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Archive for the ‘Banks’ Category

Many use the term “disruption,” to describe the upheaval we’re seeing in the financial services industry. But I believe we are witnessing a “phase-change”—a deeper transformation of how banking and business in general are done, caused by the fragmentation of everything and an unprecedented and unsurpassed period of evolutionary innovation–what might be called a “Cambrian explosion”.

In the run up to Techonomy 2012, I contributed an article entitled “The Six Ways Organizations Can Survive Until 2100.” Six months later, my essays “Dystopian Futures” and “Drowning In Data, Banks Must Learn To Surf” elaborated on my thinking.

Techonomy 2013

With a couple of weeks from Techonomy 2013, now I think we need to get back to our human sense of analog time.

We see the Net-driven fragmentation of work and hierarchies, even as sovereign states are stealing data and intruding into systems worldwide.  We see the fragmentation of trust, privacy, and secrecy. Our organizations are no longer vertically integrated but fragmented into orchestrators of highly specialized functions, sourced from a diverse group of both incumbents and aggressive newcomers.

We need stories about the humans we try to reach and move—narratives, as John Hagel puts it so well in Edge Perspectives–that have a beginning, middle, and end and convey a clear purpose and call for action and progress.

At the same time, we see an explosion of nodes on the grid, with trillions of “things” joining the digital conversation; an explosion in the volume and types of data. Digital currencies are erupting with decentralized and distributed models. States engage in surveillance and companies deploy what Jaron Lanier calls “Siren Servers”: online powerhouses that betray our trust for profit. In banking, we see the advent of network-only banks, and peer-to-peer money exchange solutions like Paypal’s Cash solution–a simple way to email money between people.

Value is being redefined, and many are rethinking what constitutes real wealth and wellbeing, beyond money and GDP. We have to rethink how we measure wealth. Robert Kennedy said: “GDP measures everything…except that which makes life worthwhile.” Happiness Indicators like Bhutan’s Gross National Happiness, the OECD’s Better Life Index, and the UK’s Happy Planet Index are already helping the world define well-being and wealth beyond money. The H(app)athon Project www.happathon.com wants to go one step further by “hacking happiness,” and shifting the world’s view of value beyond the lens of GDP.

happathon

In the financial industry, “shareholder value” and “profit maximization” remain the main criteria for investment. Nevertheless, new investment trends are emerging as a result of global changes and new ways of thinking. Investors are starting to look for criteria beyond maximizing profit, shareholder value, and pure financial return.

We have to think about what may in fact be intangible assets, along with how to account for them and invest in them. We have to re-assess the role financial markets play or should play, and their future “design principles,” so that over time we can develop more transparency, self-empowerment, and permissive not restrictive organizations.

Recently, Michell Zappa http://envisioning.io/money/ published a fantastic piece of research on “The Future of Money” documenting recent changes accelerating transactions, leveraging crowds, undermining fiat currencies, and explaining how banking is evolving into just a layer, embedded invisibly in many sorts of daily conversations. These phase changes pose fundamental questions about the role and identity of networks, institutions, and individuals.

Zappa’s timeline infographic is illuminating.

Zappa central-decentral-distributed

The phase-change from centralized to decentralized to distributed networks is shifting how power is distributed: from favoring the connected few to an irregular distribution that favors some individuals, and to a horizontal distribution of power that favors the whole of the network.

We seem to live in a  state of perpetual crisis, jumping from one incident to another, with no room to reflect or to assess.  It feels like we are drowning in tactics and ad-hoc firefighting, incapable of interpreting the tsunami of change. The world enters a level of complexity that cannot be addressed anymore by conventional, binary, linear thinking.

With all these parts moving at once, we need new tools for monitoring change. We need new capabilities and more non-linear ways of thinking, and openness to new options. We need new tools to forecast, assess, and guide our choices. They should offer richer ways to express our options through visual thinking and other techniques.

This is way beyond flashy hyper-tech bank branches and “punchy-music-cool-sexy” banking apps or product videos. This is about bringing back the analog humanizing aspect into banking. I am not my device. The future of banking is analog not digital, and its focus needs to be on relationships, intimacy, depth, and human connection.

Cross-posted at Techonomy 2013

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Futurist and past Innotribe member, Heather Schlegel aka @heathervescent, has announced an ambitious project: The Future of Money TV Series. Happy to offer her a guest post on my Petervan blog. We had great times together, and she is worth your attention.
 
While working with Innotribe, Heather created 3 scenario films and 2 documentaries: http://www.youtube.com/user/innotribefilms. Happy to let Heather explain herself what she is up to with this new project:
FoM Heather

Heather: “While working for Innotribe, I was struck by the impact my films had on people. When I showed them at SXSW and other conferences, people would come up to me afterwards and tell me how the visions in my films changed their perspective. Over and over I saw people’s ideas about the future change after watching my films. It’s this response that inspired me to develop a TV series around the future of money.

 

The Future of Money TV Series explores the evolution of money by interviewing experts in financial innovation and showing futuristic reenactments of plausible scenarios based on facts and theories. I developed the TV series to share positive visions with a global audience to increase optimism about the future.

 

An international distributor green lit the project in May and has agreed to distribute the series internationally IF I can raise $35K to shoot the expert interviews. To raise the money, I launched a Kickstarter. I need your support to make it happen. I’ve spent years of love, sweat and tear on this project. Please back it.

 

This is her first Kickstarter and while it’s off to an excellent start – raising $12,000 of her $35,000 goal – your support is critical.

 

Watch the teaser and back the project – any level helps:

http://www.kickstarter.com/projects/heathervescent/future-of-money-tv-series

 

It’s been covered on Laughing Squid: http://laughingsquid.com/future-of-money-a-docu-series-that-explores-the-positive-forces-in-the-evolution-of-money/

 

Breaking Banks: http://www.voiceamerica.com/episode/73153/and-the-next-big-thing-is

 

Houston Futures: http://www.houstonforesight.org/?p=3315

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Here is the third weekly update related to our 5th edition of Innotribe at Sibos in Dubai from 16-19 Sep 2013.

