “While they have been mostly bullish about the global economy since December 2013, executives are far less optimistic now. Only 39 percent expect global economic conditions will improve in the next six months, compared with 59 percent in our June survey. What’s more, 80 percent of respondents now believe geopolitical instability in the Middle East and North Africa is very likely or extremely likely to shock the global economy in the coming year, the largest share since 74 percent said the same in September 2013”. As McKinsey explains, change in geopolitics and global economics affect more deeply business owners and C-Level concerns about their strategy and market potential. Although difference remains in geopolitics impact between Europe and emerging economies, the global economy and geopolitical influence on companies is changing the way we drive business.

Culture: “We’d love to just take a blueprint from another company and apply that to ours. But culture is something you need to work hard on, something that takes years of learning and improving to bring about, and it requires continuous nurturing to stay healthy”. Mathias Meyer from paperplans.de uses a company case to detail the difficulties and misunderstandings that occur when we try to simply copy and paste cultures without analysing the core roots of failures and successes for each companies. Not making sense eventually leads to nonsense. “You simply can’t replicate cultures”, concludes the author.

Creatively and Collaboratively : “As we recognize ourselves and our organizations as living systems, we see that these moments of improvisational flow aren’t magic.  They’re our birthright.  They’re the way we’re wired to operate.  But we’ve lost the ready capability to tap into that mode of operation. In fact, the reality is that we have no choice but to develop our ability to improvise.” Most companies seem to avoid the idea of improvisation by developing sophisticated ways to control a business and a company, but Michelle Holliday from Solarium thinks it shouldn’t be so. She explains how the complexity of today’s world urges us to think creatively and collaboratively, improvisation being one of the most natural human source that could inspire change.

 

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Education is the key to everything, says Georges Sand.

On The Go Georges Sand
On The Go Georges Sand

On The Go Georges Sand

On the go is your weekly innovation story inspired from elsewhere.

I happen to live where Georges Sand was born and spent most of her life. I just finished reading her novel “Mauprat”, which takes place just a few kilometres away from me, but 200 years ago. How did this place look like at that time? Honestly, I presume pretty much the same as today… “a savage sadness” as Georges Sand puts it, landscapes which will not necessarily be beautiful to most people but hold a specific beauty to you.

“A savage sadness” would perfectly describe the novel “Mauprat”. It is the very long story of a once outlaw who was granted freedom, security and love for saving a young lady from his fellow thieves, and being educated by this young lady. I say it’s very long because it’s written in 19th Century style, which I do appreciate, but seriously, it’s a lot of words.

Nevertheless, the very last page, on top of a handful of passages in the second half of the novel, is full of philosophic, religious, social, political, revolutionary thoughts from the author (bear in mind Georges Sand was a woman writing under a man nickname). It brings a complete different view to the story and actually propulses it centuries ahead.

 

“Education can and must find a solution for everything; that is the core issue, defining an education that answers individual and specific needs. General and common education seems necessary, does-it necessarily mean it should be the same for all?” (…) “Until the problem of defining an education common to all of us, while adapted to each of us, make sure you correct each other. You ask me how, my answer will be short: by loving each other”.

 

She also has this interesting thought a few pages earlier in the voice of the main character, Bernard, who has now become an old man telling long stories about his life close to a fireplace.

 

“Seek to find a honest, severe friend; and don’t love the one who flatters you, but the one who corrects you.”

 

I believe this is somehow a good way of living while accepting others imperfections. Maybe there’s something we need to change in ourselves, maybe the fact that others challenge us with a different standpoint isn’t negative, but pushing us further. Bernard Mauprat symbolizes this society I suppose Georges Sand would have liked to live in, where people would share knowledge and evolve because they care for each other, because they learn from differences, and eventually leave “savage sadness” to create some sort of beauty of their own, but together.

While I’m not sure whether we managed to build such a society two centuries later, I am definitely certain her thoughts are still inspiring. At least I hope they were for you.

 

Have a nice week-end.

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Ladies first? Women and Innovation, the latest trends

InnoTrends Women and Innovation

InnoTrends is a monthly trends analysis by innovation segments.

This month has been a lot about how to better integrate female workers in the IT industry. Three main events for that: Silicon Valley’s top companies unveiling the massive women shortage among their resources and assets, triggering a range of supportive programs to increase the number of girls to follow STEM related degrees at universities and schools, and a whole lot of women prizes, including youngest Nobel Prize ever, Malala.  

