“ WHEN WE TALK ABOUT INNOVATION , IT ’ S ABOUT TRYING NEW THINGS AND GETTING OUTSIDE OF OUR COMFORT ZONE ”
JONATHAN CHAN HEAD , GLOBAL INNOVATION , JULIUS BAER
I ask him if the fact that Julius Baer is looking after CHF435bn ( US $ 498.2bn ) of client assets puts extra pressure on his team to validate before rolling out new solutions – after all , the consequences could potentially be costly if they didn ’ t follow the process through testing and validation . He replies coolly that every organisation “ needs to be conscious ” that they ’ re putting in place the right guardrails ahead of deployment , and engaging in real-world testing before making scale decisions .
“ We ’ ve recently created and launched an innovation sandbox ,” he elaborates . “ The idea was , we want to be able to engage with and learn from our client ’ s experiences with some of the new products that we ’ re building as quickly as possible .”
“ The idea is to test with a pilot group of clients so that we minimise any kind of risk that we might have , while at the same time ensuring all our security requirements are put in place as well for these clients to be able to easily interact with our new solutions , features that can be deployed , either in our mobile applications or on our web applications .
172 January 2024