1. Innovating in a Changing Banking Industry JP Nicols Day 5: Let’s Innovate! 1

2. It’s Friday! 2 © Innosect.comInnosect.com JP Nicols

3. POCs, Prototypes, MVPs and Pilots 3 Proof of Concept: Test a feature or concept Prototype: A working model MVP: Minimum Viable Product Pilot: Small test with real customers © Innosect.comInnosect.com JP Nicols

4. Who Should Be on your Innovation Team ? 4 A Diverse Team: Ideators: “I’ve got an idea” Clarifiers: “Let’s not make any assumptions” Developers: “Let’s weigh our options” Implementers: “Come on! Let’s Go!” www.foursight.com © Innosect.comInnosect.com JP Nicols

5. Build, Buy, Partner or Pass ? 5 Considerations: Cost, including opportunity costs Core capabilities Speed Synergies © Innosect.comInnosect.com JP Nicols

6. Business (Viability) People (Desirability) Technology (Feasibility) 6 Design Thinking 101 Understanding Empathy Definition: Pains Gains Jobs Understanding Empathy Definition: Pains Gains Jobs Dschool.stanford.edu © Innosect.comInnosect.com JP Nicols

7. Personas and Archetypes 7 © Innosect.comInnosect.com JP Nicols

8. Persona Exercise 8 Name your Persona –Lifestyle details –Personality –Pains/Gains/Jobs to be done What is their current experience with your product? Where are there gaps? How can you fill them? © Innosect.comInnosect.com JP Nicols

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11. 11 Resources Books Blue Ocean Strategy Built to Thrive Business Model Generation The Discipline of Market Leaders The Innovator’s Dilemma The Innovator’s DNA Value Proposition Design Blogs/Newsletters FinServ 25: The Most Influential Voices in BankingFinServ 25: The Most Influential Voices in Banking Videos Wildebeests Uber Interview Did You Know? (2014) Finovate Demo: Moven Finovate Demo: CBW Bank TED Talk: Self Driving CarsTED Talk: Self Driving Cars © Innosect.comInnosect.com JP Nicols

12. 12 “BBVA will be a software company in the future.” – BBVA Chairman Francisco González © Innosect.comInnosect.com JP Nicols