A shared sense of emergency

InnoTrends Sense of Emergency

InnoTrends Sense of Emergency

Fighting Clichés

Press and Medias

Press and Medias

In Les Echos, Julie Le Bolzer explains how Valérie Rocoplan tried to investigate professional stereotypes on women at work. She mentions emotivity, lack of availability and authority as being the main clichés. She argues that women are workers as any others, with different backgrounds and set of experiences and skills. As a way to develop feminine presence on boards, she advises ladies to create their own management style. Satya Nadella, Microsoft CEO, committed an impactful communication mistake when allegedly advising women to wait before they ask for a pay rise, as Julien L. from Numerama explains. He then apologised via Twitter to publicly recognise that the inequalities between men and women at work had to end. As Le Monde reminds, only 29% of Microsoft employees are women. Kathie Johnston from The Boston Globe reminds how personal attitudes related to men-women relations at work were strongly impacted by clichés. It creates “fear of being offensive” for men, or being told “they’re hard to work with” as women. Sarah Ellison, senior economics lecturer at MIT said about the research she co-authored on diversity and workers happiness: “they liked the idea of diversity more than they likes actual diversity”.  The diversity issue isn’t spread evenly across sectors and company size, as explains Naomi Shavin from Forbes: “Larger companies with revenues promote more women, but globally, the percentage that do so is still only 49%, and in the US, it’s 44%”. In London, the issue has led Mark Boelat from The Guardian to highlight KPMG’s comments on women at work: “Technology companies with more women in their management teams have a 34% higher return on investment.”

Challenging metrics

Innovation Experts

Innovation Experts

Ann Stars from Innovation Policy reminds that in poorer part of the world, women are still struggling to find health services during pregnancy and for their newborns. A great part of these women isn’t able to access family planning advice or medication. “Various UN bodies have been working intensely over the past year to mold the post-2015 development agenda. It is encouraging to see that, thus far, sexual and reproductive health has been included in most drafts and discussions related to the Sustainable Development Goals.”, concludes the author. For his part, Roberto Baldwin from The Next Web reminds that diversity with a great D remains a challenge, with ethnicity as another driver. “In addition to being 71 percent male, the overall company is 60.6 percent Caucasian, 28.9 percent Asian, 5.1 percent Hispanic/Latino, 3.5 percent African American/Black, with the remaining 2 percent identifying as multi-racial, American Indian/Alaska Native and Hawaiian/Pacific Islander.”

Changing the game

Schools and Institutes

Schools and Institutes

Francesca Dino from the Harvard Business Review explains how training for diversity proved less efficient than “efforts that established responsibility for diversity (such as diversity committees and diversity staff positions) were more effective and were followed by increases in diversity”. The efforts leading to attracting more women in IT industry would even have to challenge current rules, as Nigel Nicholson from London Business School explains: “We will never get more women into leadership so long as we persist in organising in ways that suit the biases of the competitive boys currently gaming the system, even when it’s not the best way to run things.” Lynda Gratton, her colleague from London Business School, explains how “To truly embrace diversity we must first be able to appreciate difference.”

Design Mindfulness

Research and Consulting Firms

Research and Consulting Firms

Albert Allen Bartlett from McKinsey explains in following interview for Tom Peters how  “the greatest shortcoming of the human race is our inability to understand the exponential function.” To overcome this shortcoming, explains further in the interview the importance of using both technologies and face to face meetings to get to know talents inside companies, not only through video conferencing but also by meeting “the human part”. He adds that women have a distinctive trait of “knowing how to do the workaround” that few men can deploy and sees benefits in including more women in teams to shortcut ideas that take a long time to roll-out and explain. To maintain organization flowing together, details in communication, finding the right allies and developing sustainable growth are key.

Getting things right

InnoTrends Getting things right

InnoTrends Getting things right

Philanthropy

Schools and Institutes

Schools and Institutes

The first solution is to look closer, as Jacki Zehner from the Stanford Social Innovation review explains: “To apply a gender lens is to deeply examine how culturally entrenched gender norms affect women and men differently, and then take these distinctions into account when identifying both the problems and the solutions. Applying a gender lens is about more effective philanthropy.” Shira Mor, from the Harvard Business Review, thinks that women can succeed only if they managed to combine their personal and professional personalities “not as in conflict, but as fundamentally compatible”. Could sport be another workaround to integrate women on the C-suite? Nanette Fondas reveals on HBR blog that a study conducted by EY Women Athletes Business Networks shows “women executives who once played competitive sports, in college or elsewhere, prefer to hire other people with athletics in their background”. Indeed, women are getting organized to offset current trend. Wharton University explains how in the midst of Silicon Valley women sharing experience and looking for constructive solutions, Vivek, who worked on a research on women and IT, could hear “a very positive message overall, and I’m hoping that they will inspire thousands of women now to take their rightful role in the innovation economy and to save the world.” Joan C Williams explains on Harvard Business Review how we should use bias interrupters to intentionally change cultural behaviours towards women. As she says, “First, bias interrupters are based on objective metrics, whereas cultural initiatives tend to rely on earnest conversations. Second, interrupters are iterative, so they allow companies to try small interventions and then scale them up. Last, interrupters build change into the basic business systems that perpetuate bias, so they are less likely to disappear when a new CEO decides that diversity is not an imperative.”

