Boston, September 22, 2015 – Companies first to market with a successful change innovate. Companies that follow suit simply imitate. While not all institutions seek to innovate for the same reason, firms share an often-conservative culture and a struggle to find the right innovation-driving process. This report examines how a panel of large institutions from North America, Europe, and the Asia-Pacific have sought to foster innovation in recent years.  

This report is based on 48 interviews with innovation practitioners at large financial institutions in the banking, insurance, and investment sectors around the world. It covers the range of activities undertaken by innovation teams, provides a typology of these teams, and presents individual case studies to deliver a peek into how financial institutions have set sail on the innovation journey.

This 73-page Impact Report contains 39 figures and 22 tables. Clients of Aite Group’s Health Insurance, Life Insurance, P&C Insurance, Retail Banking & Payments, Wholesale Banking & Payments, or Wealth Management services can download this report.