The banking industry has become increasingly concerned over the challenge that emerging fintech startups pose to banks’ traditional ways of doing business and the threat that they present to revenue streams. In response, many banks have created internal innovation labs to counter these risks.
For any financial service provider, like MLP, customer proximity is the single most important aspect in daily business – especially as financial consultancy services require lots of trust. But with the hit of the financial crisis the perception of financial services changed drastically. For many people the financial sector is lacking transparency and being perceived as confusingly complex.
Thanks to providers like Fidelity, people can rely on easy, convenient systems to stay on track with their retirement savings. But when it comes to saving for important near-term goals (think: vacation, house, or wedding), people tend to be less organized.
Design Thinking is the best innovation method. And it is not even close! In the 2019 Alchemist Accelerator Survey, 46% of Executives voted Design Thinking as the the most effective method to support Innovation.
Agile is a method to solve predefined problems, while design thinking focuses on finding the right problems to solve.
Government's role is to provide essential services for its people. Using the methodology and mindset of Design Thinking in government projects can help to clarify for whom, what problems need to be solved and test and improve the resultant ideas quickly before huge resources are applied to rolling out the new or improved government services.
In a connected world, Design Thinking is more important than ever. We need a healthy mix of people to get involved in the innovation process. No single designer, or even team of designers, can ever hope to understand all the facets of a particular subject.
From hospitals to housing, good design makes government better. It saves lives, cuts costs, and boosts social welfare.
GovInsider caught up with Jeffrey Ho – Executive Director of the DesignSingapore Council, part of the Ministry of Communication and Information – to find out how design-thinking has been used in Singapore.
One way to develop more empathy with—and gain new insights about—your customers is to look beyond the narrow definition of your offering and consider the customer’s total experience. The more broadly you define the customer experience, the more opportunities you can identify for improvement.
Icebreakers can really help to create the right atmosphere for your design thinking sessions, lighten people up and open them to a fresh approach. They can also help introverts get comfortable with what’s to come. Ice breakers can take lots of forms. Here are some favorites.