Unlocking girls’ greatness

Innovation Experts

Innovation Experts

Innovation experts report on outstanding initiatives that are taking place in the world to enable more girls to attend school. TED mentions in particular the testimony of Malala Yousafzai’s father relating how important it is that all children in the world attends school, young girls in particular. Young girls like his own daughter, Malala, whose life has been threaten just because she wanted to go to school. Another Nobel Prize winner, Leyma Gbowee, tells about her life transformation and her will to unleash potential of girls around the world. In a recent video, Malala Yousafzai herself encourage young girl to learn coding during the Europe Code Week organised in October.

Filling the gap

Press and Medias

Press and Medias

According to Selena Larson from ReadWrite, the BRAID program will help filling computer science classrooms with more young girls by providing 15 universities “$30,000 a year for three years to implement programs similar to the one that helped Harvey Mudd achieve 40% female enrollment in computer science classrooms. Facebook, Google, Intel and Microsoft have committed to funding the program”. Michael Carl from WND reports on a research that highlights the link between freedom of religion and women freedom. Upon Malala Yousafzai win of Nobel Prize, the president of the Swedish Committee that awarded her this exceptional distinction reminded in Les Echos that “children need to go to school, instead of being financially exploited”. In following article for Fast Company, Samantha Cole introduces five women entrepreneurs who share their best advice for young girls to pursue their career. The five advice share a common belief: we can only be successful if we accept to be who we are. And for some of us, it means being a lady. Even universities play the new game, as reports Lindsay Gilpin from Tech Republic. She mentions that “ For the first time since the school has been keeping records, there were more women than men (106 to 104) enrolled into an introductory computer science course for the spring 2014 semester at University of California Berkeley. The class changed the name from “Introduction to Symbolic Programming” to “Beauty and the Joy of Computing,” and female enrollment increased by 50%.” Once filled with knowldege and sure of who they are, all women need to do is to step-up. Nancy Vonk, on Fast Co-Create, writes that “Stage fright or any other barrier to the kind of visibility that means the advancement you deserve can be tackled today. Step one is knowing that life’s not fair. Let’s all get over it, and get what we want.

Market changes

Customers and Influencers

Customers and Influencers

Rules of markets have changed as well. As Valeria Murgich explains for Merca2.0, “40% of console games are women players and one out of five Wii players are aged 45-64 years old.”

Inspiring for STEM

Science and Technology Experts

Science and Technology Experts

In order to encourage young girls into STEM subjects in schools, associations have started “coding parties” in Washington DC. As Lauren Mafeo reports for The Next Web, “These programs, as well as the Made with Code parties, are an extension of a six-week summer camp that is hosted in partnership with Women’s Society of Cyberjutsu and Lockheed Martin. And the nonprofit also offers SHE-E-O Career Days, where their girls “speed network” with women in STEM careers. Thus far, more than 100 girls have networked with women at companies like Cisco, NASA, Exxon, and more.”  

Ladies who went first

InnoTrends Ladies who went first

InnoTrends Ladies who went first

Business Intelligence

Companies

Companies

Antivia software has presented a list of the most influential women in business intelligence. Among them, you’ll find: Mico Yuk, Founder and President at Everything Xcelsius ; Jen Underwood, Founder and Principal Consultant, Impact; Piyanka Jain, CEO of Aryng Consulting; Yvonne Jones, Data Integration Director at Shire Pharmaceuticals; Claudia Imhoff, Founder and President of Intelligent Solutions. The full list is available here.

Women entrepreneurs

Innovation Experts

Innovation Experts

Innovation experts also share their best women contacts among entrepreneurs and IT partners. On the entrepreneurs list, Norman Rozenberg from Project Eve, mentions:

