Element 1: The process of categorizing innovations and putting them on the right track
Not every idea is obvious. Nor are they all worth pursuing. And not all ideas can be tackled in the same way. This is why PostFinance has adopted a well-structured innovation process that categorizes innovations and puts them on the right track. The financial institution generally differentiates between three horizons depending on the degree of innovation and the impact that it’ll have on its own core business:
- Horizon 1: the projects implemented here aim to develop and improve existing solutions in the core business (for example, new functions in e-finance).
- Horizon 2: this focuses on the development of digital solutions in the neighbouring core business that promote PostFinance’s transformation into a digital powerhouse (for example, a digital login procedure via fingerprinting and facial recognition and without the yellow card reader).
- Horizon 3: new business areas and models outside of the current core business are developed here. These projects have an experimental or pilot character (for example, the Blockchain project “B4U” of PostFinance and Energie Wasser Bern).