Open innovation, the process of encouraging ideation across all stakeholders to drive enterprise innovation, is gaining traction in a diverse range of business applications – from automotive design to drug discovery. Two banks that are harnessing the power of Open Innovation to drive organization change were featured in the most recent edition of the Efma-Infosys Innovation in Retail Banking study.
One bank, Noor Islamic in Dubai, is taking the process of idea generation right to the average banking customer. The other, Spanish bank BBVA, set up a US$ 100 million venture fund in Silicon Valley to catch disruptive financial models and technologies as soon as they germinate
Read more at Finacle