Innotribe at Sibos Osaka: Hyper-Economies

28 Sep

I blogged about the overall Innotribe Program at Sibos here. That post is kept up-to-date with the latest announcements and program changes. The Innotribe program is also available here on the Sibos website.

This blog post shares some more details about the Hyper-Economies session. The session Hyper-Economies will take place on Tuesday 30 Oct 2012 from 12:30 till 14:30 in the Innotribe Space (the special tent in the middle of the conference centre).

We live in a hyper-connected world. The speed of change is increasing exponentially. Information has become abundant, versus scarce in the past, and change is happening in real-time.

This session will focus on the major cultural tectonic shifts that are underpinning and driving the hyper-connected economy and are the under-stream of deep organizational changes. We are witnessing the birth of
new economies based on hyper-connected organizations, exposure of core competence through APIs, horizontal sourcing versus vertical integration, Peer-To-Peer (P2P) sharing of data and Open Source developments, that lead to a new practice for value creation.

We have brought together an eclectic set of igniters (our name for “speakers”) to have a healthy interactive debate on the challenges and opportunities these changes represent for our financial industry.

Mark Pesce

Mark Pesce is Founder of Future Street Consulting, based in Sydney. He is currently publishing a book on the topic, titled “The Next Billion Seconds”. Mark was already with during the Innotribe Bangkok event in April of this year.

Every company should assess whether it is reducing frictions, or whether it is introducing frictions. This friction (less)-rule not only applies to organizations and functions but also to people and events.

But be aware, there are some “irreducible” frictions. Mark Pesce identifies 6 of them, all starting with a “T”. Here is how Mark Pesce describes the 6 “Ts”:

No matter how ‘smooth’ and frictionless hyper-connected commerce becomes, certain frictions in the business world will persist.  These represent both speed humps and opportunities.  The businesses of the 21st century will find leverage and differentiation by identifying and exploiting them.

 

  1. Time – If it were done when it were done, they’re well done quickly;
  2. Territory – you can’t be everywhere at once;
  3. Talent – some people are naturally better at it than others;
  4. Trust – is rarely immediately conferred, instead growing from a continuing relationship, and must exist for commerce to succeed;
  5. Tongue – language barriers persist until we all speak Globish.
  6. Tension – frictions in teams between humans

The topics that Mark addresses are very relevant to the evolution towards Banks-as-a-Platform and the Cambrian Explosion of Everything.

Michel Bauwens

Michel Bauwens is in my opinion the absolute “guru” for the P2P Economy, the thinking behind the Commons and the role of Open Source in software and other collaborative approaches.

He is the founder of the Peer-to-Peer Foundation and works in collaboration with a global group of researchers in the exploration of peer production, governance, and property. Michel currently lives in Chiang Mai, Thailand, has taught at Payap University and Dhurakij Pandit University’s International College. He is a founding member of the Commons Strategies Group.

The Hyper-Connected economy leads to new models of co-operation, and value production in highly connected P2P networks. Michel describes this as “Commons-Oriented Peer Production”

To get a deeper understanding of Michel’s work, check-out this fantastic report “The Synthetic Overview of the Collaborative Economy” (link to PDF file)

Allevo

Allevo’s presence at Sibos will be under the signs of Innovation and Open Source.

Their project FinTP gravitates around the bold idea of developing an open source application for financial transactions processing and a creative community around it.

FinTP is an open distributed application for processing financial transactions and it is based on the 7 years practice proven solution Allevo has successfully deployed at its customers.

Covering the entire life cycle of financial transactions, FinTP intends to create a widespread financial transactions processing platform, an alternative for an industry common solution. The hope is this will evolve into a new standardization layer – a single financial dialect comprehensible for any party involved from individuals, SMSs, to corporates and financial institutions.

We believe this represents in fact the acceptance of the commoditization of the payments processing arena.

The format from this session will be a facilitated conversation. Like in Bangkok, we will help the audience identifying friction points in their value chains, and assess how the concepts of the Hyper-Economies, P2P and Collaborative Economy, and Open Source can give rise to a rich eco-system of parties building added value on top of Open Source platforms in financial services.

The session Hyper-Economies will take place on Tuesday 30 Oct 2012 from 12:30 till 14:30 in the Innotribe Space (the special tent in the middle of the conference centre)

This session is a meta-story for the session “Future of Organizations”, that follows right after this Hyper-Economies session.

By @petervan of the Innotribe Team.

Innotribe@Sibos Osaka 29 Oct – 1 Nov 2012

28 Jul

Now in its fourth year, Innotribe@Sibos, the initiative’s flagship event, runs throughout Sibos week and offers a comprehensive programme exploring a range of topics crucial to the financial industry. Innotribe@Sibos in Osaka will once again bring together a powerful combination of world experts to participate in an exciting mix of keynote sessions, case studies, and interactive discussions.

Some aspects of Innotribe@Sibos will be familiar to those who have attended before, such as the Innotribe Labs and the magic they create. But we will also explore new formats and new topics, and experiment with new facilitation techniques, such as game-storming and open space discussions. Building on our history of creating compelling line-ups of speakers, Innotribe will bring together a set of our most exciting innovators yet.

Innotribe will take the main stage at Sibos 

with an awesome Innotribe opening session.

In the last four years, we have made roads into the main Sibos conference: in 2009 we were located 15 minutes away from the main conference area; this year we are at the heart of the event. The Innotribe space will be the first thing you see when entering the event, and this year we have secured three main conference sessions. The Innotribe Space will be located in our own tent, in the middle of the conference patio. It just looks gorgeous!

Who should attend?

Innotribe@Sibos is open to all who come to Osaka. It brings together strategists, business and technology leaders, trend-setters and trend-watchers, and thinkers interested in taking action and shaping the future. In short, anyone keen to find out how the world is changing and what that means for our industry.

Why attend?

Join us to discover new business and technology trends; share and discuss ground-breaking ideas for co-investment; and challenge each other to build theoretical concepts into tangible prototypes in professionally facilitated workshops.

Programme

Innotribe Opening: The Tribe on the Tatami - Plenary Room

In 2011, this session was standing room only. In 2012, Innotribe will take to the main plenary stage for the first time, giving a sparkling overview of the 2012 Innotribe program. Through inspiring keynotes, spiced up with some novel interactive formats and techniques, the 2012 Innotribe@Sibos topics will be introduced, followed by an amazing performance with one of the leading judo practitioners. This will be a session not to be missed.

