“Innovation … developing the future that others will be required to adapt to.” Fintmind
“The emergence of new players in the transactional business market is happening right now, rethinking the approaches to banking business, for example in the past where the bank played the role of Escrow agent or guaranteed value transmission.” Andrew Zimine, CEO, Exscudo
“Creating labels creates identity. One can innovate by defining the boundaries of a ‘thing.’ Once the boundaries are understood, recognised, people innovate within them, expanding the newly identified sector. Entire commercial sectors have been created in this way. Including Fintech. We ‘created’ the sub sector of Paytech in the same way”. Tony Craddock, CEO, Emerging Payments Awards.
“Willingness for innovation occurs due to pressure. If the market or commercial environment is pressuring the situation, innovation becomes an easier choice than stagnation or inverted growth. Fintmind July 2017
“Legacy technology can render an organisation non adaptive. This can create a very binary situation in terms of decision. If the technology stack has an adaptive ability that is lower than the rate of innovation in the environment, there is an inevitable decline in the rate of adaptation and the consequent ability of the company to deliver relevancy. Continuous maintenance of technology stacks that have a lower adaptability than the environmental change will inevitably lead to obsolescence of that technology and the organisation dependent on it.” Fintmind July 2017
“Innovation is the leadership of the environment.” Innovation is proactive adaptation, whereas adaptation is typically a reactive measure against change.” Fintmind July 2017
“A product which may be greatly useful to a bank right now, by the time the idea passes all the stages of coordination, it may be less useful, or even obsolete, and still be implemented. This is just one of many reasons why the banking sector is gradually losing its positions to new companies in fintech sector.” Andrew Zimine, CEO, Exscudo