Lean Startup Lesson: Test Before you Build

Consider the cost of building a product only to find out that nobody wants it. Testing the hypothesis for a new product can save time and money. How to go about testing before a product is ever created is the topic of discussion for Eric Ries, author of The Lean Startup, and Intuit founder Scott Cook in this Lean Startup Lesson.

This is the eighth installment of a new series where Intuit leaders, including CEO Brad Smith, Founder Scott Cook and Vice President of Design Innovation Kaaren Hanson will sit down with author Eric Ries to expand on some of the themes in his best-selling book The Lean Startup.

For more information on Ries, go to http://theleanstartup.com/.

*Originally posted on the Intuit Network. You can watch more of the series here.

Lean Startup Lessons: Breaking Down Your Grand Vision into Entrepreneurial Success

Leap of faith? Or stumbling in the dark? Eric Ries, author of The Lean Startup, speaks with Intuit founder Scott Cook about breaking down an entrepreneurial vision in a way that leads to finding real success. Exploring the role that leap of faith assumptions play in this process, Ries and Cook make the concept come to life. Ries explains how to identify which assumptions are the leap of faith assumptions and why that matters.

This is the fourth installment of a new series where Intuit leaders, including CEO Brad Smith, Founder Scott Cook and Vice President of Design Innovation Kaaren Hanson will sit down with author Eric Ries to expand on some of the themes in his best-selling book The Lean Startup.

For more information on Ries, go to http://theleanstartup.com/.

*Originally posted on the Intuit Network. You can watch more of the series here.

Identity Thieves: How They Do it and How to Stop Them

*This blog was originally posted on The Intuit Network

We look both ways before crossing the street. We lock our doors at night. We bundle up in the cold. But when it comes to our personal information, are we doing all we can to keep it safe and secure?

Data Privacy Day, a day that promotes privacy awareness and education, is being celebrated Saturday, January 28. In support of Data Privacy Day here are five tips from Intuit to help you protect data.

If it’s too good to be true, it probably is – Beware of phishing scams. They come in two forms – via social networking sites and email. The messages often look authentic and appear to come from a friend or connection, legitimate company or government agency. To entice you via email, they often claim an urgent or threatening condition concerning your account, or offer you a prize or reward as a way to obtain your personal information. Some clues to watch for: these often contain misspellings, or the grammar isn’t quite correct. On social networking sites, the post or invitation may look incomplete and often invites you to “check out this cool video.”

The goal is the same – to steal your information. If in doubt, do not reply or click on links without verifying the request is legitimate through another channel, such as a company’s official website, Twitter handle or the social network support site. Websites like www.snopes.com can help demystify some of the urban legends or too-good-to-be-true offers.

Don’t lose it if you lose your mobile device – If you lose your mobile device, report it immediately to your carrier or your employer, if it’s owned by your company. Go online and change passwords for financial and personal accounts to prevent any identity theft or fraud.

Be passionate about passwords – Use syllables or acronyms. Avoid using complete words that appear in any dictionary regardless of the language. One option is to start with the first letters of a familiar phrase. For example, “Mary had a little lamb” becomes Mhall, which could be part of a secure password. Check out the list of the worst passwords of 2011 from SplashData.

Get what is yours for free – Identity theft occurs every day, and is particularly high during tax season when volumes of personal information, such as W2s, are being circulated. The Fair Credit Reporting Act requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months. Monitor your credit report to help spot identity theft and keep your personal information accurate and current. Visit www.annualcreditreport.com for more information.

Location, location, location – You’re working on a report and need some fresh air and inspiration. So you decide to work at a coffee shop for the afternoon. Are you protecting your company’s data out of the office? Is your screen visible as you step away for your second latte? Mobile devices need to be secured at all times. Set passwords on the device and on any mobile applications that offer that capability. You can also attach a privacy screen to your laptop or mobile device to discourage wandering eyes. Remember, the person next to you might be might be out for more than just a cup of coffee.

As technology changes, so do the opportunities to make your data work for you in new and exciting ways. And these advances in technology are often accompanied by increased data threats. Intuit’s chief privacy officer, Barb Lawler, an advocate for customer privacy says, “The best defense is staying current on ways to protect yourself and remaining in control of your data.  Know what data you have, what data you choose to make public, and take steps to protect it.”

“Show Me The (Mobile) Money”– A Case Study in Monetization

*This blog was originally posted on The Intuit Network

In this week’s Predictions Webcast, IDC’s Chief Analyst Frank Gens declared 2012 the year “Mobile Wins,” meaning we’ll see tablets and smartphones handily outpace their PC predecessors. While this isn’t necessarily a shock– mobile has been barreling toward us all for some time now– the concept of effectively capatalizing on mobile reamins a hot topic.

In the following presentaiton from SIAA’s “All About Mobile Conference,” Intuit’s own John Flora shares how Intuit Financial Services is helping mid-sized banks and credit unions serve their customers at their point of need in the cloud, on a tablet or even a smartphone. It all starts with focusing on “real customer problems” and designing for seamless experiences.