Already confirmed:

  • Sean Park, Founder, Anthemis
  • Mark Pesce, Founder, FutureStreet
  • William Saito, Founder & CEO, InTecur, K.K.
  • Kosta Peric, Head of Innovation, SWIFT
  • Christopher Siers, Director, Financial Services Network
  • Aiko Sato, Women’s World Champion Judo (-57kg)

BREAKING NEWS: Very proud to confirm Aiko Sato (Current 57kg Women’s World Champion Judo) for #innotribe opening #sibos http://see.sc/kJpiBI > Aiko will do live demonstration of Innovation Themes through Judo Movements.

Innotribe Health Index: Accelerating positive re-balancing - Innotribe Space

The Innotribe Health Index is a brand new Innotribe initiative. Through six different lenses (Reputation and Sentiment, Relationship, Big Shift Readiness, Technology Readiness, Urbanization and Inequality, and Agility), we will try to give an alternative ‘health check’ of the financial system. The intention is that the Index is an annual checkpoint based on New Economies and New Values thinking, aimed at accelerating a positive re-balancing.

Already confirmed:

  • Wouter De Ploey, Director in Business Technology Office, McKinsey & Company
  • John Hagel, Co-chairman, Deloitte Centre of the Edge
  • Michael Jones, VP of Technology, Dachis Group
  • William Saito, Founder & CEO, InTecur, K.K.
  • Michell Zappa, Founder, Envisioning Technlogy
  • Julius Akinyemi, MIT Media Lab and Wealth Of Nations

Ignite Talks - Innotribe Space

Ignite Talks is a new Innotribe format of  with 4-5 short 15 minutes power talks by innovators from the financial industry. We will share some of the presentations we have seen in 2012 that really wowed the Innotribe team. There will be three sessions spread over the event.

Already confirmed:

  • Antonio Benjamin, Global Chief Technology Officer & Managing Director , Citi
  • Shamir Karkal, Founder and CTO, Simple
  • Jesper J. Koll, JPMC
  • Nils Boesen, Director Knowledge, Innovation and Capacity, United Nations Development Programme

Future of Money - Conference Room-2

This session will look at financial innovation in detail. What’s happening on the fringe of traditional finance, with new alternative currencies and peer-to-peer payments? How are the innovative ideas of last year evolving and how quickly are they becoming mainstream? What can we expect to see next from some of the leading big financial innovators? Expect discussion on these themes and more.

Already confirmed:

  • Udayan Goyal, Founder, Anthemis
  • Chris Skinner, Balatro Ltd
  • Eli Gothill, Research Technologist, We Are Social
  • Ben Milne, CEO and Co-Founder, Dwolla
  • Mike Laven, CEO, The Currency Cloud
  • Yoni Assia, Founder and CEO, Etoro.com
  • Vipul Shah, MD, Product Strategy Executive T&SS, J.P.Morgan Chase
  • Paul Wilmore , Managing Director, Barclays US

SWIFT Applications Platform – Innotribe Space

The SWIFT Applications Platform is a strategic initiative, currently in the ‘incubation’ phase that aims at delivering cloud-based financial services and applications in a simple and secure way. Key objectives include providing a harmonised framework in terms of security (authentication and authorisation) and APIs usage, along with a simple, integrated customer experience. The platform will be built around three main pillars:

  • A secure business portal and application store that will allow users to find and purchase financial applications and services. Offering a harmonised user experience as one place to subscribe, register, access and manage applications and services
  • An Identity and Access Management component as a single and uniform security layer to access the portal, business applications and services, by providing authentication (e.g. single sign-on), authorisation, registration and non-repudiation.
  • An Application Programmable Interface (API) engine to offer a standardised way to use or consume applications and services. In addition, this will enable customers and third-party developers to create new or to enrich existing applications and services.

Hyper-Economics - Innotribe Space

This session will focus on the major cultural tectonic shifts that are underpinning and driving the hyper-connected economy and are the understream of deep organizational changes. We are witnessing the birth of new economies based on hyper-connected organizations, exposure of core competence through APIs, horizontal sourcing versus vertical integration,  Peer-To-Peer (P2P) sharing of dataOpen Source developments, and activated humans that act from their true selves and lead into a new practice for value creation

Already confirmed:

  • Corina Mihalache, Director Business Analysis, Allevo
  • Mark Pesce, Founder, FutureStreet
  • Michel Bauwens, Founder , P2P Foundation

The Future of Organizations Innotribe Space

We live in a hyper-connected world. The speed of change is increasing exponentially. Information has become abundant, versus scarce in the past, and change is happening in real-time. It affects the way we think; some claim it affects our brain to be able to deal with these profound changes we need to rethink the body and soul of our organizations.

What does this mean for our organizations? What is the impact on organizational structure, hierarchies, team-forming and disbanding? What sort of skill and mindset will our next generation of knowledge workers require? What does it mean to let people take real personal leadership, and create viral change from within? The future of Organisation is a brand new Innotribe session, building upon the success of last year’s Corporate Culture session.

Already confirmed:

  • Guibert Englebienne, CTO, Globant.com
  • Jennifer Sertl, Founder and Author, Agility 3R
  • M.J. Petroni, Principal, Causeit.org
  • Mark Dowds, Investor, Trov.com
  • Dave Gray, SVP Strategy, Dachis Group (via video)

Next Bank Asia: Banking meets Design - Innotribe Space

Next Bank Asia was one of the best financial services events the Innotribe team attended in 2012. The mix of fringe players, entrepreneurs with new business models, designers, and anthropologists resulted in a raving 2 day event tuned for Asia. A guest slot for Next Bank Asia will be held in the Innotribe Space, where bankers meet designers in 4-5 short talks.

Already confirmed:

  • Rob Findlay, CEO, Next Bank Asia and curator for this session
  • Arvind Singh, Founder/CEO, Aleph Labs
  • Toby Johnston, Partner/Creative Director, Shift Partners
  • Tim Kobe, Founder, EightInc

The Future of Big and Small Data - Innotribe Space

In this brand new Innotribe session, we will take you on a fantastic rollercoaster journey on the future of data. We’ll start where we ended last year on Big Data, and will dive into Artificial Intelligence, Augmented Reality, and Wars of Algorithms. It’s not only about Big Data, but also about the massive amount of small data generated by sensors and self-tracking devices. We will question how we can do real-time analysis on this ever-growing and ever-faster moving data stream.

