(Translated by https://www.hiragana.jp/)
Understanding the value of design thinking to innovation in banking
IDEAS home Printed from https://ideas.repec.org/a/ris/jofitr/1619.html
   My bibliography  Save this article

Understanding the value of design thinking to innovation in banking

Author

Abstract

With the advent of Finntech, the banking world has been confronted with the method of design thinking, a proven method for solving wicked problems. Design thinking unleashes creativity and supports developing innovative solutions that are desirable (customers are interested in buying), feasible (banks can deliver upon the promises made), and viable (banks can make a profit). It puts the customer center-stage and focuses on satisfying customer needs and understanding customer jobs-to-be-done. Through its iterative approach, design thinking delivers differentiated and superior solutions, both from a functional and an emotional perspective. By observing customers in their natural environment, prototyping and validating ideas, design thinking ensures that developed solutions work. This article discusses how design thinking can aid in making banking more innovative.

Suggested Citation

  • Diderich, Claude, 2018. "Understanding the value of design thinking to innovation in banking," Journal of Financial Transformation, Capco Institute, vol. 48, pages 64-73.
    • Handle: RePEc:ris:jofitr:1619
    as

    Download full text from publisher

    File URL: https://www.innovate-d.com/wp-content/uploads/2018/12/dt-value-in-banking.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. SITEA Daria Maria, 2020. "Digital Banking. A Current Dilemma Solved Through The Design Thinking Method," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 229-240, December.

    More about this item

    Keywords

    Innovation; Banking; Design Thinking; Creativity; Observing; Learning; Designing; Validating; Desirable; Feasible; Viable;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:jofitr:1619. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Prof. Shahin Shojai (email available below). General contact details of provider: http://www.capco.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.