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The Power of Open Innovation Platforms in Banking

Struggling to decipher which fintechs to partner with? Open innovation solutions getting complicated? Constellation Digital Partners’ Kris Kovacs breaks it down and how to make it work.

Published on October 2019 in Innovation Strategies

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Picture of Kris Kovacs at Constellation Digital PartnersFEATURING: Kris Kovacs, president and CEO of Constellation Digital Partners

Every financial institution is looking for the next ‘big idea’ or ‘next generation’ digital app that will differentiate an organization by making banking easier and deployment of products and services less costly. With most banks and credit unions unable to build this type of digital capability internally, it is vital to be able to reach out to the largest possible number of creative thinkers. In banking, one way to accomplish this is through a pool of fintech firms who are working on behalf of a community of financial institutions to deliver custom solutions that can be deployed at scale.

For a perspective on this relatively new way for fintech firms and financial organizations to partner, we’re joined by Kris Kovacs, president and CEO of Constellation Digital Partners. Kris and his team have built an organization focused on open innovation solutions for traditional financial institutions. In this episode, Kris will discuss his organization’s mission and the benefits of open innovation for fintech firms, financial institutions and the consumer.


About the Banking Transformed Podcast

In each Banking Transformed podcast, host Jim Marous has candid conversations with the world’s foremost leaders on what it takes to transform financial institutions during an age of digital disruption. His guests discuss technology, channels, innovation, customer experience, leadership, culture and competitive forces that are changing the banking industry faster than ever before.

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Jim Marous Profile PictureNamed as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the Digital Banking Report. The Digital Banking Report is a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers.

As a sought after keynote speaker, author and recognized authority on disruption in the financial services industry, Marous has been featured by CNBC and CNN, Cheddar, The Wall Street Journal, New York Times, The Financial Times, The Economist, The American Banker and has spoken to audiences worldwide. Jim has also advised the White House on banking policy.

For updates whenever new Banking Transformed podcasts are released, please sign up for The Financial Brand’s email newsletter. You can also follow Jim on Twitter and LinkedIn, or visit his professional website.

The Financial Brand is your premier destination for comprehensive insights in the financial services sector. With our in-depth articles, webinars, reports and research, we keep banking executives up-to-date with the latest trends, growth strategies, and technological advancements that are transforming the industry today.

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