Already confirmed:

  • Sean Gourley, CTO, Quid
  • Amir Halfon, CTO for Financial Services , MarkLogic
  • Anant Jhingran, VP, Data, Apigee
  • Alexander D. Wissner-Gross, Institute Fellow, Harvard University Institute
  • Daniel Erasmus, Owner, The Digital Thinking Network and CEO NewsConsole
  • Andrew Keen, Author, TechcrunchTV

Digital Asset Grid - Conference Room-3

Artwork by Kosta Peric

The Digital Asset Grid is one of the most forward-looking of Innotribe’s incubation projects. In this session, we will present the results of the prototype, including a business story, a compelling video, real applications and a prototype back-end infrastructure. We will bring about an in-depth conversation with some of the world’s leaders on privacy and digital footprint, followed by an interactive discussion with the audience too.

Already confirmed:

  • Liz Brandt, CEO, Ctrl-Shift
  • Andrew Keen, Author, TechcrunchTV
  • Matthias Kroener, CEO, Fidor Bank
  • Alan Mitchell, Strategist, Ctrl-Shift
  • Drummond Reed, Founder, Connect.me
  • Phil Windley, Founder and CTO, Kynetx
  • Mark Dowds, Investor, Trov.com
  • Julius Akinyemi, MIT Media Lab and Wealth Of Nations

The Future of Doing Good (Banks for a Better World) - Innotribe Space

Is “Doing Good” more than Corporate Social Responsibility? Is “Doing Good” good for Business?

This Innotribe session will look at new ethical, sustainable and social responsible products, services and practices and how they represent great opportunities both for our industry and society. The focus will be on “Banks for a Better World”, our latest Innotribe initiative focusing on 3 mains streams: financial inclusion, collaborative social engagement and interconnecting infrastructure(s) between the mainstream financial industry and the alternative banking industry and its beneficiaries, such as social entrepreneurs and unbanked. This session will also include the Social Finance Innovation Challenge in association with Ashoka.

Already confirmed:

  • Julius O. Akinyemi, Entrepreneur-In-Residence, Massachusetts Institute of Technology
  • Kartik Kaushik, Managing Director, Global Head of Business Development, Citi
  • Carolyn Stephens, Professor (PhD, FFPH, IFRSM) , Universidad Nacional de Tucuman/UCL
  • Prof. Muhammad Yunus, Chairman, Yunus Centre

Innotribe Startup Challenge 2012 – Grand Finale - Innotribe Space

The Innotribe Startup Challenge 2012 introduces the world’s most promising FinTech and financial services start-ups to the global community of financial institutions, venture capitalists, angels and influencers actively investing in innovation.

Sibos will host the Grande Finale of the 2012 Challenge following regional showcases in the Americas, EMEA and APAC. From a total of more than 500 candidates, the 15 very best start-ups of 2012 will compete in front of a live audience and professional judge panel for a cash price of 50,000 USD.

Innotribe publication by Informilo

Informilo is the official media partner of Innotribe, is publishing an independent 16 to 20 page print report at Sibos entitled:

“The Networked Economy:

How Technology

Will Radically Transform Banks

and the Future of Money”

The glossy print publication is being overseen by Jennifer L. Schenker, a journalist with 30 years experience who has worked full-time, at various points in her career, for the Wall Street Journal Europe, Time Magazine, International Herald Tribune, Red Herring and BusinessWeek.

The magazine will use first-rate independent journalists who have worked at some of the world’s most prominent newspapers and magazines.  The publication will put business and technological developments in context, explaining how everything from mobile money to cloud computing will forever change the world of banking.

The outline of the publication is as follows:

  • Digital Asset Grid: How banks might play a key role on securing and disseminating personal data
  • Future of Money
  • Hypereconomics and P2P: how the evolution of data is changing business
  • API’s: opening the way for new services
  • Top-25: the hottest start-ups in the financial space
  • Mobile money, commerce and transfer
  • Banks for a better world

A range of opportunities are available for sponsors wishing to effectively reach and influence potential clients in this targeted publication. Contact jennifer@informilo.com

Conclusion

Innotribe at Sibos 2012 will rock! Make sure to bring your energy pills!

Innotribe is about being infected

by irresistible contagious enthusiasm

of open-minded, curious

and passionate people

You can follow the progress of our program as speaker announcements continue between now and October on the Sibos website. Many more speakers and inspirational thought leaders will get confirmed in the coming weeks. Follow our daily tweets at http://twitter.com/innotribe or regularly check-out the Sibos website where we have grouped all sessions that are related to Innotribe at Sibos: www.sibos.com/conferencedata/pages/topic_innovation.page

We look forward

to seeing you in Osaka!

By @petervan from the Innotribe team

Cross-Posted on Petervan’s Personal Blog

www.sibos.com/conferencedata/pages/topic_innovation.page

www.innotribe.com

Twitter: @innotribe and @petervan

MyStandards sailed away from the NYC harbor. Godspeed.

15 May

We had a great launch event of MyStandards yesterday in SWIFT’s NYC office. Lots of people turned up (I think about 80) from pilots, press, user group, banks and some brokers. The event was very Innotribe, put together by Chantal Vanes and Diane Mazzitelli. The basic pitch was MyStandards = the first product out of the Innotribe incubator. Heather (@heathervescent) even found back the castle and sandbox props for my intro speech!! :-)

Juliette Kennel, Head of Standards at SWIFT, attributed the success very strongly to Innotribe’s support. Marc Delbaere, “the guy with the idea”, the mastermind behind MyStandards, was beaming.

VIdeos from Innotribe productions (Dominik De Buyser @ddebuyser and Kevin Johnson) were shown and very appreciated. I saw many surprised eyes (checked afterwards – positively surprised!! :-) ). The igniter and moderator was Luis Solis (@viralchanger) from Imaginatik. Excellent speaker, entertaining and engaging. We even had an announce from the ECB that they were purchasing a license to publish the T2S market practices.