As you probably know by now, we’ve designed our programme like a metro map. Just like the underground or subway, it’s up to you to decide which “track” to follow, depending on your expertise, interests, learning objectives, and availability.

Innotribe_TubeMap-01

In this week’s post, we’d like to walk you through the Big Data Track at Innotribe@Sibos 2013.

Big Data track

Big Data is an industry trend that the Innotribe team has been monitoring for some time now. We had session about Big Data at Innotribe Sibos Toronto in 2011 and Innotribe Sibos Osaka in 2012.

People, businesses and devices are hyper-connected through highly pervasive networks, creating unimaginable amounts of information. What if we could tap into the intelligence and insights buried in these networks to devise better strategies for growth? This new environment will require extraordinary insight and adaptability.

This year, we’ll explore how you and your organization can derive new insights through Network Analytics from all the data that surrounds us.

Toolkit: Planning for Unpredictable Futures

Location: Innotribe Space

Day: Tuesday 17 Sep 2013

Time: 09:30 – 10:30

Another “Toolkit” session: an immersive learning experience to help you internalize the basic principles of scenario thinking in support of better future planning. This session will lead into the Network Insights session later that day.

scenario

Daniel Erasmus – one of the world’s most renowned experts on Scenario Thinking – will give an in-depth introduction to this methodology that helps making better decisions and sense of an unpredictable future.

After the intro, Fabian will relate this back to why this is relevant for our community.

We have designed a practical interactive exercise to familiarize the audience with scenarios of high impact, but low probability; this is all about getting comfortable with uncertainties in business.

Speakers:

  • Daniel Erasmus, Owner, Digital Thinking Network. Daniel brings the unique combination of scenario thinking and big data.
  • Fabian VandenReydt, Head of Securities Markets and Core Business Development at SWIFT

Big Data creates network insights for growth – Part-1 – What is Data?

Location: Innotribe Space

Day: Tuesday 17 Sep 2013

Time: 12:30 – 14:00

This is a highly interactive session, where we will let the audience discover the expanded definitions of what we mean with “data”. We will cover following dimensions:

  • What do we call data?
  • How do we see/visualise data?
  • How do we analyse data, how do we draw conclusions?
  • How do we layer data and apply pattern recognition?

We will close this part-1 highlighting the domains of applicability for our business: Fraud, Risk Management, Growth opportunities, etc. We will then move into part-2 about tools that can help spot us unknown growth opportunities or unknown threats.

Big Data creates network insights for growth – Part-2 – Overview of tools for growth.

Location: Innotribe Space

Day: Tuesday 17 Sep 2013

Time: 14:30 – 16:00

After having set the scene in the two previous sessions (“Planning for Unpredictable Sessions from 09:30 – 10:30am” and “What is Data? From 12:30 – 14:00pm”), we will demonstrate how different analytics and big data tools can be used to identify growth opportunities or unknown threats.

Newsconsole

In a very engaging story telling format, you will see demos, videos, animations and other explorations of the latest state-of-the-art tool for big data analytics and visualization. This is a high-paced session with 7 different showcases.

Speakers for Part-1 and Part-2 are:

  • Neil Bartlett, CTO And Head of Development of Risk Analytics, IBM
  • Daniel Erasmus, Owner, Digital Thinking Network
  • Matthew Gordon, Forward Deployed Engineer, Palantir
  • Walid Jelassi, Transformation Consultant, HP
  • Simon Small, Founding Director, Arria
  • Kimmo Soramaki, Founder & CEO, Financial Network Analytics
  • Michael Warner, CEO, Quantum4D
  • Special commentator: Fabian Vandenreydt

More information about the Innotribe@Sibos 2013 programme can be found in our programme Brochure (PDF flyer), on Sibos.com and of course Innotribe.com. The full Innotribe 2013 speaker list with bios is here.

By @petervan from the Innotribe Team

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As from now, we offer you weekly updates related to our 5th edition of Innotribe at Sibos in Dubai from 16-19 Sep 2013.

As you probably know by now, we’ve designed our programme like a metro map. Just like the underground or subway, it’s up to you to decide which “track” to follow, depending on your expertise, interests, learning objectives, and availability.

Innotribe_TubeMap-01

In this week’s post, we’d like to walk you through the Innovation Track at Innotribe@Sibos 2013.

We’ll move away from the traditional polarizing discussions such as old vs. new, startups vs. incumbents, incremental vs. disruptive, close vs. open, core vs. non-core and we will help you discover the richness of the options in the middle of the extremes and help you identify which model to best apply in your company. All examples will have specific relevance to financial services.

The track will open with disruptions impacting the traditional banking model. We will also offer you some practice sessions about new non-linear ways of thinking to help you succeed in the ever faster changing world. The track continues with a session that offers deep insights into what else is out there beyond open innovation. The track ends on Thursday morning with a selection of “Power Talks” illustrating how new players are already significantly disrupting banking – and not just the fringes of our industry, but already heading for the core with early signs of scale. We’re not talking about the distant future, but what’s happening right now!

Future of Money

Location: Innotribe Space

Day: Monday 16 Sep 2013

Time: 09:30 – 10:30

This session is also part of the Value track.

We had a post about that last week: http://innotribe.com/2013/08/05/the-value-track-explained/ 

Toolkit: Better decision-making through creative techniques

Location: Innotribe Space

Day: Monday 16 Sep 2013

Time: 15:30 – 17:00

Decision-making is “making sense” of things. This raises issues of what criteria we bring to decisions when contexts change. Most of economic history industry has been driven by new developments in sense awareness.

decision making

This context changes are very significant because what digital does is alter decision-contexts. It makes us have to respond to more changes, more often and make more decisions in a more delegated way, against a backdrop of criteria that we are having to capture and describe.

