Archive | March, 2012

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.

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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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