  1. “Barbara Lynch Gruppo: Ask anyone who lives in Boston and he or she will rave about chef Barbara Lynch’s namesake company, which operates some of the city’s most prestigious—and profitable—restaurants and bars. Since opening her first eatery in 1998, the steakhouse No. 9 Park, Lynch has continued to draw crowds and critical acclaim, both in Beantown and beyond.
  2. LearnVest: LearnVest, which offers financial planning and budgeting guidance, was founded in 2009 by Alexa von Tobel. The certified financial planner (C.F.P.) has guided the company to success over the past five years, as she has raised more than $70 million in financing and spearheaded initiatives that have led to explosive growth in its customer base.
  3. Rent The Runway: Co-founders Jennifer Hyman and Jennifer Fleiss dreamt up the concept behind Rent The Runway while they were classmates at Harvard Business School. On a trip home to New York City, Hyman was inspired by her sister’s frustration at not being able to afford a designer dress for an upcoming wedding. Rent The Runway was born of that need, as the company allows its more than 3.5 million members to rent dresses for a much smaller fee than they would normally cost at retail.
  4. Eventbrite: Eventbrite is an online ticketing service that lets organizers plan, set up, and market various events. Co-founded by Julia Hartz, the company also lets users buy and sell tickets on the platform, which has both processed billions of dollars worth of ticket sales and expanded into more than 175 countries. Hartz, who serves as the company’s president, has played an instrumental role in Eventbrite’s success, as she oversees its growth and in-house strategies”.

About women in tech, Craig Newmark posted below names on his blog Craig Connects:

  1. Kelly Hoey, @jkhoey, is a strategist, speaker, startup board member and angel investor focused on social/digital and the human motivations which fuel innovation. A connection-maker, networking strategist and expert community builder, Kelly is known for her leadership in building valuable professional networks, understanding the dynamics of engaged communities and the “how” of raising visibility, online and off.
  2. Women Who Hack, @WomenWhoHack, are casual get togethers for women who want to hack on projects with or around other women. All types of projects (software and hardware), languages, platforms and experience levels are welcome. Their goal is to support local women hackers (and aspiring hackers) by providing a safe, welcoming environment in which they can connect with and learn from each other. They’re based in Portland, OR.
  3. Kimberly Scott, @COMPUGIRLS, is the Founder of COMPUGIRLS, a culturally responsive technology program for adolescent (ages 13-18) girls from under-resourced school districts in Phoenix and Colorado. Kimberly is also Associate Professor of Women and Gender studies at Arizona State University and an Affiliate Faculty in George Mason University’s Center for Digital Media Innovation and Diversity”.

Talents and prizes

Press and Medias

Press and Medias

The list of successful women and young girls goes on in press and medias. Some names stand out as being a little more well-known, but all deserve to be mentioned as contributors to women success in science, biology, peace and fight for education, mathematics, finance and technology in Africa. The Guardian presents 5 talented women in Open Source, including “Carol Smith, Google, a California State University graduate with a journalism degree. Carol Smith manages Google’s Open Source Programs, including the Google Summer of Code, a global program that pairs student developers with mentors as they work on code for various open source software projects around the world”. Elaine Burke from Silicon Republic presents “8 inspiring girls making an impact on STEM and education”, among which “Ciara Judge, Sophie Healy-Thow and Émer Hickey, champions at the 2013 BT Young Scientist & Technology Exhibition for their project, Combating the Global Food Crisis: Diazotroph bacteria as a cereal crop growth promoter. ” Amar Toor wrote an article for The Verge which mentions Malala Yousafzay life who “survived and went on to become a global advocate for the education of women. In 2013, she delivered an impassioned speech to the United Nations in New York, and created the Malala Fund to help empower young women around the world.” Bahar Gholipur from Live Science presents Mirzakhani who won the Fields Medal along with 3 other mathematicians, the most pretigious prize for this science. “This is a great honor. I will be happy if it encourages young female scientists and mathematicians,” Mirzakhani said in a statement. Mfonobong Nsehe from Forbes reports on “Africa’s richest woman, Africa’s wealthiest woman taking banking empire to Namibia”. He explains how “Isabel dos Santos has reportedly been granted a provisional license by the Central Bank of Namibia to launch a local subsidiary which would operate as a banking institution in the country and trade under the name, Bank BIC Namibia Limited.” In Africa again, Ethel Cofie from CNN relates the story of hundreds of women who changed a pan-Africa meeting for Women In Tech Africa into a Twitter conversation. As Ethel explains, “Twitter conversation with the hashtag #WtechAfrica had the reach of 74,502 and 195,209 impressions on Twitter connecting female technologists all over Africa ably supported by one of our speakers Enyonam Kumahor.”

Digital talents

Research and Consulting Firms

Research and Consulting Firms

On the 30th of september, the French consulting firm Econocom has awarded 5 women with the Excellencia Prize. As a way to promote digital initiatives and highlight talents, the prize is supported by Econocom, EPITA (a French engineering school), Femmes du Numérique (Women in Digital), and Syntec committee.

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Posted in InnoTrends

Interoperability creates boundless creativity

Interoperability and boundaries

Back when I was still working for my former employer, I used to develop concepts and market requirements for interoperable projects. “Interoperability”, a long word which holds the charm of a lengthy story. It’s meant to bring technologies to connect to each other, ultimately connecting people behind. It’s meant to build new breeds of networks. Relations that could never exist before. A language agnostic world of communications. So if we bring all these people together, where do you think this story ends?