Here is a visual summary of the panel.

I loved this quote by Siegfried Vonderau, Deutsche Bundesbank, one of the pilots: “I have my music, contacts and pictures on my iPad. Now I have MyStandards”.

The 3Ps of innovation (patience, perseverance, passion) paid off. MyStandards sailed away from the NYC harbour. Godspeed.

Kosta

 
Creative Commons License
This work by Kosta Peric is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

A shot of Innotribe

9 May

We had a number of requests recently about Innotribe – what, who, why, where, when?

I compiled the following links – a condensed reading that helps answering these questions. Sharing it here.

- Innotribe 101

- the incubator castle and sandbox story

Enjoy,
Kosta

Innotribe flight 876 Bangkok-Future landed ahead of schedule

1 May

Our Innotribe flight 876 from Bangkok to the hyper-connected future landed on schedule on 27 April at 17:30pm local time. It was quite a flight with lots of turbulences.

It was one of the first times that we designed an event with a metaphor end-to-end. Our metaphor was that of a flight. We had some nice gimmicks like a boarding pass, seats lined up like in an aircraft, security video and seat pocket flyer.

But more importantly, we made sure we took our passengers on a journey, from check-in, taxiing, takeoff, cruising altitude, approach landing: building up the content slice by slice, and not slide by slide.

We had expected more people to attend the Innotribe 2-day flight. And we tested the agility and adaptability of our team to deal with this by making in-flight changes to the program. We scaled down day-1 to a “private jet” flight, and day-2 into a new format “Innotribe Unplugged”. I made a separate blog post some days ago on how our team is exploring the limits.

With hindsight, I believe we touched this way on some of the “irreducibles” of Innotribe events.

  • I believe “intimacy” is our real secret sauce. That’s why we created the Innotribe space as a no-tie zone
  • Create immersive learning experiences
  • Our ability to create tribes and groupies, whatever size of the audience, and the qualities of our team, as Mark Pesce described them in a kudos mail:

“It was wonderful working with people so passionate, intelligent, driven and creative.  We covered a huge amount of territory in two days – a round the world tour.”

The lack of attendees was made good by a genius move by Matteo to convince the Asian Banker Summit organization to run their closing session in our Innotribe space.

If you cannot bring innotribe to the plenary, bring the plenary to innotribe

It felt like a complete take-over of the Asian Banker Summit, and to take some perspective here – if I listen to the words of Emmanuel Daniel – the Asian Banker Summit will never be the same again. We are with Innotribe Bangkok where we were with Innotribe at Sibos in Hong-Kong 3 years ago. Everybody knows how the Innotribe-way has made in-roads and impact on the overall Sibos event. Expect something similar with Asian Banker Summit in the next 3 years.

Disruptions:

William Saito gave us his insights in Innovation in Asia. I specifically liked his distinction between “incremental” innovation and “entrepreneurial” innovation, where the latter addresses NEW markets.

This nicely dovetails with my “levels of disruption” of my TEDxNewWallStreet talk of 11 March 2012. That talk is now on-line on YouTube. I was supposed to give a tailored version of this talk in Bangkok, but we decided to drop it as part of the in-flight changes.

The biggest disruption over these 2 days was witnessing the end of highly vertical (financial or other) organizations and the emergence of a new type of organization where horizontal sourcing of point functionalities – exposed through APIs – becomes the norm.

The following slide out of Petervan’s API presentation should scare the hell out of bankers.

As most of my readers know, the original version of this slide (I saw a version already 2 years ago) comes from Sean Park from Anthemis Group, who did a great “Re-inventing Finance” presentation (Feb 23, 2012) on this specific subject during the LIFT#12 conference this year in Geneva. The slide above is part of that talk, and has evolved a lot since. Recommended viewing!

We are all nodes in a grid

Hidden, as another metaphor in the whole Bangkok program was the comparison between the cells, synapses and electric signals in the brain, and the entities, functions and API’s in a value chain/ecosystem. I have written about this recently in “The Programmable Me: we are all nodes in the grid”

In Bangkok, our flight plan took us first through some basic concepts of this topology, and gradually added evolution of message types (request/response and event signals), identity of the entities in the graph, the choreography/dance of the nodes, collaboration and expression and finally cultural differences and appreciations.

One specific theme was on visibility, by Eiji Hagiwara from Mitsui & Co, himself a proficient airplane and helicopter pilot. He used airplane navigation systems as a metaphor for visibility in value chains.

Our ad-hoc McKinsey consultant Luc Meurant, added additional perspectives from corporates in the financial corporate to bank value chain:

In addition to visibility, what corporates are looking for are predictability, action, and independence

It suddenly became clear to me we are witnessing the birth of a fractal value system, almost layered but probably more like a Spiral Dynamics construct.

The “zooms” into the fractal are different layers of human and agent organization such as individuals, teams, tribes, companies, and ecosystems. It’s similar to the Second Economy of Brian Arthur, but where Brian Arthur focuses on the machine artifacts underlying the real economy, I am trying to point at the human artifacts and levels of organizations.

The consultant matrix

As we were preparing the event and the input for our scribers, I hit by accident on what I would call a typical two-dimensional consultant matrix:

On the horizontal axe, we have the elements that are subject of measurement, almost the fractal levels of the previous paragraph: organization as a whole, inward-looking and outward looking. Inward to people, teams and internal processes. Outward to external nodes (customers, suppliers, developers, etc) and external processes and value chains. (Although I feel “Chain” is too much of a flat-landers word, too two-dimensional)

On the vertical axis, we have the dimensions of measurement or the KPIs. During the Bangkok session, we saw emerging:

  • The 7 key KPI’s for assessing the readiness of organizations for the hyper-connected future/reality
    • Situational awareness
    • Reputation
    • Customer satisfaction
    • Adoption rate
    • Openness
    • Connectedness
    • Q-curve about asking enough and relevant questions
  • There are many other possible KPIs: Idea generation, Fitness and Vitality, Autonomy, Agility, Resilience to adapt, Responsiveness, Tolerance, REducing/INTROducing frictions, Openness, Autonomy, Visibility, Connectedness, Enablement of competitors, Density of your eco-system, Sensing, and Purposefulness.

