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Banking on Digital Growth Podcast

Phone a Friend: The Necessity of Collaboration in Innovation (with Jonathon Taylor)

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Brief Summary of Episode #257

We may be entering a digital golden age of collaborative innovation in the financial space.

Smaller financial institutions and fintechs all over the world are coming together to bring revolutionary ideas to life.

But so many other brilliant concepts never even find a heartbeat. Why?

“Everybody has an innovative idea,” said Jonathan Taylor, CEO at CU Sol. “and either they’re afraid others won’t think it’s good, or they don’t know where to start.”

Fear of failure is perhaps innovation’s greatest adversary. But it’s not just individuals who struggle with it - organizations can be handicapped by it, as well.

“The thought thread is it would take too much time, it would be too difficult, and we would make too many mistakes,” Jonathan said. “We’ll just wait until somebody else comes up with it.”

But by coming together and sharing ideas with people we trust, we can bring innovation to life.

“Call somebody today and share it with somebody else and see what happens,” Jonathan suggested. “And you know who to call. You’re thinking about them right now.”

Through collaboration, we can harness innovation.


Key Insights and Takeaways

  • Collaborative projects like the CU Safe domestic abuse program (5:53)
  • Innovating for ourselves versus a focus on helping others (11:02)
  • Why so many innovative ideas are left on the cutting room floor (19:55)

How to Connect With Jonathan Taylor

LinkedIn | Website