 

Connecting to one another

Interoperability and creativity

Interoperability and creativity

What happens if we suddenly unleash the power of world connectivity, establishing contacts beyond frontiers and timezones? We enable the world to talk, to listen, to enhance, to reshape the story. We create a giant talent pool, mobile, data-rich, connection-rich, content-rich. Is our story going to be richer?

 

 

Bringing more people on our side

Interoperability and customers

Interoperability and customers

With more connection the story gets a little more moving, appealing enough to create a reaction. This is the result of adding perspectives and collaboratively refine them. All it takes is creating the community by leveraging their common denominators. First joiners are the hardest to get. But they also turn out to be the most valuable. That’s because they’ve witnessed us in the warzone, on product launch, on first contact, first presentations, first contract, on first processing. And they still paid the bill. With them we have defined our stickiness to market. The more people we engage, the more people will engage, the greatest your responsibility over them will be. It’s our sense of commitment.

 

 

Building new______

Interoperability and change

Interoperability and change

Changing from within, being “the change we want to see”, being an engine of change. Platforms that enable networks and applications to interact and foster innovation with endless perspectives catalyse change. This is how we enable people to go further: bridging seperate worlds and pushing limits.  In these infinites lay the common beliefs we share with customers. It’s our sense of conviction.

 

 

“This is a revolution”

Interoperability and growth

Interoperability and growth

The “snowball” effect drives an exponential growth. When properly driven it allows us to “migrate” stars to cashcows and “divest” strategically from legacy to invest in future. Customer engagement creates a new story. The platform becomes the customer voice, flexible, adaptative, open and reliable, partnering with leaders and market makers to enrich technological possibilities. Partners and customers co-create and to get the widest possible impact, the widest new “snowball” to go and transform again.

 

 

Freedom as a mindful choice

Interoperability and boundaries

Interoperability and boundaries

We bring benefit to the maximum followers, optimise to create value-added services for niche opportunities. The new business models generated by partnerships and customer focus has opened new ways of understanding and working, those that improve operations while creating common values. We now know what makes us move as a community. The platform is our experience, interlinked with our own seperate worlds but bringing together the assets that generate higher value when combined with external knowledge and expertise. Boundaries and data protection have become intelligent, secure and transparent enough to sustain growth. There are boundaries. The difference is we choose which they are and why they’re here.

 

 

Some of us will to spot on new niche opportunities and figure a way to make it a mass market via a shared platform. The Internet for instance keeps enabling this. Successful platforms seek to follow the same logic. By connecting to one another, we collectively decide to change, we collectively drive that change, we collectively create values. We choose to build intelligent boundaries that protect progress and individual assets to focus on shared ideas and co-creativity. So where does the story end? Truth is it never ends. In due time, we will create a new story. All it takes is making sure we’re part of it.

 

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Posted in On the go

Privacy, sharing 2.0 and synergies that save more than money

The Big Picture

The Big Picture is monthly PESTLE analysis that provides you with an outlook on innovation. Today we look at Legal and Environment. This month articles on Politics and Economics, Society and Technology are also available.

Privacy and sharing, the two antagonisms of Legal2.0

The Internet has thrown us in an virtual environment of virtual freedom, opinion variety and sometimes conflicts. Information and data that can be used either for good or bad purposes. It leaves us with the responsibility of judgement, which is a great, if not the most important one. How do we, as one global community interacting on one global platform, draw the line between good and bad, that is sharing freely and protection our freedom of privacy?

What can we share and how?

Privacy and Sharing

Privacy and Sharing

Sarah Cannon has published an article on HBR where she specifically points at regulation as being a barrier to sharing economy: “However, rather than rolling out the red carpet, city governments have resisted many of these new entrants issuing subpoenas and cease-and-desist orders. Just in the last month, Pennsylvania’s Public Utility Commission issued a cease-and-desist order on Lyft and Uber operations. The companies face fines of $1,000 per day, and 23 drivers face civil and criminal charges. Regulation is often the most significant barrier to future growth for sharing economy firms.” AirBnB and Uber have shown in the recent weeks how difficult it is to develop a sharing economy with regards to local, global, national, regional laws that necessarily affect their business. Raphael Minder from The New York Times reminds the amount of the difficulty for AirBnB to launch in Europe: “In July, the house-sharing start-up received its first fine in Europe, of €30,000, or about $38,500, for violating a 2012 law introduced by the regional government of Catalonia, whose capital is Barcelona, that forbids renting individual rooms for tourism purposes”. Further in his article, he highlights the contrast with cities such as Paris or San Francisco which have enabled AirBnB to operate in their cities and enter local tourism market.

