SWIFT Launches Open Innovation Initiative

Building on the success of Innotribe at its user conference, Sibos, in Hong Kong last year, financial messaging consortium SWIFT has launched Innotribe.com. True to Innotribe’s promise to enable collaborative innovation, this new idea management tool, together with a decisive and agile tracking and screening process, provides the infrastructure to share, discuss, select and develop ideas to shape the future of the financial industry.

Live as of 11 February 2010, www.innotribe.com allows participants to submit their ideas related to innovation in the financial industry. Ideas can cover new products and services or enhancements thereof, as well as business processes and initiatives.

“We are thrilled to launch Innotribe.com. Innovation is a shared responsibility and this tool is a great step forward in bringing together the collective creativity of our community. We want to facilitate the process of idea management, and be the driver that enables ideas to grow into bona fide business projects,” said Kosta Peric, head of innovation, SWIFT

Innotribe.com uses a cloud-based idea marketplace software application from Brightidea.com. Designed specifically for the collection, tracking and management of ideas, its voting capabilities enable participants to select which ideas should be considered for further investment and development through proofs of concept; and potentially in which projects they wish to play a role.

With this new application, SWIFT aims to streamline and formalise the process, while enhancing transparency on what happens with submitted ideas.

A team of SWIFT people from different regions and professional backgrounds, have been given the mandate to regularly monitor Innotribe.com and pre-select new ideas. This group will ask the owners of selected ideas to pitch their proposal to a group of senior decision-makers. Which individuals are ultimately involved will depend on the topic to which the idea relates.


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