Transactional to Transformational

Through a series of case studies you are invited to meet, and learn firsthand from, the people and teams that have delivered a number of very different innovations successfully across a diverse group of banks; big and small, long established and brand new, from the east and west!

Banks featured include: Bank of America, BBVA, Citi, Crédit Agricole, Danske Bank, Deutsche Bank, ING, J.P. Morgan, Lloyds Bank, Metro Bank, N26, National Australia Bank, Royal Bank of Canada, Santander, Standard Chartered and Swedbank.

This book will equip you with ideas, tools and actionable hands-on advice. You will discover the untold stories about how these banks delivered new solutions to consumers and businesses, products as well as services, across the spectrum of buy, build and partner.

Here are some of the innovation challenges you can overcome by learning from those that already did:

• Working around legacy systems
• Limited tech resources and budget
• Secure budget and buy-in from the exec team
• Creating a culture that embrace innovation
• Compete with fintechs and big tech for new talent
• Validating actual customer demand
• Increasing speed to market whilst satisfying risk and compliance
• Retain control when partnering with third parties
• Making the right priorities
• When to shut something down

Once you have bought this book you can register on www.howbanksinnovate.com to access more in-depth material from all of the banks featured, full-length interviews and videos.

Foreword xi

Introduction xv

Part i: Buy 1

Invest

Chapter 1: Lloyds Banking Group 3

Chapter 2: BBVA 19

Acquire

Chapter 3: Metro 33

Chapter 4: J.P. Morgan 48

Part ii: Build 61

Incubate in-house

Chapter 5: Crédit Agricole 63

Chapter 6: National Australia Bank 77

Build in-house

Chapter 7: Citi 93

Chapter 8: Bank of America 107

Spin out

Chapter 9: ING 120

Chapter 10: Santander 133

Part iii: Partner145

Fintechs and startups

Chapter 11: Deutsche Bank 147

Chapter 12: Danske Bank 161

Banks and other corporates

Chapter 13: Swedbank 175

Chapter 14: Standard Chartered 190

Part iv: Bonus: Ways of Working 205

Chapter 15: N26 207

Chapter 16: Royal Bank of Canada 222

Index 235

Christer Holloman is a serial entrepreneur, best-selling author and popular speaker on the future of business. He is also the founder of Divido, a software platform used by banks globally, such as HSBC, BNP and ING. His company is backed by many of the same investors as the fintech unicorns Revolut, Wise and iZettle, including Mastercard and American Express.

Prior to his start-up career Holloman worked for the British newspaper The Times where he made a name for himself by being able to explain in an engaging and entertaining way how successful businesses adopt new technologies to defend and grow market share. Other books he has authored include How to Sell Online and The Social Media MBA series also published by Wiley, which has sold over 10,000 copies and been translated into multiple languages.

Holloman is also the Chairman of Fintech Finishers, set up to raise awareness, inspire action and introduce accountability for more diversity, inclusion and equality in the fintech industry. They do this by inviting peers to challenge each other to complete endurance races around the world, such as the Ironman in Hawaii, whilst raising money for charity.

Holloman holds an MBA from the University of Oxford.

For more information and to discuss speaking engagements, please visit: www.holloman.info.

Through a series of case studies you are invited to meet, and learn first-hand from, the people and teams that have delivered a number of very different innovations successfully across a diverse group of banks; big and small, long established and brand new, from the east and west!

Banks featured include: Bank of America, BBVA, Citi, Crédit Agricole, Danske Bank, Deutsche Bank, ING, J.P. Morgan, Lloyds Bank, Metro Bank, N26, National Australia Bank, Royal Bank of Canada, Santander, Standard Chartered and Swedbank.

This book will equip you with ideas, tools and actionable hands-on advice. You will discover the untold stories about how these banks delivered new solutions to consumers and businesses, products as well as services, across the spectrum of buy, build and partner.

Here are some of the innovation challenges you can overcome by learning from those that already did:

• Working around legacy systems
• Limited tech resources and budget
• Securing budget and buy-in from the exec team
• Creating a culture that embraces innovation
• Competing with fintechs and big tech for new talent
• Validating actual customer demand
• Increasing speed to market whilst satisfying risk and compliance
• Retaining control when partnering with third parties
• Making the right priorities
• When to shut something down

Once you have bought this book you can register on www.howbanksinnovate.com to access more in-depth material from all of the banks featured, full-length interviews and videos.

Praise for Transactional to Transformational

“Reading this book has been a great way to validate what we are already doing as well as giving a lot of new ideas about what we could be doing next!”
– Jan Strang, Head of Retail Finance, Nordea Bank

“An enlightening fact-based read which provides direction without forcing a solution to what is arguably the biggest challenge faced by businesses today: digital transformation.”
– Paul O’Leary, Managing Director, UK, IKANO Bank

“The challenges overcome by global banks of different nature and size provide readers with a useful tool to be able to embrace innovation themselves.”
– Alberto Greppi, Head of Investment Team, Neva Finventures, Intesa Sanpaolo

“If you work with banks, or in banking, this is a must-read crash course in the best practices of their varying innovation models.”
– Will Mason, Director of Markets and Innovation, Experian

“These case studies demonstrate that whilst there are many paths to success, banks need to focus as much on how they approach innovation as what they hope to deliver in order to make a lasting transformation.”
– Anthony Craufurd, Venture and Startup Engagement Director, VISA Europe

“This book shows that there is no silver bullet when it comes to how to drive innovation within companies, it is difficult to innovate within an established corporate culture, flexibility is key and the ability to pivot quickly if needed.”
– Werner Decker, EVP/GM, Global Merchant Services International, American Express

“The success levers and learnings from each case study are very clearly laid out. What I really love about it is that it is practical, actionable and easy to absorb.”
– Pinar Alpay, Senior Vice President, Global Payment Solutions & Transformation, FIS

“Christer’s case studies are a valuable resource for operators attempting to drive change in and around financial institutions.”
– Philip Bodell, Corporate Development Director, Fiserv