This is a “Toolkit” session: an immersive learning experience to help you internalize the basic principles of creative thinking to help improve judgment and decision-making. The audience will learn to internalize the difference between linear and non-linear decision taking, complemented with practice exercises based on creative decision-making based on colour, word, and sound.

We will setup 3 separate experimentation stations:

  • Art school with Dave
  • Word school with Haydn
  • Music school with Petervan

Speakers

  • Dave Gray, Author, The Connected Company: Dave is world authority in visual thinking
  • Haydn Shaughnessy, Author, The Innovation Lifestyle. Haydn is a deep thinker and expert on innovation.

Toolkit: Planning for Unpredictable Futures

Location: Innotribe Space

Day: Tuesday 17 Sep 2013

Time: 09:30 – 10:30

Another “Toolkit” session: an immersive learning experience to help you internalize the basic principles of scenario thinking in support of better future planning. This session will lead into the Network Insights session later that day. We will detail this session in the upcoming blog post on the Big Data track.

Speaker:

  • Daniel Erasmus, Owner, Digital Thinking Network. Daniel brings the unique combination of scenario thinking and big data.
  • Fabian VandenReydt, Head of Securities Markets and Core Business Development at SWIFT

Toolkit: Thinking in Images

Location: Innotribe Space

Day: Tuesday 17 Sep 2013

Time: 16:30 – 17:30

Visualization is increasingly used in business and science to simplify complexity: a picture is worth a thousand words. Drawing is a natural process for thinking, exploring ideas and learning. Every child enjoys drawing — but at some point in our lives we learn that drawing is the province of artists. We begin to say things like:

  • “I’m no artist”
  • “I can’t draw a straight line”
  • “I can’t draw a stick figure”

This is a fallacy. You can draw, and when you were a kid you knew it. You just forgot. It’s time to remember what it was like to draw as a child — and to rediscover the joy of exploring ideas and learning without boundaries. It’s time to forget that you don’t know how to draw. Play isn’t just for fun. It’s how we learn. You can practice your visual thinking skills and have fun at the same time. Enjoy yourself, and take some new abilities back to work with you.

Visual thinking basics

The room will be set-up like a classroom, with the audience as students. Like a Zen-master with his disciples, Dave Gray – one of the masters in the field of visual thinking – will help his students discover step by step their hidden power of visual expression.

New Innovation Models

Location: Innotribe Space

Day: Wednesday 18 Sep 2013

Time: 09:30 – 10:30

new innovation models

Our speakers will first give you a fascinating overview on what’s new in innovation models: from “castle and sandbox” one way of doing Open Innovation, to incremental innovation, disruptive innovation, narrow innovation, Jugaad innovation, Reverse innovation, Shanzai innovation (copycatting), computational innovation, radical adjacencies, and algorithmic innovation.

After the intro, we offer you two immersive learning experiences:

  • Copycatting feels like a taboo in innovation. What if we could get rid of these taboos, and innovate again like kids? In this exercise we will actually train you to copycat, by copying one of the newcomers in payments space. In the coming days, we will also publish here and on swift.com an op-ed by Jaspar Roos, based on a research he did on copycatting.
  • Crowd-source everything. We will practice how to involve crowds in innovation decision-making: how can a crowd shape a product? How can we crowd-develop, crowd-manage and crowd-design for example. You will be invited to pick one of your existing processes and crowd-source it. Also here, an article based on Haydn’s research on crowd-activities will be published soon.

Speakers

  • Jaspar Roos, Chief Inspiration Officer, ABN AMRO Dialogues FutureIdeas.eu and Ventur.es
  • Haydn Shaughnessy, Author, The Innovation Lifestyle

Powertalks: Best innovations in Fintech

Location: Innotribe Space

Day: Thursday 19 Sep 2013

Time: 09:30 – 10:30

Inspired by TED Power Talks, we have invited some awesome innovators from the financial industry to present real, live innovations, which are in the market and starting to scale. In other words, this is not about Star Trek, but actual innovations, where the “rubber meets the road”.

startrek

  • Patrick Griffin, Head of Business Development of OpenCoin, the organization that first built the Ripple protocol. A Ripple is a unit of the native currency that exists in the Ripple network. The Ripple network is a peer-to-peer payment network. It enables free payments to merchants, consumers and developers, and to send and receive money in dollars, euros, yen or Bitcoin without having to do extra work for foreign exchange transactions and without charge backs. Ripple is also an open source protocol created for anyone to build on top of or use.
  • Kristoffer Lawson, Co-Founder & Chief Evangelist, Holvi. Kris will talk about Holvi’s upcoming European launch and his work as initiator of the Popup Society movement: setting up a company, forming a team and building a product, all within 48 hours. In true popup fashion many of these ideas die immediately, but not all. Some have gone on to become great companies.
  • Jaspar Roos will showcase some of the latest innovations in financial services his teams build over the last year in his different roles as Chief Inspiration Officer, ABN AMRO, Dialogues, FutureIdeas.eu and Ventur.es
  • Manu Sporny, Founder/CEO, Digital Bazaar and Chairman PaySwarm will share what happens if payments get commoditized to the level of the W3C protocol? Manu spends most of his time creating open standards and open technology that will integrate payments into the core architecture of the Web. His vision is to democratize finance, making the financial tools that are only available to large organizations today, available to everyone on the Web.

Closing Plenary Innotribe: “Around the campfire”

Location: Innotribe Space

Day: Thursday 19 Sep 2013

Time: 14:30 – 15:30

campfire

Later in the afternoon on Thursday – at 14:30pm – we will all join the Closing Plenary Innotribe: “Around the campfire”, where we will share the lessons, tools and techniques learned during the week. We are very proud to confirm our two tribal wise men:

  • JP Rangaswami (Chief Scientist of Salesforce.com and direct report of Marc Benioff) and;
  • Andrew Davis (Global Head of e-Commerce Strategy and Innovation, HSBC).

