Innovation in Financial Services and Banking
In so many financial organizations, regulations and oversight require employees to adhere strictly to existing processes. The norm is that seniority dictates what and how things are done. The toxic culture commonly found in Fiserv organizations discourages quality and innovation.
- If an employee has an idea, why would he share it if he fears a reprimand?
- If only the people at the top make the rules, why would employees risk making things better?
- If employees are demanded to ONLY do their job description, why would they volunteer to fix a problem?
- Is it possible for the lower ranks to work in harmony with senior management to bring forth improvements?
There are ways to allow innovation in a highly regulated environment. Alfred has repeatedly brought to light opportunities to make things better across business, technology, quality and operations in multiple Fiserv organizations. Even as a liaison to Federal Reserve auditors, his new processes were applauded. Learn from Alfred how to allow innovations while still drawing between the lines.