Nedbank Group Technology (GT) has launched an Innovation Lab which aims to keep the group up to date on new trends and ideas in the banking world.
The new offering will allow Nedbank staff to unleash their creativity and entrepreneurial spirit to experiment with new technologies, trial their business ideas, and initiate product concepts. The Innovation Lab, which has been in the pipeline since 2011 has recently been launched to employees, and to date 1 500 staff members have used the facility.
Mike Brown, CEO of Nedbank, says: “Innovation is a key component of Nedbank’s strategy to be Africa’s most admired bank, and this requires that we innovate at every level in the organisation. Continuous innovation is a cornerstone of building any long term sustainable business – every day we have to focus on how we can improve what we do for our clients and our bank.”
Fred Swanepoel, CIO of Nedbank, adds: “We are thrilled to have such a tangible mark of our progress which we hope will inspire and stimulate our staff. The objective was simple: for Nedbank and GT to be synonymous with innovation and first-to-market. By collaborating across Group Technology and Nedbank, and continuously improving processes, the goal was to find ways to land ideas sooner, better and faster.
“A strategy of co-creation between the business, GT and our clients was developed so that we could identify, develop and execute innovative opportunities. At Nedbank, we understand that innovation needs to touch a broad spectrum of areas, from the customer experience to products, processes, technology and marketing.”
The inaugural Innovation Lab is situated at 105 West Street, Sandton, Johannesburg. It is hoped the creative environment will birth innovative ideas that are vital in identifying new ways of doing and growing business.