Q4 2020

Benchmarking Innovation Initiatives in Financial Services

Q4 2020

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From late September through the end of October, we interviewed innovation leaders at 15 firms within the financial services ecosystem, including multinational insurance, reinsurance, global markets, mutual fund, professional services, and banking organizations — to benchmark their innovation and incubation activities.

With input from Innovation Leader members, we developed a list of benchmarking questions; conducted phone and email interviews with leaders throughout September and October; and then compiled their responses into a single spreadsheet to make it easy to compare staffing, mandates, metrics, and other data points. We also summarized the five key takeaways from this benchmarking research in a short overview document.

We agreed to profile the organizations anonymously so the leaders of these initiatives would feel comfortable sharing more openly. The tabulated profiles are available in the spreadsheet, organized by type of firm and by longevity of their innovation group. All firms are headquartered in the US or EU.

This report was produced by Innovation Leader at the request of our members.