Innovation can make banks invicible

21 Jan 2021

We have conducted a full opinion study with a panel of bankers as well as customers. The findings are showing that barriers to entry for banks, mainly retail banks have been greatly weakened. Trapped by their own regulations and attacked by digital companies, banks have to fight on profitability of their current business and find new opportunities through innovation.

Doing both is a challenge since they clearly have separated innovation and current business. In innovation they have set up incubators for startups, internal incubators, they have sponsored projects and hackathons, they have started to train staff to intrapreneurial culture, some have recruited startups founders and even created a department of innovation. All these initiatives have brought many benefits; however, the global result is that no significant, remarkable, and sustainable innovation has been noticed nor real transformation. While digital companies, despite their lack of profound banking skills, are gaining more and more clients.

Innovation should not be a department of the banks; the other sectors would feel excluded or even not concerned by innovation instead of being fully invested of this fantastic mission of transformation. We therefore strongly believe that innovation, as a mindset should be fully rooted in the day-to-day work.

In addition, Covid-19 crisis have created new banks’ pain points, and impacted customer’s journey. It is time to be innovative, to be creative.

Our purpose is to help banks to incorporate innovation as an essential part of the business in order to render them more invincible and above all the builders of their own future.


Redouan ZNAGUI

Beyond Horizons’ Founder & CEO

Advice, support, coaching in Finance, Strategy & Leadership


François FEIGE

ESSEC Business School Executive Coach & Professor,

International Investor




Marketing & Communication Lead (40+ markets)

Jury of ESSEC Business School



(*) To be published later