How a Bank’s Innovation Process originated from an internal culture change
Innovation Journey: Engaging the EmployeeAfter a preliminary study, the first challenge was to demonstrate the value of the initiative to collaborators. Focused on their own activities, they were not used to investing in the optimization of processes by means of innovation for two reasons: either they did not feel a part of the process, or when they tried to insert themselves, they would come up against bureaucracy. The main challenge of the project was to insert the mindset of innovation into the collaborators, adding value and enabling the fluidity of the process. To understand how competitors were reacting to the same challenge and which initiatives were being taken, a benchmarking was performed. This study made clear that an innovation journey was needed, a long process divided into stages, which included specific events and tools.
Workshops, Hackathons and Risk Boxes: Creating an Innovation MindsetTo spread the word about the initiative an Innovation Week was implemented, with events, lectures, workshops, courses, hackathons and the distribution of Risk Boxes, boxes with tools (frameworks and supporting material) for the collaborator to develop, by himself, the first steps of his ideas. By the end of the first innovation journey, it was possible to see that the collaborators were more involved in the process, which had an important impact on the strategic interests of the company. The shared knowledge was spread to other levels and sectors of the company, increasing the autonomy of collaborators and making the overall setting of the organization more prone to innovation. The multidisciplinary nature of the collaborators involved in the journey is worth highlighting since it brought insights from different areas into the resolution of common problems. Integrated, the groups were able to think in a collaborative way about new solutions and how to make them viable. The very execution of the journey brought several insights to the team, allowing for the proposal of improvements for the next editions. New communication approaches, digital tools, more assertive financial planning and focus on prototyping were some of the selected points to be refined in future journeys. The project was very well received by the client, who quickly moved so that other sectors of the company could undergo the same process. From the knowledge gathers, collaborators were able to implement their own ideas and help with the development of more assertive internal processes. Amongst the main deliveries of the project, one can highlight:
- Innovation Journey;
- Trend Reports;
- Risk Boxes.