Isn’t it the nerve of the discussion, as Ron Miller asks in his article for Tech Crunch. According to Ron, “The two businesses have obviously hit a nerve though and that’s likely because they’re starting to be more than an irritant to established businesses in each of their industries. Uber has received $1.5B in funding so far on an otherworldly valuation of $17B. Whether that number is right or not is subject to debate, but if you believe one number tossed out there, the total available worldwide taxi/limo market is valued at $100B. That means that Uber is already at 17 percent of that number in terms of its projected valuation. Airbnb meanwhile has raised in the neighborhood of $795M and reportedly has a valuation of around $10B, not quite as hot as Uber, but consider that according to a Fast Company article from earlier this year, the company “boasts 550,000 listings in 192 countries, and will soon surpass the InterContinental Hotels Group and Hilton Worldwide as the world’s largest hotel chain.”

A crowded discussion

Privacy and Sharing

Privacy and Sharing

One way to lower this barrier to market is to proactively go ahead of regulators and have a transparent and clear definition of what a business aims to do, with identified and validated benefits for all stakeholders, as Sarah Cannon suggests. DigitalEurope, a group representing major IT’s in Europe, has followed this advice and went on a meeting with Council of the EU to discuss the reforms needed to protect and reinforce EU data protection law. According to Peter Sayer from Computer World, “The current Data Protection Directive dates back to 1995, and the reform is aimed at reinforcing consumer confidence in online services, updating the rules to take account of new technologies, and potentially saving businesses €2.3 billion (US$2.9 billion) a year through reduced administrative burdens.” Members of DigitalEurope, which include companies such as Apple, HP and SAP, criticise the new proposed laws as being complex (and therefore costly).

These efforts to drive relations prove difficult, but that may be because EU and other regulations have a lot on their plate. As Menno Weij explains for Big Data Startups, in The Netherlands, “governmental plans for SyRI (System Risk Indication) caused some panic, since this system is meant to enable governmental institutions to detect fraud easier by using, amongst others, data mining and profiling.” In the UK, William Thomson explains in Power Admin that “The legal framework regulating the big data business model is based on existing principles of intellectual property, confidentiality, contract and data protection law.” He argues that a better model would be the one as posed by the Association for Computing Machinery Code of Ethics and Professional Conduct: “prohibiting use of computing technology in ways that result in harm to any of the following: users, the general public, employees, and employers. Harmful actions include intentional destruction or modification of files and programs leading to serious loss of resources or unnecessary expenditure of human resources such as the time and effort required to purge systems of “computer viruses.”

A crowded priority list

Privacy and Sharing

Privacy and Sharing

At the same time, Tara Terregino from The Street reminds that “the European Union’s competition authority is opening a formal investigation of Amazon’s European corporate income tax practices”, showing blurring limits of legal and economic difficulties. Other urgencies: Dave Lee from BBC News reports on Internet giants attending EU anti-extremist meeting to discuss the challenges posed by terrorists’ use of the internet and possible responses, internet-related security challenges in the context of wider relations with major companies, and ways of building trust and more transparency. Last but not least, BBC News mentions Europole’s difficulty to track cybercriminals, with the borderless activities and globalised actions required to track international experts, time and efforts needed. “We can still cope but the criminals have more resources and they do not have obstacles. They are driven by greed and profit and they produce malware at a speed that we have difficulties catching up with”, quotes BBC News.

 

Let the crowd decide

Privacy and Sharing

Privacy and Sharing

Who’s to decide? Jonathan Brandon, from Business Cloud News, mentions a survey from CSA that “suggests increasingly strong support is starting to emerge for harmonising privacy laws towards a universal set of principles as well as facilitating a global consumer bill of rights that builds on themes regarding data sovereignty and other principles set out in the OECD guidelines. Many respondents felt the United Nations could play a pivotal role in fostering some sort of global consumer bill of rights for data privacy”. Should we expect such a political change to happen or should we define a “bill of rights 2.0” (http://www.ddhn.org) ourselves, as some already did according to Les Echos?

 

Synergies that could save more than money

AirBnB and Uber get one thing right: sharing means less costs and greater reach, even though complex difficulties. Same goes for environment. Sharing resources, knowledge, findings and enabling technology to find its right place in overall efforts leads to result. As a proof, the ozone layer is starting to recover, mentions Live Science: “an evaluation, conducted by 282 scientists from 36 countries, credits much of this recovery to international action that phased out the production and use of ozone-depleting chemicals”.

