In the west, when we think about innovation, financial firms don’t generally grace a top 10 list of innovative firms. Not so in China. There, financial technology firms are regarded as some of the most creative and aggressive firms around, stealing talent from all the top internet players such as Google and Facebook.
Our guest for this week’s Tearsheet Podcast is Jon-Tzen Ng, chief strategy and innovation officer at Ping An Technology, the technology and incubation arm of Ping An. Ping An is a 30-year-old Fortune 100 financial services holding company for the group’s insurance and banking properties, which include online lender Lufax.
We hear about Jon-Tzen’s path to running innovation and move quickly into understanding the Chinese model for innovation — most importantly, we delve into how a company that does over $100bn in revenue can measure its progress in days and weeks. Ping An has systematised innovation through R&D, incubation, and a new experience design centre.
You can listen to more episodes of the Tearsheet Podcast, and other fintech shows, on the BankNXT podcast page. Enjoy!
READ NEXT: China’s fintech scene is a phenomenon
– This Tearsheet podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. Image by majcot, Shutterstock.com