More information about the Innotribe@Sibos 2013 programme can be found in our programme Brochure (PDF flyer), on Sibos.com and of course Innotribe.com. The full Innotribe 2013 speaker list with bios is here.

By @petervan from the Innotribe Team

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As from now, we offer you weekly updates related to our 5th edition of Innotribe at Sibos in Dubai from 16-19 Sep 2013.

As you probably know by now, we’ve designed our programme like a metro map. Just like the underground or subway, it’s up to you to decide which “track” to follow, depending on your expertise, interests, learning objectives, and availability.

Innotribe_TubeMap-01

In this week’s post, we’d like to walk you through the Value Track at Innotribe@Sibos 2013.

 

 

The Value track will explore different aspects of the great value discussion:

  • What is the future model of banking?
  • What is wealth beyond money?
  • Can everything be measured?
  • And are we even measuring the right things?
  • Can we valuate companies based on their intangible assets?
  • How does all this drive happiness and well-being?

Future of Money – Opening Plenary

Location: Innotribe Space

Day: Monday 16 Sep 2013

Time: 09:30 – 10:30

In this session, we will identify how the current model is being disrupted and how the impact on cost and revenues. We will co-create the corporate banking business model of the future, using the Business Model Canvas methodology of Alex Osterwalder.

Innotribe co-founder Mariela Atanassova (Mela) recently posted a great article on this subject on the American Banker blog “BankThink” as part of their series “The Future Model of Banking”.

To guide us, we have invited six awesome speakers, each highlighting one dimension of disruption of the existing corporate to banking model:

  • Scott Bales, Chief Mobile Officer, Moven will focus on Social and Mobile;
  • Dave Gray, Author, The Connected Company will focus on organizational change and how his principles lead to “The Connected Bank”;
  • Hank Uberoi, CEO, Earthport and Dan Marovitz, Founder & CEO, Buzzumi and previously Head of Product Management, Global Transaction Banking at Deutsche Bank will articulate what has changed in infrastructure;
  • Patrick Murck, General Counsel, Bitcoin Foundation will ignite us on transparency and transaction costs;
  • We are in discussions with a major bank, which has experimented with hybrid business models in the Corporate to Banking space.

Two host moderators will guide you through this exercise and will ensure a deep interaction between audience and speakers in an exciting TV Studio type format. One moderator (Udayan Goyal, Partner and Co-Founder of the Anthemis Group) will work the stage; the other moderator (Chris Skinner, Chairman of The Financial Services Club) will work the audience.

Design Thinking

Location: Innotribe Space

Day: Monday 16 Sep 2013

Time: 11:00 – 12:15

This is a “Toolkit” session: an immersive learning experience to help you internalize the basic principles of design thinking with hands-on practical activities. We will practice process step by step the different stages of design-full thinking and apply them to examples from the financial industry:

  • Human observation, particularly using extreme users to inspire idea
  • Looking at a larger context – analogies from other fields; examine interaction touch points
  • Multidisciplinary teams
  • Experimentation, prototyping
  • Engaging others in the process to build enthusiasm for your idea

Speakers: We have invited two world-class experts to guide you through this process:

  • Vince Voron recently joined Dolby Labs as their VP, Executive Creative Director. He has more than 20 years of marketing design experience from two of the world’s most iconic brands: Apple and Coca-Cola. At Apple, he developed and led the human factors and color teams responsible for iMacs, PowerBooks, iPods and the iPhone. As head of Industrial Design at Coca-Cola, he led the form and user interface design for the Coca-Cola Freestyle platform.
  • James Moed is the leader of IDEO’s work in financial service design across Europe. In that role he advises clients and design teams, combining observations of human behaviour with inspiration from other services, new business models, and emerging technologies.

Investment Management 2.0

Location: Innotribe Space

Day: Monday 16 Sep 2013

Time: 12:30 – 13:30

In the financial industry “shareholder value” and “profit maximization” are still very much the main criteria for investment. Nevertheless, new investment trends are emerging as a result of global changes and new ways of thinking,.  Investors are starting to look for criteria beyond maximizing profit, shareholder value and pure financial return – many of which are based on ‘intangible assets’.

To put all this in context, we strongly recommend Otto Scharmer’s latest book “Leading from the Emerging Future: From Ego-System to Eco-System Economies” (Amazon Associates Link).

otto

This session is designed to be highly interactive, applying the design thinking methodology to investment management.  The session is designed as a political campaign debate, where two protagonists will prompt the discussion through at times provocative statements and trying to convince the audience of their deep insights.

During this debate, we will look into following aspects:

  • Definitions of intangible assets, how to account for them and how to invest in them.
  • What role do financial markets play/should play, and their future “design principles”
  • We will paint a broader evolutionary context and the role of technology in all this;
  • Leading into transparency, self-empowerment and permissive organizations

Each of the protagonists will then detail their personal actions for change.

Speakers:

  • Mary Adams, Founder of Smarter Companies, expert in accounting for intangible assets
  • Stephen Richards, Principal of Ability Capital Solutions, who is launching a Pension Investment Fund, based on crowdsourced recommendations for investment by the pension beneficiaries.

Accounting for Intangible Assets

Location: Innotribe Space

Day: Thursday 19 Sep 2013

Time: 11:00 – 12:00

Is it possible to make investment decisions based on intangible assets? In this session, you will learn that the financials used as a measuring stick are being generated out of a new kind of factory, a new kind of infrastructure. Most of investment and asset managers understand this intuitively.

We will give you practical hands-on exercises to empower you with a vocabulary and a framework that helps you change what you do and how you evaluate companies.

Speakers:

  • Mary Adams, Founder of Smarter Companies, expert in accounting for intangible assets

Beyond GDP – What is real wealth?

