As our editor, Jack Milligan, writes in How One Large Bank Fosters Innovation, “conventional wisdom holds that banks are not very good at innovation — and large banks, with their entrenched bureaucracies and clumsy legacy systems, are probably worst of all. It might then come as a surprise that Bank of New York Mellon Corp. has run a highly successful innovation program that has made a meaningful contribution to the bank’s profitability, and also manages to get most of the company’s 10,000 employees involved in the process.”
Earlier this week, I shared how Declan Denehan, BNY Mellon’s managing director for strategy and innovation, provided his thoughts on staying relevant while engaging with the “startup ecosystem” during Monday’s FinTech Day. Jack’s article offers a great summation of Declan’s perspectives — and for today’s post, I simply wanted to recap the event as a whole. The fun for our team started well before the doors opened at 9:00; however, FinTech day kicked off with:
- A number of video shoots in the NASDAQ studio that we will post to BankDirector.com;
- Continued with a live-streamed discussion focused on innovation with Declan and me; and
- Wrapped up with a closing bell ceremony and a lot of great company logos rotating on the exchange’s video board in Times Square.
FinTech Day, a collaboration between Bank Director and NASDAQ OMX, attracted over 40 participants from 30 financial technology companies. For those of you that joined us, I am pleased to share the link to the official photo gallery from the ceremony. We are happy to send over any that you’d like as our way of saying thank you for joining us. Simply leave a comment below, reach out via LinkedIn or Twitter and let me know what you’d like. Below, some of the pictures in the gallery…
Before wishing everyone an Aloha Friday, let me thank the entire Bank Director team — and in particular, Kelsey Weaver, Laura Schield, Michelle King, Mika Moser, Jack Milligan and Joan Susie — for your efforts to make the day a success. Each of you contributed something special and for that, I am very appreciative and already getting excited for next year (dare we call it FinTech 2.0)!http://wp.me/p3ajpF-zO As our editor, Jack Milligan, writes in How One Large Bank Fosters Innovation, ”conventional wisdom holds that banks are not very good at innovation — and large banks, with their entrenched bureaucracies and clumsy legacy systems, are probably worst of all.