The large financial institutions have long been seen as the source of fresh thinking and innovation. But in 2013 this position may flip? Smaller institutions are teaching the world best financial practices.
In the past ideas and innovations have flowed from the large to the small market participants. But now when one after the other big trading loss needs to be reported, the world gets an evidence that they are not perfect. Once the world is forced to see reality it find that the pool is polluted (as Dan Ariely pointedly says in his contribution at the Wired Dec-12 UK issue).
To us reverse innovation does not so only mean the innovation flow from poor countries to the rich countries, but also from small market participants to the major players. It embraces product and process innovations.
In turbulent times cheap innovations are welcome because large cost reductions are derived from clever processes based on cheap systems.
We are in the good position that we were arming David from the beginning. Having unleashed our programming technologies behind our solutions they are available for anyone.
In a few days I will post our agenda 2013 - another evidence that we are uncompromisingly continuing our way of reverse innovation. Big-cheap-systems-for-the-small for the big.
This post has been inspired by the the special Wired edition >> The World in 2103 >> Trickled-Up Innovation.