Banco Sabadell: how to make the social networks of ideas profitable
2nd july 2015. The relationship between Banco Sabadell and ideas4all dates back to 2009, when the Bank was the first company to implement an ideas social network by ideas4all Innovation Agora. From the beginning, BS Ideas has proven to be an important and profitable tool for the institution in terms of return on investment.
Its greatest contribution was to help understand that a body of experts is not the only group capable of knowing how to run a bank–all members of the organization have knowledge that can be of great use to show the way forward.
“One idea brought together two different products with amazing results: around two million euros in profit, surpassed year by year”. — Miquel Anduig, Director of Operational Optimization and Internal Social Network, Banco Sabadell
BS Ideas has also allowed Banco Sabadell to make its contribution to the ideas4all Clients Club, which it has been a part of for more than 5 years, a solid experience in open innovation through a digital tool. In addition, Banco Sabadell have evolved from a traditional internal innovation model to another where the entire company is participating and contributing not only small evolutionary improvements in traditional processes, but also other disruptive evolutions.
During the first year of the platform, the company already perceived a significant rise both in the number of ideas and in their quality, in comparison to other systems previously used to encourage innovation and internal collaboration.
Today, the company understands that BS Ideas is a fundamental communication channel that gives a voice to employees–who are in direct contact with the client in the bank’s offices; something of great value in a sector like the banking industry, characterized by highly atomized office structures.
In this sense, having an ideas social network by ideas4all Innovation has allowed them to develop a crowdsourcing culture where everyone working in Banco Sabadell feels part of the project.