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Innovative: The Business Value of Experience Design (Part 5 of 8)

Perficient

In this post, we explore the value of innovation: Bringing diverse and fresh ideas and perspectives to help the organization think differently, differentiate and future-proof its investments. The latter is innovation by demand! Innovation is the implementation of something new.” Innovation is the implementation of something new.

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California Dept. of Financial Protection and Innovation announces plans to exercise expanded powers under Consumer Financial Protection Law

CFPB Monitor

The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB. The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021.

Exercises 127
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Use This Framework for Better Bank Innovation

South State Correspondent

Every bank wants to be “innovative,” but the truth is innovation is difficult. Add to that a bank’s resource constraints, compliance demands, budget goals, legacy IT infrastructure and talent gaps, and innovation for a bank is extremely difficult. The Problem of Bank Innovation. Framing Innovation.

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Solve This Problem with Your Strategic Horizon

South State Correspondent

In comparison, investments in new technology or new business lines pale in comparison to other strategic investments due to the time and effort it takes to get a business line off the ground. Demographics shift, products change and technology drives channel preferences. This type of exercise is planning, not strategic planning.

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APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

The B2B payments industry is finally beginning to hustle when it comes to technological innovation. This industry is on the cusp of some major innovation, too, as FinTechs roll out services that banks can offer to their own customer clients via APIs. It loves modern technology.

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Fleet Feet: Running Shoe Retailer Sprints With Technology

PYMNTS

Americans are exercising through the pandemic. The Carrboro, North Carolina-based chain has used its technology-first strategy to get, keep and grow its customer base – even while its stores were shut down early in the pandemic. Fleet Feet has come up with proprietary technology to address that. it has 181 stores in 37 states.

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Building Innovative Subscription Services With Discovery, Flexibility

PYMNTS

To provide consumers with the curation of a subscription box or the flexibility of a rental platform, digital innovators are tapping into the subscription business model. And, the report notes, businesses in different verticals are heavily investing in the infrastructure and technology needed to provide these services.