Banco Sabadell bets on internal innovation to co-create new products and services in banking
Banco Sabadell uses the community 'BS idea' to promote internal innovation and new product and services co-creation in the banking industry. The community was launched ten years ago and has generated quick wins like an idea that has produced 1.5 Million euros in recurring annual profit for the bank.
'BS idea' had its tenth anniversary in 2019 confirming itself as a mainstay for idea generation for new projects within Banco Sabadell. The community has enabled the bank to create an element of collaborative intelligence with its employees, who in this time have shared over 28,000 ideas to grow their business, and disruptive and evolutionary innovation. More than 90% of employees have participated in the community, which has also revealed itself as an important channel for cultural change. Employees co-create ideas through crowdsourcing, regardless of their position and rank within the organization, breaking up silos and connecting the bank’s various branches in different geographical locations.
Download the case study (pdf) to discover Banco Sabadell internal innovation program in banking
“One implemented idea alone is producing 2 Million euros in annual profit”.Miquel Anduig
‘BS idea’, a driver for cultural transformation in Banco Sabadell
The innovation community 'BS idea' is also a powerful tool for cultural change and to break up silos. “It teaches very interesting values for the entire organization, such as co-creation and transparency, particularly useful in large companies', states Rubén Hernández, the project director. The community also opens the door to disruptive and out of the boxthinking regarding the detection of internal talent and intrapreneurship profiles.