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Advice From An Innovator Turned Educator, Derek Ariss
One of the main challenges facing many organisations within the FS industry is how to successfully innovate in an age where new technologies like Ai, Big data and blockchain are disrupting traditional business models. That’s why we’re pleased to have Derek Ariss join us for this week’s expert perspective.
Derek has extensive experience driving innovation at companies spanning numerous industries. Now, he is working together with Dan Liebau at Lightbulb Capital to help organisations within the financial services find new ways to innovate and in the process create new sources of value.
The Expert Perspective with Derek Ariss
Derek Ariss, Head of Innovation Education at Lightbulb Capital
Could you introduce yourself?
Hi there. I am Head of Innovation Education at Lightbulb Capital and am responsible for building the education practice, focusing on creativity, design thinking, technology, culture and mindset conducive to innovation in finance.
Prior to this, I was the Head of Innovation at LendLease. I was responsible for designing processes to deliver improved products and systems, nurturing a culture of innovation in Asia, and developing productive relationships with organisations that focus on innovation and growth.
How do you see finance in 10 years?
I see the finance being an exciting environment filled with opportunity and challenges, especially in the innovation space. Opportunity because we have an incredible number of tools, data, and technology to drive finance in the future and make it accessible to everyone.
Challenges because as we have these opportunities we need to be able to imagine, change, adapt and learn quicker than we have ever done in the past be it in Leadership, Physical and Mental Environments, our Emotional Drivers or our Systems and Processes. This means major changes are needed, in mindset, and learning.
A company you like in Fintech?
In the Fintech Space, I like an AI company called Taiger. Taiger is a high tech-software vendor specialised in providing knowledge worker automation solutions into Financial Institutions, Insurance and governments.
Your best advice for someone working in the finance industry: how do they start to build their Fintech skillset?
There is a lot of literature talking about Technology and how it impacts Finance, however…
I would say you need to start with having a Growth Mindset to learn and put thoughts and ideas together. The future and Fintech will bring a lot of change. People don’t handle change well, and yet we need to know how to deal and learn from it. A lot of those changes will be driven by innovation in the areas of use of data, applying technology and interfacing with our lives.
So, an understanding of how innovation works and the mechanics and cultural aspects is very helpful. And then a good overview of the Fintech industry helps e.g. the CFTE program can give you that overview. Put together the right Mindset, the right Background, and an understanding of the innovation process is a good start.
Could you share an interesting article, piece of content, blog post you have read recently?
Before I joined Lightbulb Capital a few months ago, I was going through their LinkedIn posts to understand a bit more about the company and I found a posting that I keep referring to. It’s a hitlist of good books to read on innovation, technology, design and thinking. I like it because it’s a manageable, informative and well thought out set of reference materials that will keep you reading, learning and thinking. You can read it here.
A source of knowledge for our readers that would help them on their journey to adapting to Fintech disruption.
I’ve talked a lot about mindset and I think the book “Mindset” by Dr Carol Dweck is a fantastic reference tool. With so much change impacting us it’s good to know we all have the ability to learn and thrive in the future. Nothing is easily done, but with the right leadership, environment, and attitude we can always continue to work, grow and develop.
Enjoy more expert views on disruption in finance here.
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