Open Innovation: Key Competitive Factor for Banks

By • on March 9, 2014

The website reports that the potential that open innovation yields for  banks has been captured in a new study released by GFT, a leading international IT solutions  providers to the financial sector. It’s increasingly important for financial institutions to differentiate themselves with innovative  products and services–including from new competitors. The GFT study, “Open Innovation in the Financial Services Sector – why and how to take action”, reveals how banks can deal with the new pressures of innovation. Momentum to change does not just come from within, i.e. from in-house development departments, but rather from external sources.

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