{"id":1136,"date":"2017-02-20T07:50:03","date_gmt":"2017-02-20T07:50:03","guid":{"rendered":"https:\/\/blogs.scu.edu\/finis\/?p=1136"},"modified":"2017-02-20T07:50:03","modified_gmt":"2017-02-20T07:50:03","slug":"bankthink-rather-than-copy-startups-banks-need-their-own-innovation-model-2","status":"publish","type":"post","link":"https:\/\/blogs.scu.edu\/finis\/2017\/02\/20\/bankthink-rather-than-copy-startups-banks-need-their-own-innovation-model-2\/","title":{"rendered":"BankThink Rather than copy startups, banks need their own innovation model"},"content":{"rendered":"<p>Should a large corporation model its information system or structure the same way a Startup does?<\/p>\n<figure style=\"width: 520px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.fisglobal.com\/-\/media\/FISGlobal\/Images\/Logos\/Empowering-The-Financial-World.png?la=en&amp;hash=E0232ECD59FC7CA7A045E99184FDE813ECF872AC\" alt=\"https:\/\/www.fisglobal.com\/-\/media\/FISGlobal\/Images\/Logos\/Empowering-The-Financial-World.png?la=en&amp;hash=E0232ECD59FC7CA7A045E99184FDE813ECF872AC\" width=\"520\" height=\"203\" \/><figcaption class=\"wp-caption-text\">https:\/\/www.fisglobal.com\/-\/media\/FISGlobal\/Images\/Logos\/Empowering-The-Financial-World.png?la=en&amp;hash=E0232ECD59FC7CA7A045E99184FDE813ECF872AC<\/figcaption><\/figure>\n<p>Well according to this <a href=\"https:\/\/www.americanbanker.com\/opinion\/rather-than-copy-startups-banks-need-their-own-innovation-model\">article<\/a>, the author claims you shouldn&#8217;t and I agree. The article stresses that current corporations are attempting to innovate or model their systems by using this analogy of &#8220;throwing mud at a wall, slowly and expensively.&#8221; Meaning using different methods without much planning at a slow and expensive rate.<\/p>\n<p>How does this relate to Financial Information Systems? Well for one, FIS systems should not be treated like a Startup app such as Snapchat. FIS systems especially ones used in the banking industry must be well planned and tested. The Startup methodology of quickly releasing a product to market and releasing updates to fix bugs and glitches is a poor method for banks that house sensitive and confidential customer information.<\/p>\n<p>It&#8217;s understandable, thats companies such as banks would want to quickly release new services or updates to their system like a Startup but when it comes to Financial Information Systems and a business organization like a bank in which hackers are constantly looking for loop holes in their security. The model of &#8220;build, measure, learn&#8221; cannot be used for the FIS. Rather Financial Information Systems should learn, measure, then build.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Should a large corporation model its information system or structure the same way a Startup does? Well according to this article, the author claims you shouldn&#8217;t and I agree. The article stresses that current corporations are attempting to innovate or model their systems by using this analogy of &#8220;throwing mud at a wall, slowly and &hellip; <a href=\"https:\/\/blogs.scu.edu\/finis\/2017\/02\/20\/bankthink-rather-than-copy-startups-banks-need-their-own-innovation-model-2\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">BankThink Rather than copy startups, banks need their own innovation model<\/span><\/a><\/p>\n","protected":false},"author":1820,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"link","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1136","post","type-post","status-publish","format-link","hentry","category-uncategorized","post_format-post-format-link"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"jalfonso","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/jalfonso\/"},"qubely_comment":0,"qubely_category":"<a href=\"https:\/\/blogs.scu.edu\/finis\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","qubely_excerpt":"Should a large corporation model its information system or structure the same way a Startup does? Well according to this article, the author claims you shouldn&#8217;t and I agree. The article stresses that current corporations are attempting to innovate or model their systems by using this analogy of &#8220;throwing mud at a wall, slowly and&hellip;","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1820"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1136"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1136\/revisions"}],"predecessor-version":[{"id":1139,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1136\/revisions\/1139"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}