Location: Innotribe Space

Day: Thursday 19 Sep 2013

Time: 12:30 – 14:00

Happiness Indicators like Bhutan’s Gross National Happiness, the OECD’s Better Life Index, and the UK’s Happy Planet Index are already helping the world define well-being and wealth beyond money. The H(app)athon Project www.happathon.com wants to go one step further by “hacking happiness”, and shifting how the world’s view of value can move beyond the lens of GDP.

Innotribe has partnered with The H(app)athon Project to co-deliver this customized,  super-interactive, not-to-be-missed game experience, where several imaginary countries based on new economies will work together to increase their collective progress. We have gone full-blown for the design of this session, with light and sound-scapes to immerse you 100% in this real live experiment, where you are the subject of research ;-)

The results of this experiment will be fed into the development of the Happathon mobile app that will be launched in March 2014.

Speakers:

  • John Havens, Founder, The Happathon Project.

Closing Plenary Innotribe: “Around the campfire”

Right after the Happathon session – at 14:30pm – we will all join the Closing Plenary Innotribe: “Around the campfire”, where we will share the lessons, tools and techniques learned during the week. We are very proud to confirm our two tribal wise men:

  • JP Rangaswami (Chief Scientist of Salesforce.com and direct report of Marc Benioff) and;
  • Andrew Davis (Global Head of e-Commerce Strategy and Innovation, HSBC).

More information about the Innotribe@Sibos 2013 programme can be found in our programme Brochure (PDF flyer), on Sibos.com and of course Innotribe.com

By @petervan from the Innotribe Team

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The question every bank should ask itself is: “Am I a creator or a remover of friction?”

John Hagel hit the nail on the head in a recent Harvard Business Review blog post: The cost and difficulty of coordinating activities across entities, on a global scale, is far lower now.” Today’s hyper-connectivity not only makes it possible to coordinate across entities in a more efficient way, it also causes a deep disintermediation of players that were able to maintain their monopolies through sheer scale and power.

A really good example of this is Uber.com, the well-publicized peer-to-peer limousine and taxi service directly connecting drivers and customers, disintermediating completely the dispatching taxi companies that proved to be the friction in the system.

The same phenomenon is now happening everywhere, including in banking, as we see the advent of more peer-to-peer (mobile) payment systems.

Besides disintermediation, we have disintegration. What we witness is the end of highly vertically integrated organizations, and the birth of organizations whose chief strength is to pick and choose best-in-class functionality from outsiders and mix and match those with their own internal world-class capabilities. For that to happen, you need a decomposition of previously highly integrated functions into smaller chunks (for example risk management, payments, securities, reference data, even identity and trust) and the ability to expose those functions through application programming interfaces. Externalizing your core competencies has become an economic imperative.

Sean Park from the Anthemis Group suggested all this five years ago. Back then, you still could create a competitive advantage with these methods. Today you are a plain loser if you do not have this in place yet.

So if all this is commonplace, what’s the next big disruption? In my opinion it’s peer-to-peer, the ability of two or more entities to share data and do business without a central orchestrator. P2P changes everything. It changes product and service offerings, it changes how companies are organized; it fundamentally changes the business models we are used to. This is very quickly leading to a “fragmentation of everything”: the fragmentation of work, of applications, of hierarchies, of states.

camel

To illustrate how deep the change is, I’d like to use the metaphor of a camel in the ocean. The camel is the bank, and the water is data. Until now, the camel was carrying its own water through the desert. Now the camel is in the ocean, surrounded by data. We will require a new kind of species that can survive in this data ocean, can cope with the advent of trillions of nodes on the grid, all hyper-connected, hyper-fragmented and 100% distributed.

The world needs a new kind of bank, way beyond a money-bank, probably a “trusted data bank” that can help human beings store, change and transact data, and in doing so create new authentic value. Not just gimmicks, tricks, quick wins, or dirty fixes.

We seem to live in a “perpetual crisis,” jumping from one incident to another, where there is no room anymore for building a story with a beginning, middle, and an end; no room for reflection, no room to assess and, like a surfer, scan the waves of change on the surface of the data ocean. It’s like the camel is under water, drowning in tactics and ad-hoc firefighting, incapable of interpreting the tsunami of change.

The world enters a level of complexity that cannot be addressed anymore by conventional, binary, linear thinking. We need new tools, capabilities, and more non-linear ways of thinking, to be prepared to open up for more options. These new tools are about forecasting and assessing in different ways, deciding our options in different ways, ambitious design thinking with focus on what needs to be achieved versus what is the problem to be solved, and richer ways of expressing our options through visual thinking and other techniques.

This is way beyond the flashy designs of hyper-tech branches and “punchy-music-cool-sexy” apps or product videos.

The bank of the future is a humanizing bank,

where “I am not my device” and where the focus is on relationships, intimacy, depth, and human connection – supported by technology. It’s about deep human behavior, about deep culture change. But that does not happen through top-down instruction. What is needed is viral change at scale of specific behaviors, seeded and nurtured bottom-up from deep within the fabric of the organization.

Behavior creates culture,

and not the other way around.

Cross-posted on American Banker

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On 14 May 2013, the Innotribe team is organising an exclusive invitation-only Innotribe Workshop at Level39, Canary Warf, London. The topic of this workshop is “Network Insights for business growth”.

Innotribe_logo

This workshop is targeted at senior strategists who would like to discover how big data and scenario thinking can lead to early warning systems and new network insights to assist in business growth strategies.

