There was once a time when the term “silos” was a corporate buzzword coined to chastise internal departments in large organisations when they refused to collaborate with each other. This internal sharing caused a wave of change in most organisations, not without resistance. That was a simpler time.
Now, large organisations (like financial institutions) have extended this line of thinking to collaborating with single companies outside of their own in order to reach their strategic goal. Not without its complexities and risk, this transformation has laid the groundwork for another way of change: large organisations collaborating with companies outside their own to bring superior products and services to the consumer faster – helping complex organisations meet their customer’s expectations.
David Milligan, Matchi CEO, masterfully shared his perspective on the journey of innovation in the financial services industry in the foreward to this report. Our contributing Matchi firms echo his thoughts while sharing their own distinctive observations from each firm’s vantage point in this diverse industry.