Innovation 'Very Important' to Most Banks
Innovation will be a continuing focus of bank leadership, according to a survey conducted by BAI, the banking industry's leading professional organization. The study found that 84 percent of respondents believe innovation is very or extremely important to their organization, but many financial services companies may not yet have all the information and resources they need to implement this change and execute their vision.
"It's not a huge surprise to find out that banking organizations are saying they place a tremendous value on innovation," said Deborah L. Bianucci, President and CEO of BAI. "What is surprising is that more than a third of the CEO respondents (43 percent) said they do not think they are as innovative as their competition, citing lack of staff resources as the primary obstacle."The question remains - how can banks tackle this overwhelming priority? The answers are clear: through technology, innovative business practices and better human capital management.
These core elements of innovation will be tackled at the upcoming BAI Retail Delivery Conference & Expo, which will take place November 14-16, 2006 in Las Vegas, NV. Their importance and the financial services industry's desire for more information about how to leverage them within financial services is evidenced by the strong registration for this event.
"Over the past 12 months, we've talked to hundreds of senior financial services executives and key solutions providers," said Bianucci. "What we've heard loud and clear is that the banking industry has become an increasingly commoditized marketplace and banking organizations are looking for new ideas and groundbreaking concepts to help them thrive in the competitive marketplace."
BAI Retail Delivery will feature speakers such as Michael Eisner, Former CEO, Walt Disney; James E. Rohr, Chairman and Chief Executive Officer, The PNC Financial Services Group; Liam E. McGee, President, Global Consumer & Small Business Banking, Bank of America, as well as the results of new consumer research and an extensive survey of bank executives conducted by BAI, which explore the specific customer interactions and experiences that drive relationship receptivity with banks.
BAI will introduce the BAI Innovation Stage at the conference too - a new component of the conference - which will be solely dedicated to speakers from across all industries who will provide their insight on how companies across the board innovate to survive and succeed. In addition, technology demonstrations and industry-specific topics will be featured and discussed. Speakers at the BAI Innovation stage will include Chris Anderson, Editor-in- Chief of Wired Magazine and Steve Bigari, President and CEO of Bigari Foods & America's Family, the restaurant company featured in the bestseller, The World Is Flat.
BAI Innovation Stage concepts will include:
As a first at this year's conference, BAI is highlighting six forward- thinking industry innovations in a series of video vignettes called-BAI Innovation Moments. In addition, over 300 solutions providers will be on site at the BAI Expo to offer hands-on experiences and person-to-person interaction with the latest innovation technologies and services.
- Mobile commerce and RFID
- Next-generation web applications
- Biometrics and customer authentication
- Business model innovation
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