Taxi drivers are the smartest people on earth

The whole discussion of hyper-connected companies, and especially the story of Uber taxi, made me reflect deeply on the role of the old taxi company as a dispatching service.

The dispatching role itself was in essence the friction in the system, and the dispatching service became completely obsolete when the nodes (in this case taxi drivers and their customers) started talking to each other via API’s (in this was built into iPhone apps).

Every company should assess whether it is reducing frictions, or whether it is introducing frictions. This friction (less)-rule not only applies to organizations and functions but also to people and events.

But be aware, there are some “irreducible” frictions. Mark Pesce identifies 6 of them, all starting with a “T”. Here is how Mark Pesce describes the 6 “Ts”:

No matter how ‘smooth’ and frictionless hyper-connected commerce becomes, certain frictions in the business world will persist.  These represent both speed humps and opportunities.  The businesses of the 21st century will find leverage and differentiation by identifying and exploiting them.

 

  1. Time - If it were done when it were done, twere well done quickly;
  2. Territory - you can’t be everywhere at once;
  3. Talent - some people are naturally better at it than others;
  4. Trust - is rarely immediately conferred, instead growing from a continuing relationship, and must exist for commerce to succeed;
  5. Tongue - language barriers persist until we all speak Globish.
  6. Tension – frictions in teams between humans

Identity

I have already spent significant time on my blog on the topic of digital identity and digital assets. Check-out my post on “The programmable me: we are all nodes in the grid”.

In Bangkok, we started the journey from SWIFT’s recent 3SKey offering, and through a choreography and theater play, we illustrated how 3SKey solved the friction of multiple tokens, but does not solve the friction that customer and personal data information is being kept locked in silos.

We moved on to the concepts of the Digital Spectrum and the Digital Asset Grid. And we had an exercise for the Innotribe participants to identity frictions solved/unsolved and opportunities for financial institutions in this data services space.

Artwork by Kosta Peric (@copernicc)

I am very grateful for the feedback:

  • Answering the question of frictions and opportunities is difficult, if not impossible without the context of a use case
  • There is a key role for SWIFT standardization in the semantics of digital assets to be exchanged
  • The Digital Asset Grid is like oil on fire. Once the API’s of the infrastructure are opened-up, there will be a wildfire or data services popping up, offered by banks ànd competitors of banks.

But there is no way back. The only way to be agile in this hyper-connected future is to choose radically for 100% openness, leveraging the skills of the crowd-sourced community, and opening up even to competitors. Exactly like Amazon did: they have made their infrastructure indispensible for the operation of the Internet. When Amazon went down last year, it became clear that 40% of Internet services were running from AWS.

The concept of the programmable me is just a start. We are clearly evolving into a world where all entities are recording ànd sharing everything of what is going on.

I case you need to be convinced, have a look at some of the latest developments:

Placeme, built by Alohar Mobile, simply records everything in the background. Robert Scobleizer recently posted this 32-minute video with Alohar Mobile’s founder, Sam Liang, to get a complete description of the app. I recommend watching the entire conversation, but if you skip to the 2:40 mark, you’ll see Liang show you where he’s been and what he’s done for the past day, as captured automatically by Placeme.

Or check-out this short video from MIT project P.A.U.S.E.S. , where portable computing is now ubiquitous, and has been a key factor in fueling the explosion of social networking. These guys are exploring the projecting a better version of ourselves through edited sharing of our lives.

Don’t be surprised to see more and more of the “tricorder” functionality coming up in next versions of Siri on Apple iPhone 6 later this year.

It is clear that for this short of sharing of digital assets and footprints or even better “footstreams”, there will be a need for a Trust Framework, and some level of standardization of the semantic in this space.

If you are interested in more on this topic, follow my curation on Scoop.it

Organizational Fitness and Vitality

Just when everybody more or less got it that we are talking here about a real-time sharing of signals between all sort of nodes in the grid through APIs etc, we injected a first turbulence into our flight.

Guibert Englebienne did a fascinating talk/ignition on Corporate Fitness, focusing on the body of the organization. Guibert talked about the corporate fitness of Globant.com and the their clients, and as the day progressed with discussing the KPI’s, I wondered how much of these internal measurements Guibert would be ready to share with his customers and other stakeholders. We also had some interesting thoughts on what companies would have the guts to publish a real-time leadership satisfaction index based on the crowd-sourced results of assessments by staff. That would be quite some innovative form of transparency!

Artwork by Kosta Peric (@copernicc)

Jennifer Sertl is all about corporate “soul”, the mind-complement of the body. Jennifer inspired us all with the 3 R’s of Agility: Resilience, Responsiveness and reflection.

It became clear for me that the 3 R’s both play at company and individual level. Jennifer wrote a book about it, where she explains that the real magic happens when the individual and company value prisms are aligned. But these are fairly abstract concepts, and to ensure that all participants internalized these through an immersive learning experience, we let them play casino-game, letting everybody fill in their own cultural meaning of the words resilience, responsiveness and reflection.

Collaboration

As a well-oiled tandem (they just met a couple of hours before); Dan Marovitz and Matt McDougall looked into the history of communication and collaboration.

Dan asked the question how it comes those true digital knowledge providers like consultancies are still struggling with offering their deliverables in a full virtual way. There is a need for an integrated enterprise collaboration suite composed of  directory serviced, scheduling, messaging, payments, workflow, Analytics, Search and Communication

And Matt McDougall mind-boggled us with his 8 connectors:

Note here again the connected nodes in a grid ;-)

  • Shared values (peace, equality, liberty,… )
  • Shared roots (religion, ethnicity, language, citizenship,…)
  • Shared fights (politics, environment, wildlife, …)
  • Shared Interest and benefits (wealth, power, information, notoriety,…)
  • Shared Lifestyle (fashion, housing, restaurants, vacation, …)
  • Shared Hobbies (sports, arts, gaming, collecting, travelling, …)
  • Shared Access (sites, platforms, devices,…)
  • Shared Preferences (food, drinks, cars, music, clothing,…)

In perspective

With hindsight of the Innotribe Bangkok event, I would like to offer the following perspectives:

  • We are witnessing 3 parallel revolutions: hyper-connectivity, openness through APIs, and the advent of P2P vs hierarchical organizations
  • The hyper-connected future is huge challenge for the financial industry, and there is little chance that the incumbents win the race
  • The Asian Banker Summit will be different the next years: the seeding has happened and there is no way back
  • The real problem: only 5 out of 250 bank-attendees are in contact with the start-up community: the Innotribe startup challenge helps to close gap

Outlook to Innotribe@Sibos, Osaka, 29 Oct – 1 Nov 2012

I have a dream: I would like to see an Innotribe opening session at Sibos with William, Sean, Mark, Guibert on the tatami.

