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Innovation Maturity Inventory
Please complete this short survey to help us understand your current situation and approach, and your top priorities and challenges in innovating. We collect this standardized data from institutions across the country and periodically share the anonymized aggregated results in our industry reports. Please enter your email to receive your results.

Clients and members who include their Institution Code will receive a confidential custom report on their current state of innovation maturity, and we encourage multiple responses from each institution for better aggregated results.

We can also help you establish foundational frameworks for funding, governance, and risk management of the innovation process and help you prioritize and map your current projects and ideas in a comprehensive portfolio approach.

Institution Code - Members and clients, please enter your Institution Code, otherwise please skip
Your answer
What best describes your position at your financial institution? *
How would you BEST describe the DEPTH of your organization's innovation efforts to date? - 1 = Practically nonexistent; 2 = We have some innovative people and/or teams here and there; 3 = Most of our innovation efforts are driven by those closest to the customers; 4 = Most of our innovation efforts are driven from the top down; 5 = We have both top-down and bottom-up innovation efforts, and they are both strongly supported by middle management *
How would you BEST describe the BREADTH of your organization's innovation efforts to date? - 1 = Practically nonexistent; 2 = We have some innovative people and/or teams here and there; 3 = We are strategically focusing on our innovation efforts on one or two key business units; 4 = We are spreading the best innovation practices to other business units; 5 = We have several business units who innovate consistently, and we are working on coordinating efforts and creating efficiencies across the enterprise *
How would you BEST describe the CONSISTENCY of your organization's innovation efforts to date? - 1 = Practically nonexistent; 2 = This is new for us, or we have had a lot of starts and stops; 3 = We have seriously committed to innovation within the last 12 months; 4 = We have been focused pretty consistently on innovation for the last few years; 5 = We have been consistently committed to innovation, through up and down cycles, for nearly a decade or longer *
How would you BEST describe your organization's RISK MANAGEMENT approach in regard to implementing new ideas? - 1 = We are definitely laggards, 10 year-old ideas still seem scary to us; 2 = We are definitely very cautious, and any new ideas need to have very low risk of failure; 3 = We are not big risk-takers, but we also know that there is risk in not taking some manageable risks to try new things; 4 = We are comfortable working on both lower and higher risk projects, and we manage them on a risk-adjusted basis; 5 = We are taking a active portfolio management approach to innovation, with multiple projects all along the risk/return spectrum, and we actively measure and monitor our performance *
How would you BEST describe your organization's approach to EXPERIMENTATION? - 1 = We only launch products/services that are nearly universally accepted as industry standards; 2 = We have a very robust risk, compliance, and project management approach that allows us to only launch products/services that are very thoroughly screened and vetted; 3 = We have a robust risk, compliance, financial, and project management approach, but we are working on finding ways to take a "lite" approach on certain aspects in certain cases where it makes sense; 4 = We have multiple clearly-defined paths to quickly test new ideas that are scalable to the size of the risk and opportunity, and we are comfortable releasing a safe and workable product to customers, even if we haven't finalized all of the features or benefits; 5 = We are very adept at defining and testing key hypotheses, and we test ideas early and often, and in multiple ways; with a bias towards getting them into the hands of paying customers quickly, rather than perfecting all of the details in advance of a big launch *
How would you BEST describe your organization's SPEED of launching new ideas? - 1 = We are very slow, almost everything we do is measured in quarters or years; 2 = While big projects naturally take longer, we log a notable success just about every quarter; 3 = We celebrate several success every quarter, and we are consciously trying to get faster; 4 = We consistently have an impressive list of new things implemented every quarter, and we are finding ways of getting smaller wins on a monthly basis; 5 = We are focused on speed as a differentiator, and we are constantly pushing ourselves to go faster without a slip in quality. We want to measure much of our progress in weeks or days. *
How would you BEST describe your organizations' orientation on DATA-DRIVEN decision making today? - 1 = Just about all of our decisions are made by our experience and judgement, mostly by our senior management; 2 = We see value in data and are taking some early steps to get more hard data to help guide our executive decision making; 3 = We have pretty good data from certain products or business lines that have enabled us to glean meaningful and actionable insights, but we still rely heavily on our experience and judgement; 4 = We are getting pretty good at discerning the different levels of value from various pieces of data; and this has allowed us to make increasingly better and decisions at all levels of the organization; 5 = We value our experience and judgement, but we have built a culture of "strong opinions, loosely held"; relying on data to build and strengthen our opinions, and we are comfortable changing our minds quickly. We have an insatiable appetite for higher quantities of highly reliable data to help us make even better decisions faster. *
How do you predict others in your organization would answer these questions? - 1 = There will be a wide range of answers, or I have no idea how others would answer these questions; 2 = We we will probably have a pretty wide range of answers because we're all starting from different places and we don't know what we don't know yet; 3 = We are working through some of these things and we've made some progress, but we know we still have some work to do to all be on the same page. Most of the answers should all point in similar directions; 4 = We are still working on tightening our internal alignment, but we are all pretty much on the same page. I expect only minor differences in answers here and there; 5 = We have spent considerable time on alignment, and I am highly confident that almost all of us would answer these questions in a very similar way. *
On a scale of 1-5 (with 5 being the highest), in which parts of the INNOVATION PROCESS does your financial institution struggle the most? *
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Gaining executive sponsorship and buy-in to prioritize innovation
Market intelligence/keep up with new ideas in the market
Identifying new opportunities/pain points that may need new solutions
Discovering/generating new solutions to meet opportunities or resolve pain points
Evaluating/prioritizing which ideas and solutions to take action on
Developing a proof of concept or prototype to validate an idea
IT integration for outside solutions
Vetting ideas through Compliance/Risk Management
Running a pilot to test an idea with a small number of customers
Commercializing pilots into new products
YOUR CURRENT INNOVATION PRIORITIES
On a scale of 1-5 (with 5 being the highest), what are your institution’s BUSINESS PRIORITIES for innovation? *
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Enhancing existing product or channel strategies
Acquiring new customers
Retaining/engaging existing customers
Cross-selling or expanding wallet share
Building a culture of innovation
Transforming digitally (customer’s user experience, mobile, etc.)
Reducing costs/improving productivity
Security/risk management
Using internal data & analytics
Back office procedures
Meeting regulatory/compliance requirements
(Optional) On a scale of 1-5 (with 5 being the highest), how are you prioritizing the following BUSINESS LINES OR CUSTOMER SEGMENTS for innovating new solutions?
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Consumer payments
Affluent customers
Wealth management/Asset management
Small businesses
Middle market businesses
B2B payments
Mass market consumers
Large commercial enterprises
Treasury management services
Low to moderate income/underbanked consumers
1-4 Family residential real estate
Home equity loans/lines
Commercial real estate
Insurance
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