Fintech companies have transformed financial services by introducing advanced solutions including robo-advising, digital payments, and open banking. Many fintechs evolve through reinvention and strategic flexibility, as seen in startups that shift focus and expand revenue channels over time. Larger firms like Broadridge and its fintech partners showcase how collaboration and innovation can fuel success across industries. With financial service firms increasing their tech innovation budgets significantly, it is clear that many now view innovation as a vital organizational capability.
Companies can apply key fintech strategies to enhance their own innovation capacity. Sustainable innovation refines current products, while disruptive innovation introduces new models and thinking. Both types require dedicated processes, leadership support, and structures that encourage experimentation and calculated risk-taking. Organizations should invest in identifying trends, studying competitors, and exploring new technologies. These efforts allow them to test ideas quickly and shift focus based on results. By repeating this process across departments, companies can remain competitive and uncover new growth opportunities, even amid significant industry changes.
