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This company is one of the largest online banks in the country, with over $130 billion in assets under management. The Challenge A forward-thinking deposit team at the bank noticed there was a lack of new, innovative ideas coming out of the company, and their technology team could not answer their business problems. This was hindering their ability to stay competitive, especially since they are an online-only
bank.The Solution Skookum helped plan, build, and run an innovation studio that expands the bank’s foundational culture of innovative thinking in an unrestricted space. Our team helped set up the physical space and operating model, as well as staff Engineering and Studio Director positions. We continue to facilitate cross-functional ideation sessions, design and build prototypes of concepts from those sessions, then test them to learn and iterate quickly. Results The innovation studio is now fully operational, and the results that come out of each ideation session inform the bank’s product roadmap. There are members who work at the studio full-time, as well as designers, engineers, developers, and other participants who rotate in to assist with new projects and initiatives. - Planned and built a functioning studio in 30 days to facilitate rapid innovation and results - Tested dozens of new concepts that led to several winning solutions - Foster the bank’s culture of innovation to help them stay competitive