places on innovation and its importance . The company ’ s rapid R & D ( research and development ) capabilities are essential to driving stakeholder value . The flexibility and innovative mindset that this requires are reminiscent of a startup ’ s approach and Raedeke states that this is intentional . “ One of the strategies that I ’ ve used is to ( imaginatively ) step outside of the company to look at a problem from another perspective . I think ‘ what would a fintech company do ?’ ‘ What would a tech-first company do to solve this problem ?’.”
While establishing the right objectives for technology and the right culture for innovation is critical , it is also foundational to have a unified map of the domains for the core business . “ If we are trying to optimise a process — let ’ s take the Workers Comp claim process , for example — it can be helpful to understand it as a macro workflow ,” Raedeke says . “ Obviously it starts when the claim is filed , ends when the claim is closed and has many steps in between those points . The process gets really interesting when you discover and map
169 www . fintechmagazine . com