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The tale of our Innovation Process- Mobex
Well the question has been revealed and the Challenge open for a week now and it’s been a busy one; promoting the Challenge, getting materials out to schools and profs, Twittering, answering student emails and speaking to student groups. If you think there’s an opportunity to speak to your class or club about Innovation and the challenge get in touch and we’ll see what we can do! (email nextgreatinnovator@rbc.com)
It’s been a good week for the Applied Innovation team overall. Two of our team members were recognized at the RBC awards gala (I’ll write about that later) and a really exciting pilot was launched. RBC Mobex, the mobile payments service made its debut on Sept 22. Mobex allows anyone who registers to send small payments via the text messaging feature of your call phone. It’s a very simple service which is going to have a big impact. Mobex is important to the AI team since the idea first got traction with us! My boss, Avi Pollock seeded the idea of mobile payments and pay-by-text a few years ago. At the time it seemed like he was gazing into a crystal ball and the idea met with a receptive but skeptical audience. Avi stuck out the Innovation process, gaining support, providing further insight from research and cross industry examples and finding executive sponsorship through our Innovation Council. Several aspects were put into the lab for proof of concept testing, allowing the RBC group interested to be well informed about something totally new as they formed a strategy. The idea became a full project anchored with the business sponsor and Avi stepped back to take a role as advisor and SME; this is the way it goes within our process. When we successfully move an innovation though the process we have to give it up! But we do so happily knowing that the business sponsor has the ability to take the innovation to market; we enable them and in turn they enable the bank. We find bank context, test, and incubate; they pilot, refine, institute and grow the innovative new product, process or capabilities.
Currently Mobex is in a public pilot mode; a great example of developing by experimentation. It’s been opened up to RBC staff, friends and family, but with Mobex making it so easy to send a few dollars we know it will spread. It’s over 1400 users already! Have a look at the end output of the Innovation process and let us know what you think- we're all friends of Innovation so feel free to try it!
A mini review of Mobex courtesy of Yeah I'm a Geek.com
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About
The Innovator Blog is your inside source for advice and guidance on the RBC Next Great Innovator Challenge™.
Recent Posts
- Registration Extension! Now open until Midnight Oct 31
- Website update and our new INNOVATION COMMUNITY
- Kick off Questions and Answers
- The tale of our Innovation Process- Mobex
- The Third Challenge has been revealed!
- WOW! It’s year 3 of the RBC Next Great Innovator Challenge!
- And the Winner is...
- Hooray for the undergrads!
- Back from our break
- Moving from presentation 2 to 3
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