Bank executive on the benefits of innovation system

DNB is Norway's largest financial services group with total combined assets of approx NOK 2 trillion. I was one of the three principal architects—alongside Vegard Dypås Hansen and Dan Toma—of the DNB Way of Innovation, an end-to-end innovation system based on reality.

Ingjerd Blekeli Spiten, Group Executive Vice President Retail banking at DNB, gave an interview in a Norwegian magazine Kapital* on the benefits of the innovation system we've implemented:

Q: Are you innovative enough as a leader? And what should other Norwegian leaders do to become more innovative?

A: I think I'm quite creative, but whether I'm innovative enough I think depends on the situation. My roles are first and foremost to create a climate, and a platform, for innovation. We have established an innovation system now, with great success. There we get tested all new ideas systematically and thoroughly, so that we quickly see what should be worked on further, and what should be shelved. Everything is documented, so that we avoid that ideas that come up again and again have to be tested again every time.

An example of such an idea that has come up again and again, are digital receipts. I too have many times thought that it is a good idea, but it turns out that there is no need for it. The customer does not need to store this with the bank. The same goes for digital safes. But such ideas sound good, and if you do not test them well enough and document the process, then you can never completely put them down.

To other Norwegian leaders, I would say that it is important to surround yourself with people who think differently than oneself.

I've published a number of pieces on corporate innovation, and here are three selected articles that focus on approaching innovation as a system:

Doing and managing innovation

What is the difference between doing and managing innovation, and why should you care?

Bruno PešecBruno Pešec

Divide and conquer

Is dividing yourself in order to innovate a prudent strategy?

Bruno PešecBruno Pešec

A slice at a time

Breakthrough innovation happens more often within a culture that fosters everyday innovation.

Bruno PešecBruno Pešec

Get in touch if you want to achieve results:

Work

Bruno Pešec helps business leaders dramatically increase returns on their investments in innovation.

Bruno PešecBruno Pešec

*Excerpted from DNB-sjef: – Vi har hatt et læringsutbytte lik to år på tre måneder. Translated by Google Translate. Photograph by Stig B. Fiksdal.