On November 7th, Symcor held its 3rd Annual COR.SPARK Innovation Summit in the downtown core of Toronto. With a room full of banking executives, along with industry innovators and strategists – all with one question in mind: How do we reinvent trust in the digital banking landscape?

The keynote speaker Brett King, Amazon’s best-selling author, futurist, former Adviser to U.S President Obama on Financial Technology pointed out that true innovation and all major industry disruption has been defined by First Principles design thinking. This means deconstructing existing processes and a fundamental redesign of the customer engagement process from the roots. Brett King challenged banks to shift from physical to digital, so banking is embedded in real-time on the digital platform. 

“The solution is not in opening more branches, but in revolutionizing the customer experience on the digital platform and redesigning the banking products using First Principles design thinking. Payment products must be replaced with payment experiences.”

Additional insights were provided by Neira Jones, globally acclaimed UK Real-Time payments expert and as well as Thomson Reuters UK Top 30 Social Influencers in Risk. Neira shared her lessons learned from the implementation of real-time payments in the UK.

Symcor’s Max Nokhrin, Product Leader and Nick Buwalda, Data Science Lead at Symcor, presented a COR.IQ Demo, showcasing the power that comes along cross-bank and cross-industry collaboration. The demo showcased the benefits of having a networked data ecosystem that leverages AI, Data Analytics and Data Governance controls to combat numerous fraud types.

For a full COR.SPARK Innovation Summit 2018 recap, check out Jeffrey Chen’s post on Medium.com.

Video Highlights below: