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Business
Insights that
drive results

Posts by JP Nicols

08/24/2016

Your Fast Follower Strategy is Riskier Than You Realize

In my last post Leaders, Learners and Laggards I talked about banking leaders who describe their approach to innovation as being a “fast follower, and how my typical retort is that they are half-right— most of them are definitely followers, but there usually isn’t anything fast about their approach. This has spurred some great discussions…

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07/28/2016

Leaders, Learners and Laggards

I talk with a lot of banking leaders who describe their approach to innovation as being a “fast follower. My typical retort is that they are half-right— most of them are definitely followers, but there usually isn’t anything fast about their approach. Pioneers are the ones who get hit with arrows, and it is only…

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04/15/2015

Traditionalists and Trailblazers in Innovation

Late last year I was asked by my good friend Jim Marous of The Financial Brand to contribute to his crowdsourced list of 2015 Digital Banking Trends and Predictions. My prediction was that we would see an increase in the current trend of banks investing in innovation. More newly-minted Chief Innovation Officers, and more establishments of new…

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10/24/2014

5 Ways to Kill Your Innovation Initiative

I often write and speak about the “Business Prevention Department” that lurks inside banks. Devoted to sniffing out and stamping out anything that looks “risky”, the Business Prevention Department is staffed with members committed to “protecting” their banks from those scary people who want to try unproven ideas. As banks worldwide hurriedly launch accelerator programs,…

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08/13/2014

Are You Looking for Innovation or Efficiency?

I have noticed a recent increase in the use of the word “innovation” in more and more bank job descriptions and even in bank job titles. I view this as both good news and bad news. Good news because at least it seems that banks may be recognizing the need to create new products and…

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04/18/2014

Why we innovate

To many people working in financial services today, the word “innovation” actually sounds a lot like “risk”— at best, a waste of time on things that been proven yet, and at worst, something that could put the company in harm’s way, not to mention raise the ire of bosses and regulators alike. It’s time to…

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01/27/2014

So, You Want To Be An Innovator … Five Keys to Success

Warren Buffet has been famously quoted as saying “Only when the tide goes out do you discover who’s been swimming naked.” The global financial crisis that began in 2008 created new low tide marks, and we definitely saw more naked bankers than the Mayflower Madam. The recovery over the past couple of years has turned…

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