Your organisation is indeed hyper-connected with your business partners. You are not alone. Billions of connected business, people, applications and devices and in future far more sensors, and transactions now add up to create unimaginable amounts of information. This new environment will require extraordinary insights and adaptability: It is as if we are a species from dry land that has to learn to live in the ocean. Already now, we swim in a sea of data and the sea level, so to speak, is rising rapidly. This new environment requires a new design for companies and network insights, representing both threats and opportunities.

networks and oceans

The networks that we are part of can be looked at as dynamic fluid systems: the infrastructure of pipes creates a hyper-connected environment. The end-points in networks can be different entities: financial institutions, corporates, and market infrastructures, etc. And physically wired networks can host many different functional sub-ecosystems: some represent major traffic highways, others are more hub-to-hub topologies, others function as pure peer-to-peer exchanges. These different entities and sub-ecosystems also influence each other: they create “ripple effects” up and downstream, as well as “currents” that create significant interdependencies, like ocean currents.

During this exclusive invitation-only Innotribe workshop, we will explore the following topics:

 

  • What if you could get deep intelligence about what’s going on in these fluid networks in real-time?
  • How could that inform your growth strategies, long term scenario planning and policies?
  • What if you could combine quantitative and qualitative network intelligence streams, and combine them with scenario thinking into real insights and possible early warning systems?
  • How can you use network insights to inform your future scenario planning and strategies for growth?
  • How we use these insights for better informed risk management policies?

 

“Network Insights for Growth” will be organized in the authentic Innotribe-way. We will bring together thought leaders in highly interactive conversations, facilitated by the renowned Innotribe team. In this year’s Innotribe events and workshops, we also try to limit the number of subjects covered, so we can experience deeper conversations and insights.

Level39 Logo

This “Network Insights for Growth” event will he held at and in collaboration with Level39, Europe’s largest accelerator space, where technology, accelerator and innovation companies are being invited from around the world to come and run their startup and accelerator programs, in one of the most inspiring spaces in London. Situated in the heart of one of the most advanced ‘smart cities’ in Europe, Level39 occupies the entire 39th floor of Canary Wharf’s iconic One Canada Square.

level39 room

We will start at 10:00am UK on 14 May 2013 with planned closure of the workshop around 4pm UK. With plenty of informal networking opportunities and informal conversations during the networking breaks and lunch. This event is free-of-charge.

If you like to attend this exclusive workshop, please contact me and I will get you your personal invitation. Number of seats is limited.

Looking forward to continue our critical dialogue in London on 14 May 2013.

Detailed program:

10:00 – 10:15                       Welcome and Introduction

  • Fabian Vandenreydt – Head of Markets Management and Core Business Development –  SWIFT

 

10:15 – 11:45                       5 different lenses (15 min talks by)

 

11:45 – 12:00                       Break

12:00 – 13:00                       Interactive workshop

13:00 – 14:00                       Lunch

14:00 – 14:30                       Taking Stock

14:30 – 15:30                       2nd Interactive Workshop

15:30 – 16:00                       Conclusions, next steps and wrap-up

We plan to continue the conversation on this topic during this year’s Innotribe@sibos in September 2013 in Dubai. During the May workshop in London, we hope to establish a solid baseline as a stepping stone for our in-depth sessions on “Scenario Thinking” and “Network Insights” in Dubai. Earlier this week, i posted a preview of our 2013 Innotribe Sibos program.

 

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This year, our annual flagship event Innotribe@Sibos celebrates its fifth anniversary. Running throughout Sibos week, the event offers a comprehensive programme exploring a range of topics crucial to the financial industry.

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Innotribe@Sibos in Dubai will once again bring together a powerful combination of world experts to participate in an exciting mix of keynote sessions, case studies, and interactive immersive discussions and learning experiences.

Last year in Osaka, the Innotribe space was a fantastic spacious tent in the middle of the conference patio. It just looked gorgeous! This year, we have a really big conference room accessible from the main conference area through a tunnel. The tunnel will be a magical transition between the more traditional Sibos environment and the subterranean Innotribe Space. The tunnel will also serve as an area for exposition, informal gathering and special multimedia experiences. I have seen some early designs for the space and tunnel, and it all has a very “clubby” feeling to it. It made me think of clubs of the 80’ies with a Vive-la-Fête feeling to it. Just play the video/music below while you read the rest of the post: you’ll get into the rythm :-)

The space and the tunnel are part of the experience, and therefore the tagline for this year’s Innotribe@Sibos is

“There is light at the end of the tunnel”

creating a positive inspiring environment, looking into the future with a mindset of progress, hope and purpose.

Programme

Building on the feedback we’ve received over the last few years, we have tried to observe the following principles in the design of this year’s programme:

  • Less topics, but more depth;
  • Keep the freshness and relevance of the themes and topics;
  • Keep the uniqueness of the Innotribe format: highly interactive and immersive group learning experiences;
  • Discovery, awareness, future oriented;
  • A healthy mix of technology and non-technology subjects (societal impact);
  • Introducing the concept of “journeys”, so that you can follow a track from A-Z as a learning curve, or pick and choose depending on your familiarity and expertise with the topic;
  • Our ambition remains to co-discover, co-design, co-create and co-deliver.

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We have selected four major themes that will be:

Value/Wealth 3.0

  • Continuing from previous conversations on The Future of Money, Banks for a Better World, Social Business, and the great re-definition of wealth and well-being. New are topics on Design Thinking, Investment Management 2.0 and Intangible Assets. We have also partnered with www.happathon.com to crowdsource a global measure of well-being versus wealth.

happathon

Innovation 3.0

  • Or the re-invention of innovation. In many organisations, the discussion about innovation is hampered by a low quality and polarizing dialogue; incremental vs disruptive, core vs non-core, internal vs external. We can do better: there is a simple line running from where companies were and the processes they needed thirty years ago to a highly externalized enterprise that carries new rules and needs new processes.
  • We will also discuss new models from other industries and emerging markets – Jugaad, Shanzai, Reverse Innovation – and inject new thinking modes like design thinking, scenario thinking, business model thinking.
  • Last but not least, we will engage you in an interactive game/experience to discover a day in the lifetime of a creative banker.

