Introduction

Banking SPICE is a joint initiative of the SPICE User Group and the Public Research Center Henri Tudor to create a Banking SPICE Innovation Framework. The Banking SPICE initiative was first introduced at the SPICE 2006 Conference in Luxembourg.

An open event will formally launch the initiative in Luxembourg on April 9th, 2008. The one-day workshop will provide presentations of existing works relevant for the Luxembourg financial market place as well as the international market place.

A second workshop will extend the Luxembourg Banking SPICE kick-off in an international context at the SPICE 2008 conference in Nuremberg, Germany, on May 26th.

Banking SPICE will analyse, integrate and/or harmonize existing methodological tools and standards (such as process reference models and process assessment models) determined by the project stakeholders in order to develop the open innovation framework. Banking SPICE will provide an efficient and effective mechanism for assessing and improving processes deployed across the international banking and financial sector. .

Banking SPICE™ Open Innovation Framework

The Banking SPICE Open Innovation Framework targets 5 major objectives:

SERVICE INNOVATION MANAGEMENT: to identify service innovation opportunities.
Identification of the targeted services and stakes for all of the interested parties (e.g.: European Directives and national regulations on “Know Your Customer”, Revenue cycle, Risk management for Professionals of the Financial Sector) based on various innovation techniques
TRUSTED SERVICES: to support the design of service innovation.
Identification of referential sources (laws, agreements, standards and other sources) Elicitation of requirements and assessment models for targeted services. Experimentations on operational fields. Parallel process for the targeted human skills needed.
INSTITUTIONALIZATION SERVICES: To facilitate and support the institutionalization of service innovation.
Feed-back of professional associations, experimentation analysis and validation of the service & competences models, proposition of professional standards
SERVICE OPERATION & MANAGEMENT: to accompany the deployment of service innovation.
Promotion and transfer of the models. Assessment tools development, training, support for deployment, assessment and improvement process
KNOWLEDGE INTENSIVE SERVICES: to capitalize and improve practices, models, innovation processes
Best Practices Capitalisation

Areas currently under investigation range from IT Service Management and software development, security, project management, sourcing, risk management, internal control to selected core business activities.

Benefits to Stakeholders

Banking SPICE will provide the following benefits to stakeholders:

  • Open Innovation Framework: the framework gathers practices from widely recognized standards and sources of best practice promoting quality and excellence of services
  • Training on the open innovation framework
  • Improvements to existing methodologies by the open innovation framework

  • Pick and Choose: select from the framework those areas relevant to your business needs

  • Authoritative: provides best guidance and/or compliance available which has been developed from widely recognized standards and sources, with detailed mapping tables tracing each practice to sources if further information is desired/required

  • Comprehensive: addresses a broad and expanding range of disciplines related to services science
  • Synergized: integrated resources, harmonized, and synergized; each resource contributes important perspectives
  • Target Audience

    - Banks and financial institutions
    - Regulatory bodies
    - Financial professional associations
    - Audit and consulting companies
    - ISO/IEC 15504 experts

     © 2007 The SPICE User Group. All rights reserved

    Banking SPICE™
    An Open Innovation Framework for Services Process Improvement and Capability dEtermination in the Banking Sector