Large banks must take steps to ensure they have strong,
innovative leaders in place and adopt the correct insightful
strategies if they are to stay ahead of the technological
curve. Embracing technological innovation through fintech
investments and strategic partnerships is crucial, as is
maintaining agility as customer expectations and competition
from fintech startups changes the playing field.
This was the message at the FT US Banking Forum yesterday in
New York, during the Engines of Innovation: Driving Success
in a Digital Ecosystem session. Barry Hurewitz, global
head of evidence lab innovations at UBS, told the forum that
this process must start with strategic insight.
"It doesn’t happen typically at the top of the
bank, it happens at the business unit, even at product level or
product management, somebody has to get an insight into...