Start-me-up 3.0

  • Whereas the previous two streams are maybe more conceptual, this stream is all about actual innovations, where the “rubber meets the road”.
  • In “The future is already here”, we have invited some awesome speakers that will shake the tree and showcase some mind-blowing innovations in financial industry.
  • We will also discuss the outcome and ways forward for the “Hypertribes” model, a possible new way to accelerate innovation for the industry at large.
  • This stream culminates in the Grand Finale of the Innotribe Start-Up Challenge 2013.

Network Insights 3.0

  • The networks that we are part of can be looked at as dynamic fluid systems. What if you could tap into the intelligence buried in these data currents?
  • What about combining quantitative and qualitative data streams that lead to early warning systems for growth and resilience that can inform future scenario thinking? Could these new technologies lead to new insights for better informed risk management policies?
  • Topics include network cartography, natural language generation, fraud detection, and pattern recognition.

Throughout the week, we will use the tunnel as a hospitality and exposition zone, with fascinating demos about artificial intelligence, augmented reality and multi-media interactivity. And as usual, the whole program is peppered with a whole range of props, humour and fun.

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startup

The Innotribe Startup Challenge 2013 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. Innotribe@Sibos will host the Grande Finale of the 2013 Challenge, following regional showcases in the America, EMEA and APAC.  From a total of more than 200 candidates, the 15 very best start-ups of 2013 will compete in front of a live audience and professional judge panel for a cash price of 50,000 USD.

ISDC banner Mela white bkg

Who should attend?

Innotribe@Sibos is open to all who come to Dubai. 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.

Conclusion

Innotribe at Sibos 2013 will celebrate its fifth edition with four days of intense inspiration and interactive immersive learning experiences. This is the place to get inspired, where you can share and discuss ground-breaking ideas, connect with great people, challenge each other in professionally facilitated workshops, and most of all… have fun.

Innotribe is about being infected

by irresistible contagious enthusiasm

of open-minded, curious

and passionate people

enthusiasm

You can follow the progress of our program on the Sibos website as speaker announcements continue between now and September. Follow our daily tweets at http://twitter.com/innotribe or visit the website to find out more about  all Innotribe-related sessions at Sibos: www.sibos.com

We look forward to seeing you in Dubai!

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By @petervan from the Innotribe team

Cross-Posted on Innotribe Blog

www.sibos.com

www.innotribe.com

Twitter: @innotribe and @petervan

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My post “The End of Leadership” was one of the most read posts on my blog ever. But i owe the spark and the essence for this post to Rune Kvist Olsen, who keeps fine-tuning the concept by sending regular comments to that post. Here is one of these comments

As individual human beings we must learn to practise our free will in taking and making personal choices, and practise responsibility towards our self and each other as trustworthy, dignified, reliable and accountable humans.

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The post also triggers comments in Google+ communities like this one by Leland LeCuyer:

Leader-ship puts the emphasis on the person, in particular upon the role that person is playing. Thus the title and the office give an individual certain powers, prerogatives, and duties. Certain other individuals are subordinate to the leader and are expected to execute what the leader commands.

Leading-ship emphasizes the action that is taken. It requires initiative mixed with talent, skill, and commitment. Instead of issuing orders to be carried out, it draws upon the ability of the person who is leading to inspire, teach, and motivate others to join her or him in acting. Most important of all, it doesn’t require an office or a title, just talent, skill and a commitment to act.

The differences are night and day. Carpe diem!

For others to join her or him in acting. That ties in wonderful with my updated “about” where i suggest:

“I love connecting with the experts,

the musicians, and artists of all kinds,

to bring out the very best in them,

to love to work & live with them

to show personal intent and integrity,

so that others want to join our projects too.”

But nothing better than the master himself ;-) Just a couple of days ago, Rune sent me his February update, and asked me to share it with my community and followers. It’s wonderful and deeply enlightening. Highlights are by your humble servant. Enjoy!

+++ Start Rune’s February 2012 update +++

1. Understanding the conceptualization of “Leadingship”

The ultimate core in the vision of “Leadingship” is the principle of self-determination at work. Subsequent that the individual human being is self-deciding within a defined area and field of work based on her or his individual competence. This principle should be the natural and self-evident choice in designing organizations regarding managing and leading working processes. “Leadingship” is a substantial humanistic principle by design and is stating the value of “Leadingship for Everyone”.

The contracting principle to “Leadingship” is that someone is leading and deciding over others and someone is led and decided over by others. The superior authority in subjugating people to subordination is designed by position and rank (contrary to competence). The design principle of “Leadership” authorizing the superior person in charge, is depriving the persons below their innate sense of being personal responsible of one owns contribution and performance of work. The relationship between superior people and subordinate people is legitimating the design of someone above who is worthy trust and responsibility and others below that is unworthy the dignity as equals and peers in the workplace. “Leadership” is definitive an anti-humanistic principle by design and is stating the value of “Leadership for Someone”.

In sum the natural design principle at work is to grant competent people their human right of self-decision. Depriving people their right of self-determination, is to devaluate their competence as authorities within their personal field of expertise. And that choice is both unnatural and anti-human.

2. Understanding the incomprehensibility and unintelligibility of the unknown matter of reality, through our adapted perceptions of beliefs and values.

To become able of understanding and learning anything that comes to us as a matter of something unknown, strange, different and perhaps controversial in challenging our ingrained beliefs and truths, we are dependent of an ability and a will force to think the unthinkable in understanding the unbelievable substance of the unknown matter at hand.

Unless our capacity of transgression beyond our force and power of mind exist, we will surely be stuck with our old beliefs and truths surrounded by ignorance, prejudice and convictions – as protective shields against challenges perceived as threats to our known measures of reality.

The journey of mind from Leadership to Leadingship, is an example of such a provocative, controversial and challenging test for our ability and will to move beyond the unthinkable of the common reality of theory and practice in organizations to day.

