An afternoon of Japanese open innovation and karaoke

Whilst everyone else went to immerse themselves in the latest PFM technology – or is it robo-advisory this year – at Finovate Europe, I decided to head to NTT DATA’s Open Innovation Contest Finalist Pitch Day hosted by Innovate Finance at nearby Level 39. NTT DATA not only operates in the banking and finance space but also realises projects such as the digitalisation of the Vatican library.

The contest is open to business ideas and applications related to the challenges posted by NTT DATA group companies across the world. Challenges which are not only related to FinTech as I found out later. The winner of the London contest will move on to the global round in Japan in March. Given that NTT invests $1.8 billion annually in R&D, certainly a good place to be.
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Industrialisation to unlock the efficiency and agility of banking

Since the financial crisis, the banking industry has been under tremendous pressure. Economic uncertainty, rising customer expectations, increased regulatory focus, intensified competition and new FinTech entrants are putting an increased pressure on bank’s revenue margins. These trends are creating an urgent need for innovation and cost reduction.

Is industrialisation the way forward for the banking sector to unlock innovation and agility?
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