Disrupting traditional business models and commercializing fintech innovation

With more than 100 fintech startups launching in Canada since last August there’s no doubt Canadian consumers have more and more choice when it comes to how they want to handle their financial services.

And, Steve Mast, our President and Chief Innovation Officer, believes financial institutions can’t sit around resting on their current business models if they want to maintain the full scope of their existing business. And, they can’t simply pay lip-service to innovation because the greater fintech community is chipping away at their customer base by launching disruptive platforms and products.

At Delvinia, our consulting and innovation group has worked with a number of financial services firms over the years to help them create innovative experiences that add value for their customers. In fact, several of our clients have launched innovative new platforms, products and business models in recent months.

Using our innovation framework, our team recently worked with Green Shield Canada to create a digital platform for their SureHealth™ brand; a direct-to-consumer channel that provides a seamless customer experience with mobile at its heart.

We also helped a major insurance company launch a pilot program – which is currently being commercialized – that at its core utilizes a digital platform to help their customers plan for retirement. And, for another client – an international financial services provider – we helped to transform their organization through a redesign of their Canadian, US and UK websites by creating a fundamental shift in the way they engage customers.

In a new article for Marketing, Steve writes about how fintech startups and financial services companies are commercializing innovation to disrupt their traditional business models.

Steve also points out that fintech isn’t really a new phenomenon and technology has long been at the heart of financial services.

For more about what’s happening in fintech, check out Steve’s article on Marketing’s website.