Getting the right picture of climate change

Saving More than Money

Saving More than Money

Scientists need the right tools and data to analyse climate change and recommend actions that can continue lowering our negative impact on environment. In some areas, data inacurracy remains a challenge. As Anne M Starck found out for R&D Magazine, the level of temperature in Southern hemisphere has been underestimated, as the set of data used until now is largely outdated. The underestimation has impact on budget and policies rolled-out to protect oceans. This is the reason why the EU Commission had launched the COMBINE project, in order to provide accurate modelling to better estimate climate change and results are being shared with the Intergovernmental Panel on Climate Change. The good news is they can count in technology support, but they’ll have to wait a little. As a way to better measure the amount of carbon contained in forests, a Lidar-based satellite from NASA called GEDI (Global Ecosystem Dynamics Investigation) will be ready in 2018, as Michael Franco from CNET reports. GEDI will be able to scan tropical and temperate forests with a bouncing laser technology that has a fine enough scale to estimate carbon content in canopies both horizontally and vertically. This accurate picture will enable to understand how deforestation is devastating environment. Other projects to monitor ocean temperature, clouds and hurricanes are also under development or will be starting soon.

Learning from others

Saving More than Money

Saving More than Money

Sharing also means witnessing change and perhaps bringing our own brick to the wall. Emerging economies, as business strategist and author Navi Radjou explained to Mark Hillsdon from The Guardian, “There is a growing awareness that there needs to be a new model for both producing and consuming that focuses on doing better with less,” he explains. Brazilians call it jeitinho, the Chinese zizhu chuangxin, the Kenyans jua kai. Tellingly, there’s no such word in English. The closest we get is “make do and mend”, which doesn’t quite have the same kick.” Companies like Microsoft and their Digital Green initiative, the MIT and Tata Center for Technology and Design have become involved to deploy new innovation that would learn from and help emerging economies develop “frugal innovation”.

Some argue we critically need to look elsewhere. Clive Hamilton, professor of public ethics at Australia’s Charles Sturt University and a prominent critic of geoengineering, argues in an interview by Olivia Boyd for Innovation Policy that “in a way the greatest risk is human hubris, our penchant for persuading ourselves that we know the answers and we have all the necessary information, we can intervene and take control of the earth. Another nightmare scenario might be one where an attempt by one major power to engineer the globe’s climate system attracts a hostile response from another major power, who doesn’t take kindly to competing for control over their weather and it escalates into a military confrontation.” With the clear need of democratical move to include people in discussions and projects, he hopes “the nascent environmental movement in China would take an interest in geoengineering because I think it’s going to be a dominant political question in China in several years time. I’m sure if China did go down the geoengineering path it would try to present its actions as motivated by the need to protect the interests of vulnerable people across the developing world.” Jenna Nicholas from Stanford Social Innovation Review mentions how foundations also help understand the divest-invest impact needed for sustainable projects. “At the UN during Climate Week late last month, more than 70 foundations in collaboration with individuals, universities, faith-based groups, schools, hospitals and cities from around the world—representing $50 billion—announced that they would divest from fossil fuels and invest in new energy solutions.”, he reports. From his point of view, “To slow climate change, according to a recent Ceres report, we need to close the clean investment gap with a “clean trillion” dollars invested every year, from now through 2050. If all philanthropic institutions deploy a portion of their assets toward renewable and clean tech, and other sustainable options, we can participate in closing that investment gap and help scale industries.”

The positive impact on economies

Saving More than Money

Saving More than Money

Cost efficiency, job growth and research excellence, these are the outcomes for all. Bloomberg quoted the latest report from the Global Commission on the Economy and Climate to explain how “Countries can expand their economies through emissions reductions in cities, land use and energy”. They explain that several countries including the U.K. could save over $3 trillion by investing in better connected cities, restore world’s degraded land to feed 200 million people and raise farmers’ income by $40 billion a year, and phase out $600 billion of fossil fuel subsidies while investing 0.1 percent of GDP in research and development in low carbon technologies. The PlantingSeedsBlog refers to a report that details how “the biobased economy is, in fact, growing and it offers great potential for increased job creation in numerous sectors across the U.S”. After mentioning a new contract with USDA BioPrerred to further investigate the impact of bio-based products on the economy, they explain that “The Biotechnology Industry Organization (BIO) has estimated that U.S.-based jobs for the renewable chemicals sector will rise from approximately 40,000 jobs in 2011, which represents 3%-4% of all chemical sales, to over 237,000 jobs by 2025. This employment level would represent approximately 20% of total chemical sales.” On the energy side, Vincent Champain from Le Monde explains in following article that the Long Term Observatory (Observatoire du Long Terme) is favoring a German-French energy space. They argue that by exchanging sustainable projects (for example sun energy in South of France and wind energy in other German regions), energy would be more cost-efficient.

What about us?

