The biggest threat to a financial services company isn’t hackers or thieves. It’s denial.

The financial services industry is undergoing major and rapid change—ask anyone who’s used a smartphone to deposit a check, apply for a mortgage, or split a tab with friends. People today expect more flexibility and better customer experiences from their financial institution. When it comes to opening or closing accounts, customer experience is more important than fees, rates, locations, or convenience.[i] For banks and other financial services companies the choice is clear: keep up or get left behind.

It’s time to kick old habits to the curb.

If banks don’t start offering the products, services, and experiences their customers demand, someone else will. Just look at all the fast-cash lenders that have popped up in the small business market. Banks and other financial services companies must find new ways to give their customers what they want. But getting everyone inside the organization on board isn’t always easy.

We get it: Change is hard—especially in big financial institutions, which often have siloed environments and a long-established way of doing things. But to quote the great Teddy Roosevelt (who totally would have done his banking on a smartphone if he was alive today), nothing worth doing is ever easy. And the best ideas come when we work together. (We’re pretty sure he said that too.)

That’s why companies need to collectively work smarter, not harder.

Enter Bluescape. It’s the perfect way for financial service teams to co-create and push the envelope, developing better products and customer experiences—together. Bluescape’s visual collaboration software helps companies innovate faster by letting teams keep their eyes on the big picture (literally—the virtual workspace is shared on a giant touchscreen) while they delve into the project details together.

Users can access Bluescape’s cloud-based virtual workspace from anywhere, on any device, and add digital content from whatever software they prefer. Your product development team can lay out the experience in a word processing doc, your design team can upload their ideas through PDFs, and your web development team can add a video to show the user experience—all in the virtual workspace. Team members can also add notes, to-dos, and comments, bringing everyone’s ideas together and making it easy to track progress.

Financial services: This is your moment.

Visualizing the big picture helps teams go from idea to finished product fast, without losing focus on the little things that make a big difference to your customers. Design and development teams from diverse industries have already discovered the power of visual collaboration using Bluescape. Now it’s your turn, financial services. What’s it going to be: Keep up, or get left behind?

 

[i] Source: 2014 Ernst & Young survey.