3. The pedagogical core of Leadingship

  • As individual human beings we must learn to become independent responsible human entities interacting with each other on mutual and equal ground.
  • As individual human beings we must learn to practice our free will in taking and making personal choices, and practice responsibility towards our self and each other as trustworthy, dignified, reliable and accountable humans.
  • As individual human beings we must learn to convert our learning’s to personal competence by practicing our independence and responsibility through the adaption and application of our learning’s in real life.
  • Being independent and responsible human beings at work. When we have become truly independent and responsible individual human beings at work by taking care of our self and each other, we have gained the personal ability to practice Leadingship in the process of leading our self together with others based on our competence and enabled by mutual trust and personal freedom.

4. Fear based relationship powered by Leadership versus trust based relationship powered by Leadingship

A relationship based on fear (of rejection, exclusion, punishment etc.) and managed by control, command and domination over other people in the organization, is an expression of a deep and intrinsic personal need, urge and desire of being in charge as a superior person ranked above others as subordinates ranked below. By being in charge the person has gained the superiority and the enforcing power over others. The nature of Leadership is to lead others by deciding over them and by subjugating others to be led through obedience and loyalty. The notion of being subjected to others mercy, is in it self a source of the threatening emergency of fear.

A relationship based on trust (of appreciation, recognition, acknowledgement etc) and managed by personal freedom, mutual respect and social responsibility, is an innate expression of a devoted and compassionate engagement between people who are regarding themselves as equal, peers and partners in either working alone or together. The social mutuality is practiced through the respect and appreciation of each person as a worthy, competent and valuable contributor in the integration and coordination of work. The nature of Leadingship is to lead one self together with others in taking personal responsibility for decisions within one owns field of work based on the shared trust in performing independence and responsible actions.

+++ End Rune’s February 2012 update +++

It should make us think deeply what we do with our organizations and the people working in it, for it, or even better from it. The “organization” is not anymore a objective in itself, but rather a tool, a platform for moving the needle of progress in the world. As mentioned before in this blog, I strongly believe that “Organizations are becoming Movements for Greatness”.

The old model has failed and is obsolete.

But we keep on training our young potentials based on the old-style model. Like the overall financial system has failed and is obsolete by only taking value out of the system but never giving back. The old model showcases perseverance in repeating the same greed errors over and over again. The old model fails to see the deeper ecological values beyond transactional relations based on raw power and money. The old model has failed because the power of leaders is based on hierarchical position, title and entitlement.

bucky

The old model has failed, and a new generation of leaders is standing up, protesting against the end-less and clueless forms of (re)organizations where people are still considered by “leaders” as pieces on a chessboard that can be moved as resources that are owned in a slavery type of relation, a power by leaders exercised on “subordinates”. These organizations are becoming toxic environments, where people are getting mentally and even physically sick, because they are deprived of genuine sharing and leadingship oxygen.

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These new empowered employees are making a big plea for a more humanized workplace and call for actionable movements for greatness and inspiration. For a place where they are no longer seen as cogs in a machine, doing mindless repetitive work, soon to be taken over by machines

Ross Dawson and John Hagel recently elaborated in “Our future depends on the humanization of work“:

However perhaps the most important perspective is that work must be humanized.

As Hagel eloquently described, the problems we face have largely arisen because of the dehumanization of work. As we have built processes and structures that have made people into cogs in machines, it has indeed made them eminently replaceable.

In fact one of the great promises of the increased mechanization of work is that in a way it it forces us to be more human.

We are continually being pushed into the territory that distinguishes us from machines: emotion, relationships, synthesis, abstraction, beauty, art, meaning, and more.

Part of this is in designing jobs that draw on our uniquely human skills, and for all of us to bring our humanity to bear in our work.

Yet the broader frame is an economic structure that has made work inhuman and readily replaced by machines. We need to fundamentally change the nature of organizations and how we work together to create value. The systems must be humanized in order to allow the work to be humanized.

That is our challenge, our task, indeed our imperative if we wish our collective future to be happy and prosperous. Let us work hard to humanize work.

There is a huge role for independent and inter-dependent leadingship grounded employees to virally change the system from deep within, sticking out their neck for this good cause and leading from the edge.

living on the edge

I look forward hearing your comments. Have an inspiring day!

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innovating-innovation-finalist-large (1)

The Innotribe team is super thrilled having been selected as finalist for the HBR/McKinsey M-Prize Challenge on “Innovating Innovation”. The judges and the MIX editorial team poured over more than 140 contributions from innovators from around the world and from every kind of organization—looking for depth, boldness, originality, thoroughness, and the ability to inspire and instruct in equal measure.

This is a fantastic recognition of our work of the last 5 years, especially if you look at the high-caliber of the judges of this challenge, a real who’s who of leading management thinkers and progressive practitioners, including:

  • Scott Anthony – Managing Director, Innosight Asia-Pacific; author, The Little Black Book of Innovation
  • Tim Brown - CEO and President, IDEO
  • Henry Chesbrough  - Professor, UC Berkely; author, Open Innovation
  • Jeff DeGraff – Professor, University of Michigan; author, Innovation You
  • Gilberto Garcia – Chief Innovation Officer, CEMEX
  • Gary Hamel – Co-founder of the MIX
  • John Kao – Chairman of the Institute for Large Scale Innovation; author, Innovation Nation
  • Jim Stikeleather – Chief Innovation Officer, Dell Services

Winners will receive significant recognition as management innovators on the MIX, Harvard Business Review and HBR.org, the McKinsey Quarterly and McKinseyQuarterly.com. Winners will also earn the chance to appear at future live events hosted by the MIX and its partners.

UPDATE 20 Feb 2013: we just learned that we did not win. Pity. But still proud to have made it to the last 24 finalists !

UPDATE > PRESS COVERAGE

 

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