How could we create (banking and financial) systems for the common good?
I was attracted to the event for a few reasons:
- The event was curated and facilitated by author of The New Marketing Manifesto and The Green Marketing Manifesto, John Grant, who's work I have been familiar with when I was a MA Business student. Grant wrote the best marketing "textbook" I came across. It was the closest I saw marketing "theory" come to placing people at the centre of product and service development and marketing;
- Co-production/co-design/co-creation looked to be keys theme to the day;
- The opportunity to think about how one might re-invent the banking and financial system. When I worked in business and management consulting, most of my clients were banks or financial institutions. They were all after disruptive innovation, paying more attention to the customer experience and using design to do this but also for innovation and transformation. But today's work shop threw up a whole bundle of issues, I have to say my previous work, largely overlooked. These issues had to do with sustainability, common good (though some of our projects were leaning toward ideas for community) and global issues (while some of the projects recognised the global context our projects weren't so focused on these issues).
But the day moved on at pace and continued with was lots of brainstorming of ideas and issues and John shared many stories of systems for common good that he's been identifying and researching for his forthcoming book, Co-opportunity (by the way, the book is being co-authored in a similar way to Charles Leadbeater's book We Think, which was done where people could access the progress of chapters and feedback to the author. Click on the following links to check out Co-opportunity and feedback to John).
We also shared many examples, of systems for common good, among ourselves. One of our tasks of the day was to come up with new ideas for banking and finance using existing systems/models and connecting them to a banking and finance context. Some ideas from the groups included:
- Mortgage pooling: An idea inspired by babysitting credits among a community of families where time credits are exchanged for babysitting each others children;
- Banks as museums: Thinking about the experience of banks like one might think of designing a museum to appeal to the five senses;
- Making banks more transparent: In the way Facebook is transparent with providing insight into the lives of our friends;
- Peer-to-peer recommendations for banks: Which reminded me a bit of Tripadvisor, Ebay or the way one can leave comments on Amazon.com.