5 big ideas in retail banking and how 2 companies came up with them

Two-time Nobel Prize winner Dr. Linus Pauling summed up the process of innovation this way: "The best way to have a good idea is to have a lot of ideas."

Another Nobel Prize winner, Albert Szent-Gyorgi offered his own insight into innovation: "Discovery is seeing what everybody else has seen, and thinking what nobody else has thought."

The two 20th century scientists would certainly approve of the 21st century concept of "crowdstorming," which brings together the creative genius found in a variety of fields to generate masses of ideas that no one has yet discovered.

Just as certainly, financial institutions and their vendor partners would agree that a whole lot of new ideas and discoveries are needed post haste for an industry faced by shifting economics, rapidly advancing digital technologies, new and emerging risks and regulations, aggressive new competitors, and an increasingly assertive customer base.  

Diebold Nixdorf completed an initiative aimed at finding new ways to help financial institutions remain relevant and rethink their approach to the bank customer experience.

For this project, the company partnered with jovoto, a firm that specializes in facilitating crowdstorming projects.

The two companies will introduce these transformational new ideas in a free, one-hour webinar, on Tuesday, Nov. 15, hosted by ATM Marketplace.

Diebold Nixdorf used jovoto's open online platform to challenge more than 8,000 creative minds around the globe to ideate, develop and present new and innovative concepts and strategies for the delivery of modern financial services.

On its website, Jovoto offers this description of its crowdstorming philosophy and approach:

[W]e like to think of it as brainstorming on steroids. Fuelled by graphic designers, product designers, architects, inventors and artists, those who collaborate and create on jovoto make the crowdstorm a dynamic, social, and out-of-the box experience. 

The goal of the crowdstorm is to generate ideas and solve problems, achieved through mass collaboration, and a positive working culture. …

A successful crowdstorm transcends disciplines, borders, and cultures. It is where creatives can come to learn from each other, and to gain recognition for their work.

At the end of the project, an international panel of banks and fintech experts selected the top five winning submissions. 

Webinar attendees will learn how the Diebold Nixdorf crowdstorming process worked. They'll also learn about — and from — the professionals who participated in the open platform initiative, and winning submissions.

Presenters at the event will include Achim von Bremen, vice president of sales enablement at Diebold Nixdorf, and Luzius Rüedi, creative strategist at jovoto.

Von Bremen has worked since 2000 in sales and marketing management positions at Wincor Nixdorf, now Diebold Nixdorf. Today, he leads strategic business development for the company, as well as related programs and initiatives on the sales and marketing side.

Rüedi has spent 15 years in the innovation, creative business and communications world, experience that has given him the skills and insight needed to understand the imminent challenges of large, international organizations. As creative strategist at jovoto, he helped to facilitate the structured open innovation process used by Diebold Nixdorf.

Together, they will outline and discuss:

• insights and perspectives from Diebold Nixdorf and an overview of the top five ideas vetted and chosen by the international jury;
• transformation strategies that address the converging physical and digital worlds of commerce and payments;
• emerging themes and disruptive approaches to banking transformation that can be translated into long-term strategic initiatives for an organization; and
• consumer-centric solutions and tailored touch points for the digital era.

Register now for the free, one-hour webinar

photo istock