What innovators Want … and How Banks can do More!
May 7, 2014
Austria’s Erste Bank has become one of the most successful banks to develop in the new markets of the CEE (central and eastern Europe). In particular they have focused on entrepreneurs. But most banks don’t serve entrepreneurs well. They are neither corporates nor individuals. They are seen as small and risky, regardless of their potential for growth and influence. In emerging markets, particularly, this stifles an economy.
My challenge was to define how Erste could become the bank for entrepreneurs. To help me, I had some of the winners of my “Gamechangers CEE” competition, which took place last year. They ranged from Blessus, the modular fashion brand from Poland, to Aeromobil, Slovakia’s flying cars (see previous blogs). I brought together the best ideas from around the banking world. In particular, focusing on Australia’s Commonwealth Bank, FNB in South Africa, and even Jack Dorsey’s Square that was inspired by his entrepreneurial brother, a artisan glassblower.
You can read about the “how banks can support innovators” model emerged, a blueprint for anyone who wants to create Entrepreneur Bank.
Email firstname.lastname@example.org to get my keynote presentation Banking for Innovators