Wednesday, May 12, 2010

Finovate, 24 hours on

Anyone that took a look at my blog yesterday must have wondered what the hell was going on. A mad, semi-literate ranter appeared to have taken over. So I apologize now to anybody that started reading my posts out of context. I was at Finovate, the mad financial innovation conference where the audience is bombarded with presenters, much like speed-dating on stage. With every company having just 7 minutes to run a live demo, the value of a crisp, clear, jargon free message was essential. As you can see from my posts, some of the companies understood the value of talking to the audience in terms that made sense, and others let their Chief Marketing Officer on stage with a game of marketing buzzword bingo. From many of my posts, you can see that I barely managed stream-of-consciousness writing in the 7 minutes per demo, so a clear demo helped me formulate my thinking and a clear post is a good indication of a clear presentation (although sometimes the confusion from the previous demo leaked over into the next one).

The consensus from the crowd at the end, a little more relaxed with a beer or cocktail in hand, was that big well-established companies struggle with the innovate products and in the free for all innovative setting such as Finovate, purely because they have set themselves too many rules and feel too constrained. More bullish startups think they can change the world, and will hammer on a problem (such as regulatory approval) until it just goes away.

So we can expect XBox playing teenagers to be investing in mutual funds and planning their retirements using some previously unheard of service before the big banks have even worked out how to engage their customers on Twitter.

For those of you that read my blog regularly, its back to regular service from here on in. Thanks for bearing with me!

A post from the Improving It blog

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