Designing and developing lean innovation processes and capabilities for a ASX-listed Financial Services Group

 
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Background

The retail banking, business banking and wealth management division of a major (ASX20) diversified financial services group wanted to accelerate the establishment and optimisation of an innovation function to support the bank’s digital transformation and enterprise agile adoption.

 

Engagement

Working with the newly formed internal innovation team, we co-designed an innovation process that integrated the bank’s existing processes and capabilities in Design Thinking and Agile methods. We then delivered on a capability development plan to rapidly uplift the bank’s capability in lean innovation, rapid experimentation and business model design methods. Additionally, we created customised tools, playbook and training collateral for the client’s innovation team.

 

Outcome

The reengineered business case and product development process was approved by the executive leadership team as the ‘new way of working’ and subsequently adopted across the business group; increasing speed to market for product innovations and providing leadership with an evidence-based framework to prioritise allocation of resources to new initiatives. Venturetec also trained a team of internal Innovation Coaches who went on to successfully rollout lean innovation training at scale for over 2,000 staff.