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Jo Ann Barefoot explores how to create fair and inclusive consumer financial services through innovative ideas for industry and regulators

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Filtering by Tag: Regulation Innovation

Launching My Video Series

Jo Ann Barefoot

Eighteen months ago, someone made a suggestion to me. Why not take the consulting advice I give to my advisory clients and package it in a form that's affordable and widely accessible - as videos? Instead of reaching the few clients that can pay to fly me around and meet in person, why not use technology to share my thinking with everyone who's interested?

I loved the idea. It turned out to take a lot of work, but I'm excited to say that I'm finally, today, launching the series.

I'm calling it Regulation Innovation.

Is that an odd name?

Here's a question:  Which of these is not like the others?

Regulation, legislation, litigation, innovation....

Obviously innovation doesn't belong on that list. does.

These two drivers - regulation and technology innovation -- are the two transformative forces that are disrupting consumer finance.  They are the top challenges facing virtually every company, both in cost and risk.

The industry handles them as if they are unconnected - even opposite, incompatible, like oil and water. In reality, they are tightly linked:

They have the same targets. Regulators and disruptive innovators are attacking the same consumer problems -- especially lack of product clarity and high product costs.

Both therefore threaten the same profit centers -- it's a pincer assault.

They mostly have the same causes, especially outdated technologies, cultures and structures.

This means they have overlapping solutions. Fixing one can efficiently fix the other.

They are disrupting each other. Finance is so highly regulated that disrupting the industry disrupts the regulatory process too, and vice versa.

They are creating a new state of permanent uncertainty, driving change that's too fast, fluid and unforgiving to manage by traditional means.

They will break and remake companies and industries

Leaders in the financial world need to understand these two forces, and understand how to thrive on - not struggle through - disruption.

Regulation Innovation is my video guide for these leaders.

  • It's for both regulatory and business people at all levels, and for traditional companies and innovators of all sizes.
  • It's practical -- short videos, maximum insight, concrete advice.

 It's a training tool

The initial videos cover:

  • Welcome to the journey: Quick overview of the series
  • The 5 tech trends: The key technology trends disrupting consumer finance and regulation, and why financial people are underestimating them
  • Meet the innovators: Understanding the disruptors. Who are they, how do they think, what are they trying to do, how do they relate to the traditional industry?
  • Meet the new regulators:  Understanding the daunting shifts facing regulators and policy-makers, and how they plan to meet them
  • The 6 challenges:  the top challenges facing every financial provider
  • The 7 strategies: Strategic approaches for each of the six, and overall

Click here to see the introductory video.

And also watch our bonus video that answers the burning question, "Why does Jo Ann Barefoot have an Xbox -- since she's never played a videogame in her entire life -- and what the heck does it have to do with regulation and innovation"

Like any innovator, we're launching with an MVP (minimum viable product) which will evolve based on feedback. Please sign up, share the site with your colleagues and friends, and I'll look forward to everyone joining me on the journey!