TechCrunch Disrupt: Intuit and Instagram Discuss the “Lean StartUp”

TechCrunch’s bi-annual TechCrunch Disrupt conference took place in San Francisco this week, attracting start-ups, entrepreneurs and tech lovers to hear about the latest and greatest from companies both large and small. Yesterday, Intuit Founder Scott Cook, and Instagram Co-founder Kevin Systrom took the stage with Eric Ries, former CTO at IMVU, to discuss Ries’ book, “The Lean StartUp.”

The discussion started with Ries diving into the definition of the word ‘lean,’ as he believes it is often misconstrued as meaning cheap or frugal. Ries said, “for starters, ‘lean’ does not mean being cheap or frugal, it’s about being efficient and taking a smarter approach to the development of your product.”

Both Scott Cook and Kevin Systrom weighed in with input from their own innovations, and the importance of running a lean company. You can hear their observations in the video below.

As financial institutions begin to broaden their product line-ups to meet increasingly diverse customer needs, tapping into the “lean startup” mentality could be a beneficial approach. Can financial institutions adapt, adopt and go, or do business realities stand in the way? Let us know your thoughts in the comments section below, or Tweet @bankingdotocm.

The World’s Most Innovative Companies: Where Are the Financial Institutions?

Forbes recently released its list of the World’s Most Innovative Companies, aiming to answer the question, “Which leading-edge corporations are most likely to succeed now and in the future?”

The list, which is based on an eight-year study, used a unique methodology to calculate the companies that made the final cut. Rather than ask executives to vote on which companies should appear, factors such as financial performance, investors’ bids on stock prices and expectations of future results (new products, services, markets) determined the companies on the list.

Tech giants such as Apple, Amazon, Google, Oracle, Intuit and Salesforce were on the list, as well as consumer facing companies Starbucks, PepsiCo and Hershey.  One sector without a large presence on this list: financial institutions. You can view the complete list here.

As the Banking.com staff read through the list, we wondered, why aren’t there more financial institutions on this list? What are your thoughts? Leave us a message in the comments section below.

Fueling Innovation and Growth in the Cloud

How does a company transition from strictly desktop software to one that today generates about 60 percent of its revenue in connected services?

Delivering a keynote at All About the Cloud, Intuit CIO Ginny Lee talked about Intuit’s journey from desktop to anytime, anywhere access on any device and how the company is fueling innovation and growth in the cloud.

Whether you’re running a cloud business or transitioning to one, Lee stressed the importance of:

Mindset – IT plays a critical role in enabling growth and a great customer experience. Therefore, put customers at the heart of everything you do. Think business first, tech second.  Be explicit about roles and hold everyone accountable.

Innovation – Break down the barriers to innovation by creating tools that foster rapid prototyping and innovation both inside and outside of your company. Tap into the vast ecosystem of external developers at the ready to help create great offerings.

Data – The nature of data is maturing and how you use it can be a competitive advantage. Intuit embraces data driven innovation and looks beyond basic reporting to data driven actions and insights.

Check out her presentation below.

*originally posted on the Intuit Network

About Holly Perez:

Holly loves sharing stories about Intuit’s connected services and growth. When she’s not tweeting from @IntuitInc, you can find her chasing after good bargains and her two boys.

Startup Lessons Learned: A Conversation With Intuit CEO Brad Smith

Last week in San Francisco, more than 500 entrepreneurs and developers attended the Startup Lessons Learned Conference to receive insights from leaders within innovative companies. Intuit’s CEO Brad Smith took the take to speak with Eric Ries. You can watch the video below:


Watch live video from Startup Lessons Learned on Justin.tv

Inside the Innovation Gallery Walk

Intuit recently held an Innovation Gallery Walk in New York City, where the company walked the media through hands-on demonstrations of new products and services. Former CNN reporter Bill Tucker takes a look inside:

Mobile Banking: It’s Not a Phase

Mobile banking innovation continues to move forward as the need for mobile based applications becomes a “must have” for businesses. Whether it is basic banking functionality, such as checking an account balance, or the ability to deposit a check via remote capture, mobile banking apps are enhancing the customer’s everyday banking experience.

A recent Barlow Research report noted that 43 percent of middle market companies and 45 percent of small businesses are interested in mobile banking. Barlow noted, “interest in mobile jumped considerably over the past year in the middle market segment (up 10 percent from 33 percent).”

Companies including Wells Fargo, Fiserv and Intuit, among others, are all standing behind mobile banking as a valuable channel for reaching customers. Barlow Research spoke with Nadilee Russell, SVP Business Solutions at Intuit Financial Services who said, “Business people, regardless of company size, are constantly on the go so they want tools to help them manage time-sensitive cash, payment and fraud prevention decisions from wherever they are, whenever…Staying connected is a key reason the mobile channel shows tremendous growth potential and may surpass online as the primary way some customers interact with their bank.”

Does your FI offer mobile banking? Have you seen higher adoption of mobile banking applications in the last year? Let us know in the comments section below.