How might we create the go-to retail bank of the future?

Market Foresight | Future-proof Innovation

 

Barclays launched an in-house innovation lab and has now invests in accelerators for startups

 

Barclays case study post it

The Challenge

Antony Jenkins, CEO of Barclays Global Retail Bank, had a problem. They had weathered the downturn, with share prices bouncing back, but he could see a new breed of competitor on the horizon. Google had a banking license, Facebook and Apple had micropayment systems.

Maybe Barclays wasn’t on a burning platform, yet. But it was on a flammable one and had to act quickly before somebody struck a match. His challenge to Sense Worldwide: Define the bank of the future, and create a roadmap from Me-Too bank to building a Go-To consumer brand.

 

The Outcomes

Barclays cleared a floor in their Canary Wharf headquarters and hired an army of innovators, technologists and designers.

 

The Result

Our research established a culture of innovation. This led to the formation of ‘Eagle Labs’, ‘Accelerator’, ‘rise’, ‘The female innovator’s Lab’ and ‘Black Founder Accelerator’. Barclays is continuing to find world-firsts by working with startups, rather than against them.

Our Approach

We embarked on an exploration of the opportunities for new kinds of banking. We quickly concluded that we had little to learn from the category itself. The high friction involved in changing bank accounts was a disincentive for customers to switch brands, or for banks to offer them anything new. Instead, we would need to look at the coming competition.

 

How Sense Worldwide Helped

What we learned from these startups was that they were single-minded in their approach. They were asking the right questions and tackling problems with a fresh perspective. We distilled this down for the Barclays team to provide a new way of thinking about the market.

  • Think like silicon valley entrepreneurs
  • Look at customers’ lives in the widest possible sense
  • Understand the critical problems Barclays can solve
  • Map current capabilities against future customers’ needs
  • Establish short, medium and long term goals
  • Roadmap technologies against emerging customer trends
  • M&A strategies to help buy capabilities

 

The best ExCo meeting ever… Sense Worldwide have given us exactly what we need.

Exec, Barclays

 

Future-proof your business in an era of disruption

Nike: House Of Innovation

How might we create the most innovative direct to consumer experience in the world?

Nike shop

Sonos: The Future of Voice Control

If we can't outspend Amazon, Google and Apple how might we out-think them?

Sonos speaker

Converse: The Chuck II

How might we innovate to make the world's best-selling sneaker better?

Converse Chuck II

PepsiCo: LIFEWTR

How might we innovate to create the next billion-dollar beverage brand?

3x Pepsi LIFE WTR bottles

Almond Breeze: Five Year Roadmap

How might we establish a lean and agile innovation function overnight?

Almond breeze products

Bupa: Designing for Future Customers

How might we leverage in-house analysis to develop a breakthrough proposition?

Bupa book

Pfizer: Nicorette Innovation Pipeline

How might we work more collaboratively to accelerate our speed of execution?

Nicorette

Blue Diamond: The Future of Almonds

How might we give the business foresight into future growth opportunities?

The future of Almonds poster

Barclays: The Future of Banking

How might we create the go-to retail bank of the future?

Barclays bank

General Electric: The Future of Refrigerators

Extreme Consumers. How might we discover our next competitive advantage?

Cocktail waiter making a cocktail

Cambia Health: The Future of Healthcare

How might we become the champion of America’s Quality of Life?

Cambia presenting findings
Nike Logo
SONOS Logo
Converse logo
PepsiCo logo
Almond Breeze Logo
Bupa Logo
Pfizer Logo
Blue Diamond Logo
Barclays Logo
General Electric Logo
Cambia Health Logo
Open menu

The Future is Here ...

How might The Sense Network help you?

Send us an email. Say hello and ask us a question.

box-lets-chat

Not found what you are looking for?

Use this form to tell it like it is. We love feedback.