Saving More than Money

Saving More than Money

Put together, all this knowledge could enable us to adapt to climate change. On R&D Mag, the Lawrence Berkeley National Laboratory takes us through the ACME project that involves 8 US national laboratories, academic institutions and private sector into “accelerating our progress towards actionable climate projections to help the nation anticipate, adapt to, and ultimately mitigate the potential risks of global climate change”.

Innovation is also about global food security. Joanna Roberts from the Horizon magazine EU reports on the EU-Funded YIELD project that which uses “groundbreaking applications of modern genomics to stabilise and increase the yield of processing tomato hybrids, which are used to make ketchup and sauces”. She quotes Dr Julia Cooper from the University of Newcastle who explains how “The high yields we now achieve in crop production are beneficial because they’re feeding the world’s growing population but it’s coming with this decline in efficiency. That means that all of the nutrients that the crops aren’t taking up and using to produce yields are causing damage to the environment.’ Dr Cooper said the project’s work is important in working towards global food security.”

Green innovation may just be about living. As Ben Schiller from Fast Co-Exist explains, the health co-benefits of cutting greenhouse gas emissions could save 3,500 American lives a year. He mentions a new paper from researchers at Harvard, Syracuse and Boston universities that explains how Ohio, Texas and Pennsylvania would mostly benefit from deploying emissions reduction measures.

 

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Posted in The Big Picture

“Big Innovation Now”? A parallel reading exercise

Big Innovation

On the Go is your weekly innovation inspired by elsewhere.

 

Sometimes “elsewhere” is not very far. Today, it’s just next door. Because of the critical economic, technological, social, cultural and systemic impact of Big Data, it is important to understand what mechanics lay behind, and actually, also beyond. There are free resources to get started with Big Data analytics and tools, the one I’ve chosen to explore is O’Reilly “Big Data Now”, available for download on the iBook Store. After going through a few lines, you can start reading a parallel discourse describing an inspiring world of innovation. Because it’s parallel, it looks very close. At hand. Could it be called… Big Innovation?

 

What is Big Innovation ?

Big Innovation

Big Innovation

Big Data is the concept of exceeding data from existing infrastructures and systems that need to be analysed in a new way

Big Innovation is innovation that is too complex or too new to be analysed and rolled-out with existing strategies. It requires a new approach. It requires “No-SQL”, Non-Standard. It is Meta-Consumer, Meta-Markets, Meta-Needs led, and it has a language that changes as the world, environment, cultures evolves. It has Meta-Impact. And it requires Meta-Changes.

 

Big Data requires agility, acceptance of experiments and failures, will and entrepreneurship

Big Innovation requires agility, acceptance of experiments and failures, will and entrepreneurship shared as a team. As much as Big Data requires specific skills and scientist background to be managed and optimised for success, Big Innovation requires new set of capabilities and organisation to spur. Big innovation enables you to take part of the discussion, and it enables you to learn how to take it forward.

 

« In an agile, exploratory environment, the results of computations will evolve with the detection and extraction of more signals. »

In an agile, exploratory environment, the results of  Big Innovation will evolve with the detection and extractions of more market signals. It enables you to build strategies based on changing needs, it enables you to adapt.

 

” Big Data is messy because of the high cost of data acquisition and cleaning, it’s worth considering what you actually need to source yourself.”

Big Innovation is messy because of the high costs of transformation, it’s worth considering what you actually need to meet customer needs. It’s worth knowing who you are, what you want and can achieve based on your unique values to market before you create your own Big Innovation.

 

How does Big Innovation work ?

Big Innovation

Big Innovation

« Data must be broken out of silos in order to be mined, and the organization must learn how to communicate and interpret the results of analysis”

Innovation must be broken out of silos in order to be successful, and organisation must learn how to communicate and execute Big Innovation strategies to market. The skills will encompass statistical analytics and computer science, but also storytelling, vision setting, value communicating down to end-user. There are no big math behind that. It mainly is your heart talking.

 

« Driven by social, mobile, and cloud technology, there is an important transition taking place, leading us all to the data-enabled world that those companies inhabit today. »

Driven by social, technological and economical changes, there is an important transition taking place, leading us to Big Innovation. How will technology, retail, communication, banking, education, science and markets co-create the future?

 

« The key trait is to make an organization’s feedback loop entirely digital. That is, a direct connection from sensing and monitoring inputs through to product outputs.  »

The key trait is to share innovation feedback loop instantaneously. A direct connection from sensing and managing customer needs through to product ideas. Instantaneous changes, universal customisation that makes sense.

 

It obviously isn’t just about Big Data, nor is it just about Big Innovation. These stories are so closely linked, it looks natural and instinctive to mix them. There may be other parallel stories. There may even be a parallel story that is only yours. I encourage you to try and play parallel reading of this book.

 

Have a nice week end.

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Posted in On the go
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