I am looking forward to the grand-finale of that Start-Up Challenge in Osaka. In Bangkok we had the opportunity to see the pitches of the winning candidates from the APAC competition just a couple of days before on 24 April 2012 in Singapore.

Wrapping up this blog post

In case you were wondering what the flight number 876 is all about: 8 connectors, 7 KPIs, 6 irreducibles.

The next Innotribe flights are:

  • SWIFT African Regional Conference 2012 Kampala, Uganda: 8-10 May. Here we are part of a classic SWIFT regional conference. Matteo and Martine will be there with one Innovation plenary, and two Innotribe Labs, one on Remittances, and one on Mobile Payments.
  • The Age of the Empowered Customer, Sydney: 8 May. This is a small-scale event for 40 people, invitation only, organized together with Microsoft Australia.
  • Innotribe@Belfast on 13-14 June 2012: this is a full-blown Innotribe event like Innotribe Belfast. We already received the first registrations.
  • For other Innotribe events, check-out our Innotribe events page

Acknowledgments

Innotribe Bangkok would not have been possible without the help of the Asian Banker Summer, our APAC colleagues and the full Innotribe team. Special kudos to the Innotribe design team with Mela, Martine, and Dominik

By @petervan from the Innotribe team (cross-posted on Petervan’s personal blog)

Innotribe Sydney: 8 May 2012

19 Apr

After our busy Asian week with our Innotribe Start-Up Challenge 2012 in Singapore, and the Innotribe event for Corporates in Bangkok,  SWIFT and Microsoft are bringing Innotribe to Australia for the first time, with a half-day event built around an energizing mix of new perspectives and provocative thoughts.

Through a series of deep conservations ignited by influential thinkers, participants will be able to learn from each others’ opinions, ideas and perspectives.

Innovation in Australia’s financial industry is a hot topic in 2012, with much of the focus on innovation in the payments system itself. But what of the relationship between banks and their customers?

What about the proliferation of connected, aware mobile devices?  What about the rise of trusted social networks and the consumerisation of IT? Are we living in the age of the customer? What does the emergence of a new generation of banks, virtual currencies and digital wallets mean for the future of money? How can we leverage digital identity, your digital footprint and a digital asset grid to empower consumers? How will businesses capture this potential and survive the dramatic business model shifts they will likely experience as this future becomes a reality?

The Age of the Empowered Customer brings together the best and brightest thinkers to ignite those conversations:

  • Marcus Barber, Strategic Futurist and Value Systems Specialist
  • Andrew Davis, Global Head of e-Channels Strategy and Innovation for GTB, HSBC
  • Andrew Rechtman, Director of Product, New Business and Strategy, Paypal Australia
  • Stephen Wilson, Digital Identity Innovator and Thought Leader, Lockstep Technologies
  • Peter Vanderauwera, Innovation Leader, SWIFT

This event is a small-scale event for 30-50 participants max. Invitations are sent out on a one-on-one basis. If you would be interested to attend, please contact contact James.Bibby@microsoft.com or peter.vanderauwera@swift.com

Our tentative agenda looks as follows:

Tuesday 08 May 2012

 

09:00 – 09:15 Arrival and registration
09:15 – 09:30 Welcome
09:30 – 10:30 Innovation provocationsSubthemes:  the emerging collapse of paper currencies, levels of disruption and financial services.
10:30 – 11:00 Coffee break
11:00 – 12:00 The empowered customerSubthemes:  Digital Identity, Digital Footprint, Digital Asset Grid
12:00 – 13:00 Future of moneySubthemes: Digital Wallets, Virtual Currencies, New Generations Banks
13:00 – 14:00 Lunch

Innotribe Sydney will be held on 8 May 2012 in the Microsoft offices, 1 Epping Road,  North Ryde NSW 2113, Australia (Sydney). Looking forward to meet some of our Aussie tribe members in real life.

@petervan from the Innotribe team. Cross posted on Petervan’s personal blog.

Innovation shows results – the 3 babies from the Innotribe incubator

10 Apr

As you are reading this blog, you probably know about Innotribe.

Just in case, here a link for a quick overview. In a nutshell, Innotribe is SWIFT’s initiative to enable collaborative innovation in the financial community, and within SWIFT itself.

Since the three and a half years of its inception, the visible part of Innotribe has been on the front-end of the innovation process: the community and the network, the ideation events such as Innotribe@Sibos and Innotribe@Mumbai, the experimental approach.

With our fresh, open, friendly and neutral approach, we have moved the needle in the financial industry and Innotribe has become a brand enabling the financial industry and SWIFT to “have a seat at the innovators table” (an expression I like to use occasionally). There are nice success stories of how we have gathered innovators and generated lots of ideas.

Yet, people sometimes say: after all the dust has settled, where are the new initiatives, products and services that are coming from Innotribe?

It is a very significant and valid question – what is the value of innovation? What is the value of the brand? What is the value of my 10 strong Innotribe team at SWIFT? What’s in it for the financial industry?

I’d like to share three success stories to answer these questions and illustrate the value of Innotribe.

Before I share the stories, let me quickly explain (or remind you, dear frequent reader ;-)) how Innotribe works.

I call it “the castle and the sandbox”.

If you want innovation, it is necessary to make “space” for it. Compared to your core business – the “castle” – you need to create a space for experimentation (and yes, failure) – the “sandbox”. More on this in my previous post here.

With Innotribe, we have established the Innotribe incubator as the “sandbox”. The incubator is a physical place, a fund, a process, a governance framework, and a legal framework.   And – last but not least – the people engaging in innovation.

The Innotribe incubator is the financial industry sandbox.

Right now there are 6 projects in the Innotribe incubator. But what is most interesting is that, since it creation in January 2011, the incubator has produced 3 successful concepts which have been adopted and, for some, put in production and right now generating new revenue!

