Designing for Co-Creation: 7 Principles & 7 Triggers of an (Open) I... Imagine the future of banking through open innovation… | Innopay. Imagine the future of banking through open innovation… It was in 2009 when PayPal launched the PayPal X platform. This platform provides a software development kit (SDK) with technical documents and API (application programming interface) tools to allow third-party developers to create apps that are based on the PayPal infrastructure. The benefits are great: by opening up to the whole community, potentially a large number of innovations can be created using the PayPal infrastructure but without PayPal having to incur the large costs of development. Indeed, since its launch a large number of new apps have been created such as Twippr, Lottay, Juice.to and many more. Not too long after, MasterCard and Visa followed. And then..? I was lucky to be offered a first look inside the SDK that showed me its current functionality. The current read-only functionality allows for a better presentation of bank account information.
These are just a few examples off the top of my head. Open Innovation in Silicon Valley: Insights from Session with Big Companies. Together with Silicon Valley Bank, I just held an interesting session with a group of senior people from corporate venture units and R&D teams from multinational companies with labs in Silicon Valley. I shared my thoughts and perspectives through this presentation and we also got into some good discussions. In this blog post, I would like to highlight some of the insights and lessons I took away from the session. You need to work in parallel tracks: It is always a big question to which extent a company should open up their innovation efforts. This is a question of resources available (prioritization) as well as making some strategic choices. In this situation, I had a good argument with a person believing that they should not really open up and focus on maintaining and improving their relationships with top VC firms in Silicon Valley.
This makes sense as you really need to focus your efforts. Making it work behind the scenes really matters: Communication is not yet accepted as a key skill: Open Innovation In Financial Services Innovation Summit 2009. List of open innovation and crowdsourcing projects at banks and financial services | In the following article you will find a list of open innovation and crowdsourcing initiatives related to banking and financial services. But this is not just an article. It is a project itself. And you can help developing it. The aim of this article is to create the first complete list in the world of crowdsourcing and open innovation projects in the banking and financial services industry. Australia Commonwealth Bank: IdeaBank is a crowdsourcing project that enables clients to post, vote and discuss ideas on new innovative products and services.
Denmark Danske Idebank: Information on Danske Banks two crowdsourcing initiatives “Idebank” on Facebook can be found at the Visible Banking blog: First Edition and Second Edition NyKredit Saving Tips: Information on NyKredit Banks crowdsourcing initiative “Sparetips” can be found at the Visible Banking blog: NyKredit Saving Tips Germany Italy Russia Singapore South Africa Sweden United Kingdom United States May I ask you for your help once again?