Question

What is breakthrough dilemma in innovation?

Answer 1

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With the further popularization of Mobile Internet and the gradual downgrade of financial industry access threshold, Internet enterprises represented by BAT (Baidu, Alibaba, Tencent) have rapidly penetrated into the financial sector through various methods. Featuring the desperate pursuit of client experience and product innovation, they have brought increasing challenges to traditional financial institutes.  No longer merely as channel and technique, the Internet has been gradually integrated with product and service to form a new financial mode and establish a unique system in risk identification and control.

Financial institutions including banks, securities firms and insurance companies are in need of innovation mechanism remould to distance from the dilemma of lack of innovative capabilities, finally achieving the transformation and upgrade of product and service.

Deloitte Consulting especially released the whitepaper to provide solutions. It introduces Deloitte’s all-round implementation experience in innovation strategy plan, innovative organization structure design, innovative product design and product life cycle management to help financial institutes achieve an overall improvement in innovation capabilities.

Answer 2

✨Breakthrough innovation is defined as an innovation from inside a company that pushes something to the next level. It is innovation that opens the company to new markets or changes the way customers interact with the market or the industry.✨