Now we’re talking business. New products, New clients, New revenues.

The 3 concepts are: MyStandards, the Startup Challenges and the EBAM Central Utility.

Innotribe MyStandards

MyStandards is collaborative web-based platform that allows for efficient management of standards and market practices across the industry.

The innovation lies in the radical change in how SWIFTs standards releases are designed and distributed. The basic idea is to apply social media tools and techniques, resulting in faster and more collaborative processes.

Another innovation is the business model of this product – a “freemium” model where the basic functions are free, and value-added components are priced when used.

Yet another innovation was also the way the project team was formed – through a SWIFT internal recruitment fair, where the opportunity was given to all developers at SWIFT to participate.

MyStandards is now a new SWIFT product, to be launched officially early May in New York and London. It has already generated several sales even before the formal launch.

Here is a link to a more detailed project profile.

Innotribe Start-Up Challenges

This is a program that aims to bridge the gap between large financial institutions and early stage (or first round) financial industry related start-ups.

Related to this, the goal is also to build an eco-system where venture capitalists, entrepreneurs, banks and start-up can explore new opportunities.

As you can see, this is not about a new SWIFT or banking product, but about an innovation to save costs by providing to financial institutions a quality selection of startups. Some institutions don’t do such searches at all – this program does it for them.  Some institutions do search the startup eco-system, at great cost  – this program reduces that cost.

Outside of these benefits, we have enabled the forming of this eco-system with the gracious help of our sponsors, so the challenges  pay for themselves.

After a successful pilot in Sibos Toronto,  we feature in 2012 three regional events (NYC – already behind us and highly successful, Singapore in April and Belfast in June) and a global final event at Innotribe@Sibos Osaka. See innotribe.com for more info.

Here is a link to a more detailed project profile.

Innotribe EBAM Hub

The Electronic Bank Account Management Central Utility (EBAM-CU) aims to provide an automated, multi-bank and multi-region solution to corporates managing multiple accounts in multiple banks.

The first innovation features a central utility operated by SWIFT, in a space where SWIFT does not traditionally operate.  The second innovation is in the way the product was built, in a tight co-operation with an existing player. And the third innovation, at least in this space, is the co-creation development model with tight integration with the potential users. It is expected that the operating model will be some form of co-investment with these users.

The product is in the final stages of approval by the SWIFT board.

Here is a link to a more detailed project profile.

—-

There you go, our 3 babies! We in the team love them. But certainly not as much as the people that made them happen, at SWIFT and in the community.

Many thanks to these innovators.

And there’s a lot more in the incubator now, stay tuned. As soon as I gather some breath, i’ll blog about these as well!

Kosta

(cross posted on Kosta Peric’s blog at copernicc.wordpress.com)

Innovation at the SWIFT Business Forum London

4 Apr

Innotribe helped put together a session at the Swift London Business Forum. Please join us to hear fellow Innotribers talk about the Future of Money and explore the evolution of banking.

The Future of Money

  • Bruce Cahan, Chief Executive Officer, GoodBank
  • Kevin Coles, Specialist Payments Advisor, Transaction Banking, Lloyds Banking Group
  • Udayan Goyal, Founder and Managing Partner, Anthemis
  • Matthias Kroener, Chief Executive Officer, Fidor Bank
  • Andrew Carrier, Deputy Managing Director, Cognito EMEA (moderator)

Click here for details and to register

See you on 25 April 2012 at the Brewery on Chiswell Street (London EC1Y 4SD).

Innotribe 101

25 Mar

The team often gets a question like this – “I’m intrigued by the word Innotribe in your title. Sounds exciting! Can you please explain what you do?”

So here goes – the Innotribe 101 in the form of a Q&A.

What is SWIFT’s Innovation Program and strategy? How has it been built?

Innotribe is SWIFT’s initiative to enable collaborative innovation.

Innotribe enables innovation at SWIFT and in the financial industry of which SWIFT is an integral part.

At SWIFT, we started in 2009 by organizing Innovation Challenges – events where  anybody working for SWIFT can put forward ideas. The prize of the challenges is for the winning team to implement their idea. Since then, the innovation challenges and other tools have become part of the tradition at SWIFT. The innovation challenges are appreciated by staff – we typically see about 25% of the staff contributing.

In the financial community, we started at Sibos Hong Kong in 2009 by organizing the first Innotribe@Sibos- a highly interactive event where the delegates of Sibos could get inspired by industry experts and engage in ideation activities. The event culminated in an innovation award for the best idea, which was subsequently funded with a 50,000 EUR prize. Since then, Innotribe@Sibos has become a permanent feature of Sibos (more than 2,000 visitors in 2011). We have also diversified our events outside of SIbos – for example the highly successful Innotribe@Mumbai event in 2011 centered on “connecting the unbanked”.

In 2011, the Innotribe program was enhanced with an incubator – a resource for the financial industry and SWIFT to help experiment in the implementation of the ideas generated at our events. In 2011, the incubator has produced several new concepts – such as MyStandards and the EBAM Hub – which will become mainstream product and services in 2012.

Also introduced in 2011, the  startup challenge events provide a platform where banks and financial institutions can meet the startup community. The startup companies highly value this opportunity to get in touch with the financial world, while the financial institutions highly appreciate a quality selection of startup companies to potentially invest in.

Innotribe values are – neutrality, authenticity, simplicity and passion. This is reflected in many of our events – see the innotribe.wordpress.com blog for videos and summaries. The team at SWIFT behind Innotribe is composed of 11 people, covering a wide range of skills – event design, facilitation and curation, business and technology expertise, program management, marketing. Above all, Innotribe is a network – you can easily assess the extent of it by checking out team members LinkedIn, Facebook and Twitter profiles.
How can Innovation help the community to face the challenges of the industry?

Innotribe is a forum to discuss issues and trends that are important for the community from the technology, economy and social aspects.

We bring “Igniters” (recognized experts and though leaders) in touch with the financial community, to understand, discuss and design the short, medium and long term responses to emerging trends such as -

- digital identity

- cloud computing

- social data and media

- business intelligence and analytics

- mobile payments

- alternative and virtual currencies

- new economies

- new organizational modes

- the hyper-connected generation of people

- social entrepreneurship support

Innotribe helps people to understand what is happening and formulate a response.

