Revolution in the banking world: innovation

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For several years now, the banking industry has been undergoing a double revolution

First of all, in terms of usage, with the arrival of the “neobanks” as they are called (Révolut, N26 or Neon Free for Switzerland). Their core business is to revolutionise your relationship with your banking services: making them closer and more accessible, so you are (finally) put at the centre of concerns.

The second revolution is more of a technological nature, with major technical advances such as Blockchain, a highly encrypted list (chain) of records (blocks) that serves as a digital register to record and validate transactions; Artificial Intelligence, which is able to simulate intelligence ; Machine Learning, where a system can learn by itself independently of input data; Chatbots, also called conversational agents which can chat with users in real time; and finally Big Data, which can manage data going beyond intuition and human analytical capacities, enabling banking players to rethink their services and their businesses.


These two revolutions have one thing in common: Innovation. Whether in Business Models, Services or Technology, it is a gigantic train that has been moving forward for only a few years. The innovation approaches have in common that they are centred on users and use iterative cycles.

The «Design Thinking» methodologies from which the User Experience (UX) or Customer Experience (CX) emanates, are put in synergy with those of the «Business Model Canvas» or Value Proposition Canvas (Alex Osterwalder & Yves Pigneur) to rethink the banks and services of tomorrow.


The stakes, previously crystallised around the mastery of IT-related complexities, are now reaching the field of service quality and the value rendered to the customer in a systemic approach. The recent acquisitions of Frog by Altran, Fjord by Accenture and Lunar by McKinsey are proof of the interest of major consulting groups in the fields of design and innovation.

Traditional «Banks» are no longer being outdone and several of them have already set up User Experience and Innovation departments where multidisciplinary teams imagine the services and businesses of tomorrow.

The biggest challenge financial companies face is to rethink their offers in depth and to break down both their silo mentalities and how their systems are organised. However, if they succeed in meeting these challenges, their impact will be an incredible asset for them.


Screenshot credit: Viméo

Michel Schwarz Michel Schwarz

Porteur d’une expérience de 20 ans dans le monde bancaire dont plus de 5 ans en tant que responsable des environnements de test. J’ai acquis de part cette dernière activité de fortes compétences organisationnelles d’équipes de support et d’une excellente vision du fonctionnement des flux des applications financières. Ma capacité d’analyse, d’initiative et d’être à même de gérer les situations stressantes, me permettent de faire les bons choix dans une situation de crise. Ma motivation est d’apporter la solution adéquate à un problème et d’en retirer une grande satisfaction lors de sa résolution. Je place la réussite du travail d’équipe comme primordiale dans une entreprise et comme le dit l’adage « se réunir est un début, rester ensemble est un progrès, travailler ensemble est une réussite ».

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