Case Study

Case Study: Digital Innovation Is Seeded Throughout CaixaBank

Innovative Culture Prospers Without A Rigid Innovation Process

February 27th, 2015
Oliwia Berdak, VP, Research Director
Oliwia Berdak VP, Research Director
With contributors:
Benjamin Ensor , Rachel Roizen , Alex Causey

Summary

Digital innovation is how companies survive digital disruption. But innovating is hard, and digital executives at retail financial services firms have complained that a lack of physical products, tough regulation, and ossified culture stand in their way. With a string of digital innovations since 2008, Spain’s CaixaBank — successor to “la Caixa’s” banking business — has repeatedly demonstrated that it’s possible to overcome these obstacles. The bank uses open innovation to generate ideas, prioritizes innovations that deliver value to its customers, and gives digital teams the resources and autonomy to work on their own projects. Read this report to see how an innovative culture operates in practice.

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