I Love Bureaucracy

I used to complain about “bureaucracy” all the time. I was trying to bring new technologies to Sberbank, and at every step I was slowed down by procedures that either did not apply or did not exist. And when they were applicable and had to be executed, another level of organisational resistance intervened, the “bureaucrats” […]

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On Open Innovation

My conversation with Dimitrios Salampasis, an open innovation researcher (@dsalampasis) What does open innovation mean for the financial industry? For a corporation, adopting open innovation means understanding that there are a lot of ideas in the ways of doing things, processes, technologies that will not necessarily come from the company. For large corporations, and most banks […]

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Magical Thinking?

Many things in life are quite difficult to understand, a long list that is getting shorter through scientific advances. But after thousands of years of living in a complex world that we mostly did/do not understand, we have developed various coping mechanisms, magical thinking being one of them. From Wikipedia, magical thinking “is the attribution […]

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Digital Sberbank

Thoughts on becoming a digital bank, from a long internal discussion — edited for brevity There is a large wave of technology transformation that is impacting business after business, and we see it challenging the status quo in banking and financial services. This wave is composed of technologies that are changing the way we create, […]

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Moving Forward, Fully Armed

I have been interviewed by IT Vision Moscow in December 2012 — this is the edited translation   Sberbank Technology Research Center has been functioning for more than a year. Mircea Mihaescu, Director of the Center, is telling us about the results and plans for future. IТ-Vision : What does Sberbank Technology Research Center do […]

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Sberbank 2.0

I have been interviewed recently by Tatiana Naumova for a Russian investment magazine. Since the interview will be published in Russian translation, I am including here the (slightly edited) English transcript. 4 main directions for innovation in Sberbank this year – in our interview with the Director of Technology Research Center Dr. Mircea Mihaescu. Author […]

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