What are SWIFT’s priorities in terms of Innovation? What are the big challenges for 2012-2013?

We are looking to manage a portfolio of innovative projects -

- incremental innovation: develop new products and services that SWIFT can provide to the community – such as the MyStandards product going live in April 2012 (collaborative tool for designing standard business practices), the EBAM Hub product (singe window multi-bankk electronic bank account management service for corporate clients.

- new business model innovation: incubate the idea for a  SWIFT provided “financial app store” in support of the financial community – where banks, third parties and SWIFT can provide application services to the 10,000+ strong community connected to SWIFTNet

- disruptive innovation: the “digital asset grid”, a concept where banks would evolve their services to provide digital asset management products in addition to money and fund management.

What is the objective of “The Innovation Sandbox” and how does it work?

The problem in many established companies is that it is difficult to innovate as the main focus is often on optimization of processes and cost reduction. So it is very difficult for people in such organizations to experiment new ideas (which often may fail). The “innovation sandbox”, such as Innotribe’s incubator, is a place where a company sets aside resources (time, money, location, legal and brand protection) to enable the entrepreneurs in the organization to explore their ideas in a “safe” environment. Safe means that the sandbox is isolated so that failures do not affect the main company brand, reputation, and core products and business. In the case of the SWIFT Incubator, we manage yearly 6 to 8 projects, each extending from 6 to 12 months duration and from 200,000 to 1,000,000 EUR funding.

What are the keys of success to innovate in companies? How can we encourage innovative initiatives/projects within a company?

The key success factor are to -

- embrace ideas, not only from inside your company but also from outside – clients, partners, people at large. This is the “open” innovation concept, one of the cornerstones of Innotribe

- enable the intra/entrepreneurs to try and experiment in a safe environment. This is the “innovation sandbox” concept, such as the Innotribe incubator

- understand and engage with the thought leaders to grasp the deep root causes of the current changing environment. The best opportunity for that is to join us in one of our upcoming Innotribe events – see www.innotribe.com for the scheduled events.

Innotribe Asia: Hyper-connecting the captains of industry

4 Mar

Innotribe, the innovation initiative of SWIFT, will be launching its innovation lab for Asian corporates at the forthcoming Asian Banker Summit to be held in Bangkok from 26-27 April, 2012.

(Drawing by Kosta Peric on iPAD)

The lab is designed for executives and managing directors of Asian companies,  to collectively think through their business strategies and organization in a hyper-connected world.  The lab will bring these companies, your clients, together with you to design new strategies and business models for a new generation of customers.

The two day highly interactive workshop will cover the following topics:

  1. The hyper-connected corporation – understanding the soul of a business tuned for the hyper-connected new generation of customers and employees.
  2. “Hyper economics” – following the money in a hyper-connected value chain
  3. “Organizational hyper vitality” – preparing corporate culture for challenges that a hyper-connected world will bring
  4. Idea generation within your own organization
  5. APIs and how they can open up the core competencies of your business
  6. Friction points in the value chain
  7. Digital identity and digital assets
  8. Presentation of ideas
  9. The future of collaboration – figuring out how the value chain of your business will evolve

The programme promises to be highly interactive with great speakers, innovators, motivators, all contributing to provide a thrilling learning experience that will help you understand the instincts required to get the future of your organization right.

Innotribe events are like no conference you’ve ever attended before. No dull presentations, no strict presenters – instead we guide participants through a process of broadening their outlook, thinking differently and emerging with tangible ideas that they can apply to the future success of their business.

Innotribe –a hyper-collaborative learning lab

The best way to learn how to deal with a hyper-connected world is to learn in a hyper-collaborative community.

Traditional conferences and training courses tend to offer a fairly one-dimensional view of the challenge at hand. Innotribe is an interactive learning experience in which you will be doing a lot of the thinking for yourself. Our facilitators, motivators and ‘thought instigators’ will push you to consider tough questions and look at things from multiple perspectives. One thing is for sure, you’ll emerge from Innotribe having engaged with your fellow participants, acquired a better understanding of your organisation’s decision-making process and generated new ideas you can apply as soon as you return to the office.

Creativity is a journey. Our agenda has been designed based on a flight metaphor: we will simulate a flight to encourage participants to understand and engage in the process of thought development and idea generation.

Just before take-off, the pilot will inform the passengers of what will happen during the flight: the planned route, the weather conditions, the expected turbulences, and that we are in for a bumpy ride. The weather conditions will be influenced by turbulences: digitizationAPI’sthe age of the machines, redefinition of value. There will be a steep take-off, take some time to enjoy and get inspired by the flight, with a pleasant approach and soft landing in foggy weather conditions.

We want to land with one strong idea to take away after the lab: an idea that is ambitious but achievable in the short to medium term.

Our list of instigators includes following thought leaders:

  • Mark Pesce,Founder FutureStreet -  Hypereconomics
  • Guibert Englebienne, CTO Globant.com – Organizational Fitness
  • Jennifer Sertl, Founder Agility3R and Author –Resilience, Responsiveness, Reflection
  • Laura Merling – Senior VP Platform & Strategy, Applications Enablement, Alcatel Lucent – “Rise of the Planet of the APIs”
  • Eiji Hagiwara, Mitzui Corporation – Corporate view
  • Dr Matt McDougall, Founder and CEO, SinoTech Group Bejing – Magic by Numbers: using algorithms & analytics to create Insight and Innovation
  • Dan Marovitz, Buzzumi - hyper-collaboration
  • Speakers from SWIFT include Kosta Peric, Matteo Rizzi, Luc Meurant and yours truly

The 2 days will culminate with the 2 winners of the Innotribe APAC Start-Up competition, that will be held earlier that week on 24 April 2012 in Singapore. This competition is part of our worldwide Innotribe Start-Up competition that started a couple of weeks ago in New-York.

It is still not to late to put forward your candidatures for the Asian start-up competition here. You have to apply before 21 March 2012.

The Asian Banker is managing this event as part of The Asian Banker Summit. All registration should be done directly with them, either through The Asian Banker or our websites or the event website www.theasianbankerforums.com/innotribe  directly.

by @petervan of the Innotribe Team (cross-posted on my Personal Blog)

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