Innovating together: the power of the Qorus worldwide community

Member presentation and their challenges 
 
Grupo Pichincha, one of the largest financial groups in Ecuador, has been a cornerstone of the country's financial landscape for over a century. With operations in six countries, Banco Pichincha is the largest player in Ecuador. In 2019, Guillermo Poveda took on the role of Head of Innovation, aiming to integrate world-class best practices across the group’s 14 banking and insurance institutions. The primary challenge was fostering a collaborative innovation system within a federated governance model, where each entity maintained its decision-making autonomy.  
 
Solutions (pillars) implemented 
 
To tackle these challenges, Grupo Pichincha joined Qorus in 2020, engaging all innovation teams and implementing the first draft of their innovation system. Amid the COVID-19 pandemic, the group unified their efforts to work efficiently as a single team. Silvia Cunill, from Qorus, connected Guillermo with the Head of Innovation at Generali, facilitating a crucial one-on-one session. This engagement provided invaluable insights into creating a federated innovation model, focusing on connectivity, decision-making, and understanding the human aspect of innovation. 
 
Additionally, Qorus recommended leveraging their innovation libraries, offering real-life case studies that complemented traditional consultancy advice. The libraries provided a global perspective, enabling the team to foresee trends like open banking and adapt accordingly. 
 
Results achieved 
 
The member-to-member sessions and extensive use of Qorus’ innovation libraries significantly impacted Grupo Pichincha. The in-depth discussion with Generali's Head of Innovation resulted in a new action plan, enhancing their federated innovation approach. This peer-to-peer learning experience was profound, offering practical advice without any commercial interest. 
 
The group's digital transformation team won two consecutive innovation awards, shifting the internal mindset and boosting team morale. The recognition on social media and the resultant employer branding efforts underscored the importance of such accolades, motivating the teams and enhancing their reputation. 
 
Collaboration next steps  
 
Following these successes, Grupo Pichincha plans to maintain a high-level of engagement from the innovation team, continuing to utilize international case studies for innovation and pursue awards to inspire and drive their teams further. The management has recognized the value of the membership, understanding its significant impact on team development and innovation advancement. Future steps involve connecting with more global leaders, exploring new trends, and continually adapting their strategies to stay ahead in the rapidly evolving financial landscape.