Conventional wisdom has often scoffed at the notion of innovation emerging from incumbent banks. Global banks tend to be slow moving, overly burdened with legacy technology and entrenched with cultures that are antithetical to entrepreneurial values and progressive development workflows — or so the thinking goes.
This year’s Innovation in Digital Banking Awards submissions offered a range of innovative products covering retail, wholesale and investment banking. However, they also highlighted the real work being done by banks all over the world to reorganise and upgrade their internal procedures and cultures.
