[Dave Birch] The fifth of the lunchtime round tables in the Innovation in Payment series will be held at at the City Club, 19 Old Broad Street, London, EC2N 1DS, from 12:30-2:15pm on 3rd June 2009. James Gardner (Lloyds Banking Group), Tobias Rooney (Innovaro) and Carsten Sorensen (LSE) will be on the panel and we will discussing what technological innovation might mean in the financial services sector and how it might it change in the future. We'll be focussing on the innovation process, not the technology, and you can download the full invitation here: 05_Jun09_Roundtable.pdf (105.5K).
Innovation is a very slippery concept – particularly technological innovation. There are thousands of new, emergent technologies – and millions of ways to use them. So, how does a financial institution pick and choose? After all, taking a gamble on a particular technology is not cheap – and, if you get it wrong, you may find you have bet the bank. Can an institution manage the process of innovation so as to maximize the chances of success and minimize those of failure? And can it “embed” innovations in its corporate DNA more quickly and effectively than its competitors? These are difficult questions – and no one really has the answer. (If they did, Microsoft would have invented Google and Citi would have invented PayPal.) But they are well worth thinking about. I am, therefore, delighted that we have been able to pull together a panel – including a practitioner, a consultant and an academic – who have been thinking about the process of innovation and the way it is likely to evolve in the future:
Three experts will share experiences around innovation:
- James Gardner is the Head of Innovation and Investment in Group IT at Lloyds Banking Group and the author of the well-known “Bankervision” blog. He has just completed a book on “The Future-Proof Bank”, drawing on his experiences both inside and beyond the bank sector.
- Tobias Rooney is a principal at Innovaro, a consultancy that has been helping large organisations (in many sectors) to manage their innovation processes more effectively for many years.
- Carsten Sorensen is from the Innovation Group in the Department of Management at the London School of Economics and has been researching the impact of technology (mobile, in particular) on organisational structure and dynamics.
You might never get the opportunity to question them on a panel together again, so please do come along and help us to understand the future relationship between payments and banking by tapping into their collective experience, perspective and knowledge. Attendance is free, but space is limited. So if you or a colleague would like to join us, please let us know as soon as possible by e-mailing sophie (at) csfi.org.uk or by phoning the CSFI on +44 (20) 7493 0173 as soon as possible.
Perhaps the most important use of money - It saves time.
Author W. Somerset Maugham (1943).
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