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Capital One Champions Open Innovation in Financial Services With APIs. With over 60 million members, the credit card company is looking to find new ways on how their customers interact with their money. Innovation has been the recent trend in financial services and Capital One has pushed it to the next level with Capital One Labs and the development of their own APIs. According to Paul Sun of Capital One, the company won’t always be able to connect with their customers as they shop, but if other developers find a way then they are invited to be part of the project. Developers that use to the company’s API can offer and deliver personalized deals and coupons to customers – deals that the right customers are looking for.

The company also makes rewards points available for purchases which allow the developers to have a ‘pay with points’ option on their own site or app to attract buyers. Capital One uses OAuth for securing customer data. This system gives other parties access to information like the customer’s rewards balance for 30 minutes. Key Stats. Capital One Champions Open Innovation in Financial Services With APIs. Open Innovation success story: The Great Innovator Challenge. Which solution method fits your innovation model? [LEARN MORE] Breakthrough: The Royal Bank of Canada's open innovation competition yields a novel intranet application designed to transform the workplace. Company: Royal Bank of Canada, Canada The Story: Many companies realized long ago that internal R&D is only one part of their innovation portfolio, and it may not even be the driving force behind research efforts.

Great Innovator Challenge The Royal Bank of Canada has been experimenting with open innovation for a number of years with its Great Innovator Challenge. The 2010 challenge required students to suggest new methods or tactics to transform the workplace so that it can meet the needs of an evolving and diverse workforce. Recognizing that the workforce and nature of work in the financial services industry is changing the bank wanted to learn from people with vastly different experiences whose careers are just beginning. Open Innovation Advantages We Have a Winner Next Story » The Wepad Project: Home. Open Innovation. Open innovation is rooted in the notion that two heads are better than one, and a thousand heads are better than two. The World Bank Institute's (WBI) Open Innovation team is dedicated to providing tools and services that amplify the development conversation, accelerating the identification of ideas and approaches with game-changing potential.

The team creates and manages challenges and competitions that are designed to crowdsource the best thinking and innovative solutions from traditional and non-traditional entities. By providing recognition or cash prize incentives, the team encourages citizens and non-traditional actors to apply their talents and energy to generate breakthrough ideas World Bank Challenge Platform To amplify the World Bank’s ability to crowdsource solutions to development issues, the team has launched a customized web-based platform capable of supporting a variety of competitions and challenges. Apps for Development Innovation Steering Committee. Innovation Bank - Home. Fireball. OPEN INNOVATION STRATEGY AND POLICY GROUP. The Gap – ICT vs Legal Institutions This article takes up the question, how will traditional law-making be challenged in the circumstances of ever-accelerating “Moore’s law”.

It seems that law-makers may have largely missed the nature of internet especially in the early phases of the development. The slow process of law-making seems to lead to increasing application of “choice of law” –strategies, as legal environment is actively chosen by companies operating in the internet. These companies do not experience a necessity to adjust to geographical restraints. The development may also pull the European legal system into the direction of a “common law” –type of a system. OISPG Newsletter No 35, March 2013 In the March's edition of the OISPG Newsletter you will find suggestions for interesting events taking place in Europe, as well as reports from past events which OISPG members had the chance to attend.

Power of Open, by Creative Commons Innovation futures in Europe OISPG Chairman Dr. Dr. Open Living Labs | The First step towards a new Innovation System.