Creating an External Innovation Hub for financial institutions

FGS Most FinTechs are Enablers, not Competitors_FinTech Growth Syndicate
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Creating a SaaS solution and launching an external innovation lab for a Tier 1 Canadian Bank.​

In collaboration with one of Canada’s largest banks, FGS helped to launch an external innovation lab that focused on the development of an ecosystem partnership plan, playbook, processes, and engagement model. In addition to this, FGS also worked to create an industry-first SaaS solution.

CHALLENGE

Creating a solution to help with education-related to loan exceptions as well as launching an external innovation lab.​

The challenge was to find a way that would accelerate the clients’ innovation cycle by launching an external innovation lab where they could leverage their datasets and explore emerging technologies in partnership with FinTech ecosystem players. In addition to this, we worked together to find a solution that addresses how the client could innovate the learning and judgement of front line staff for loan exceptions.

SOLUTION

An external Innovation Lab that is a first of its kind in Canada.​

Together with our client, FGS co-created a SaaS solution that would assess and teach through simulated learning against a specific lending policy. A library of content was developed based on principles and regulations. Presently, no competitive alternative exists.

IMPACT

Disruption proof innovative environment.

In collaboration with our client, FGS was able to deliver a SaaS solution for front line staff as well as creating an external innovation lab for our client. Together, these solutions were able to help our client continue to be a leader in delivering innovative digital solutions to their customers.