Matchi Bank Members experience the power of real innovative collaboration, thinking and action.
The inaugural Matchi Innovation Sponsor Summit took place in South Africa from 2-5 December 2014. This unique event brought together selected non- competing banks to explore different techniques of innovation in the finance industry, with peer professionals from across the globe. Each day of the summit focused on different challenges faced by banks in driving their innovation agenda forward.
The objectives of the summit were:
- To share and showcase innovations with cross pollination potential.
- To discuss potential collaborations between non-competing banks.
- To explore partnership opportunities with 6 leading fintech firms from around the globe.
John Campbell, Head of Corporate Venturing, Standard Bank South AfricaFor me the Summit was a great demonstration of the power of collaboration under the right circumstances.
The summit started midday on Tuesday the 2nd of December where participants from Africa, Middle East, Europe, UK and Australia gathered at the Cape Grace hotel in Cape Town to enjoy legendary Cape hospitality and the first innovation workshop where each bank shared their unique approach to innovation, innovation priorities and their failures and successes to date.
Claire Rogers, Head of Digital Strategy and Innovation, ANZThe conference was a great opportunity. It was exciting to hear different perspectives and share innovative solutions in markets outside my own.
Bright and early on Wednesday the 3rd of December, all the participants boarded the iconic Blue Train for a 30-hour innovation journey across South Africa. Whilst on board, the workshops continued in the exclusive conference carriage where participating banks shared actual innovations that they have already launched as well as those in the pipeline. Banks also identified potential collaboration opportunities and key learnings.
Nadav Yur, Head of Enterprise IT Portfolio and Digital Strategy, Bank HapoalimThe carefully chosen team and the intimate organization enabled a high level of transparency and commitment for honest knowledge sharing and problem solving of real challenges. I returned charged with new ideas and potential collaborations with like minded and open minded innovation experts.
When the Blue Train arrived in Pretoria on Thursday 4th of December, all participating banks were shuttled to the Four Seasons, Westcliff in Johannesburg. The afternoon was spent with the Top 6 winning fintech firms of the 2014 Matchi Fintech Innovation Challenge who had the opportunity to individually present their solutions and capabilities as possible innovation partners. The day ended with a beautiful cocktail party overlooking the Jacarandas followed by a group dinner where participating banks and innovators had the opportunity to meet and mingle in a relaxed social setting.
Andy Wilson, Director Business Development and Operations, Standard Bank Group MobileAttending the first Matchi summit was a real eye opener. Being in a melting-pot with ground breaking Fintec companies and global friends from non-competing banks and other industries, facilitated real innovative collaboration, thinking and action. This is an important initiative in our industry and the experiment is already demonstrating its value to our organisation.
Friday, the 5th of December started early for the participants who made their way to the Standard Bank head office for the inaugural Matchi/Standard Bank Fintech Innovation Showcase. Held in the auditorium, the showcase highlighted the exciting future of financial services with 28 cutting-edge demos and presentations by leading fintech firmsfrom South Africa, India, Chicago, London, San Francisco, Zagreb, Tel Aviv, Boston and Dublin. In the audience were the participating banks as well as leaders and Fund Managers from the Standard Bank innovation team who were all on the look-out for possible collaboration and partnership opportunities with innovative firms.
John Campbell, Head of Corporate Venturing, Standard Bank South AfricaThis type of ideation and sharing can never take place in a formal and rushed meeting environment. We felt relaxed and safe and this allowed the creative juices and spirit of cooperation to work at full tilt both on the train and back at base. It was a couple days of real focus. The value created was tangible and enduring as evidenced by the constructive dialog and projects which came from the Summit.
The Summit ended with a final workshop attended solely by the participating banks, during which the group agreed on specific projects and opportunities to collaborate on. We look forward to sharing the progress of these partnerships and collaborations as they progress in the new year. We are also excited about doing it all again in 2015. The Matchi team is currently in discussions to host the summit in a different country in Q4 for 2015.