Ahead of his presentation at the Chief Innovation Officer Summit in New York on December 11 & 12, we caught up with Jeremy Balkin, Head of Innovation for HSBC Bank USA.
Jeremy K. Balkin serves as Head of Innovation for HSBC Bank USA based in New York, where he serves on the retail bank management committee and is responsible for the fintech innovation strategy for North America. He is also the multi-award winning author of two books, Investing with Impact: Why Finance is a Force for Good, and Millennialization of Everything: How to Win When Millennials Rule the World. In 2017, Jeremy K. Balkin was named among the Top 35 Millennial Influencers in USA by the NBT Movement in Washington DC and received the Advance Global Australian Award from the Prime Minister of Australia. He has run six marathons and also received the UNSW Alumni Award for Achievement and been designated a Young Global Leader by the World Economic Forum.
What do you see as the biggest innovation challenges facing large organizations in 2017-2018?
The biggest innovation challenges facing large organizations are balancing the behavioral shifts in consumer behavior within the confines of influencing stakeholders to adapt to those changes from within the established organizational culture.
What are the key elements of a successful innovation strategy?
In my experience a successful innovation strategy is based on three pillars: External, Internal and Exponential. How you allocate time and resources to each pillar needs to be dynamic and fluid, while recognizing the cultural constraints within your organization or team to get the optimal outcomes for your customers and people.
Is there such thing as being ready for disruption and what can incumbents do to avoid it?
One thing I’ve learned in my career is that change is constant so you best embrace it. From my experience the best thing to do is focus less on the things you can’t control, and rather focus energy on the things that are real and present within your sphere of influence.
How has the use of digital and data technologies impacted the innovation process?
Data brings evidence-based truth to ask better questions, that lead to better answers that turn into better decisions.
What can our audience expect to take away from your presentation?
My promise to the audience is they will be informed and entertained and I hope they ask great questions because I always prefer my presentations to be open and informal for both of us.
You can catch Jeremy's presentation at the Chief Innovation Officer Summit in New York on December 11 & 12