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Miscellany

The World I Want to Live In

February 22, 2016 by JP Nicols

The World I Want to Live In

Demographically, I am about as “mainstream majority” as they come. I am a Caucasian, Anglo-Saxon, Protestant male who worked most of his career in the banking industry. An upper-middle class suburbanite heterosexual American to boot. No one would use the word “activist” to describe me. I’m apolitical to a fault, and I don’t talk about much of anything publicly that isn’t directly related to innovation, strategy and leadership in fintech and financial services.

So why should I care at all about this so-called FemTech Leaders movement that seeks to improve gender diversity in fintech and beyond? Why would I even show up at an event focused on empowering women in fintech, let alone promote it on social media?

Three very simple reasons.

First, it’s good business. 

Financial services is an especially cacophonous echo chamber, and I want to be surrounded by as many widely diverse perspectives as possible. Different mindsets, different experiences, different approaches. Views I would have never come up with on my own. 

It’s just a dumb business practice to exclude half of our population from the conversation. Especially during a time when so many threats and opportunities are impacting the entire industry in such huge ways.

Second, it’s more like the world where I grew up and live.

I had a strong grandmother and mother whose importance to my childhood would be impossible to overstate. My mom tells the story of my grandmother bringing home a pair of bright red shoes when she was younger. My grandfather told her they were too flashy and not very “ladylike”, and ordered her back to the store. So back to the store she went— only to return with a matching belt, purse and gloves in the same ostentatious crimson hue. Grandma didn’t need anyone’s permission to wear (or do) whatever she wanted. I always loved that about her.

My mom is naturally curious. She doesn’t have a lot of so-called formal education, but she has what we call “the figure it out gene”, and I wrote before that she has a PhD in common sense (2019 Update: my mom lost her decades-long battle with COPD this year). It’s not that she doesn’t appreciate formal education. She grew up in a different era in a blue collar family that worked early and often, but she made sure that I was the first person in the family to go to college. “When you go to college…” I always remember saying to me when I was young. Never “If you go”. She instilled in me my love of reading, learning, and traveling, and she encouraged me to explore, take risks and be an early adopter. I wouldn’t be who I am today without her.

My wife is a lot like my grandmother. She didn’t listen to anyone’s career advice about who paid the most or who had the best perks, she devoted her career to helping women who were victims of violent crimes. She has been paged to the emergency room in the middle of the night more times than I can count, got injured in a courtroom brawl, threatened with being thrown in the back of the paddy wagon by a police officer who didn’t appreciate her staunch advocacy for a victim’s rights at the scene of a crime, and helped survivors and their families deal with evidence and testimony that is truly unspeakable and heartbreaking. She could have made more money working at the local mall, and she wouldn’t have had it any other way.

I want more awesome women in my life, not fewer.

Finally, it’s more like the world where I want my daughter to work in and live.

There is another awesome woman in my life. She went from wearing diapers to school uniforms to college sweatshirts to an employee ID badge in what I swear could have only been a few short years. She went to an all-girls school where the motto was “Giving Girls Their Voice”. We, and she, saw first hand the power of every leadership position of every class and every club being held by a girl, and the power of every Ravens’ sporting contest being THE big game— not just the second-rate ‘Lady Ravens’ alternative to the boys’ teams. 

These leadership lessons stick with the girls through college and beyond, where the harsh reality of the other 50% of the population invade these artificial constructs. By then they are unafraid to raise their hand in a crowded lecture hall to answer a professor’s tough question, or even better— to disagree with a point in the book. They don’t think twice about whether it’s OK to run for class officer, or play sports, or start a new club on campus. They major in whatever the hell they want. 

My daughter found her own voice and I don’t ever want her to lose it.

More Work To Be Done

That’s why the FemTech Leaders movement is so important. It’s not about creating an exclusive group just for women to feel better about being in the minority, it’s about connecting the power of the minds and spirits in all of us to make this industry and this world just a little bit better than the way we found it.

Let’s not stop here though. We have massive under-representation of ethnic, racial, religious, orientation, and other minorities in fintech and financial services. The same benefits of diversity are only multiplied when we make a broader effort of inclusion.

So, my reasons may not be particularly high-minded or socially conscious. I’ll leave it to someone else to inform and inspire you with statistics on workforce participation and pay gaps, and the economic inequalities of non-inclusion. 

I just know the world that I want to live in.

Filed Under: Leadership, Miscellany

The Four People Who Ruin Innovation

January 19, 2016 by JP Nicols

four-people

Innovation is fun. Except when these types are around. How many do you know?

The Hypemaster 

Hypemaster

The Hypemaster is, well… a master of hype. Everything they’re working on is amazing, and you must absolutely drop everything and check it out. Right now! “Hey we’re getting ready to launch Hypemaster.io, check it out and let me know what you think!”

I love meeting new people and seeing new ideas, even though I usually don’t have a lot of free time to look at a stranger’s project and give them a bunch of free advice. But I try to be helpful, so sometimes I do it, if the approach is right.

The Hypemaster doesn’t respect your time or your own commitments, and they really don’t even want your advice anyway. They just want you to promote their link on social media, or worse, ruin your friendships by introducing them to other people. Their project descriptions are stuffed with enough buzzwords to make Dilbert’s pointy headed boss jealous. “We are radically disrupting this vertical with a full stack digitized approach to the blockchain, with fully-configurable architecture and a lightweight contextualized interface”.

Natural Habitat: Startup Conferences, Conference Apps, Twitter DMs, LinkedIn InMails

 

The Innovation Snob

Innovation Snob

Nothing is cutting edge enough for the innovation snob. 3D Virtual Reality? Yawn. It’s been done already. Self-driving car? The Innovation Snobs claims to have been into them 10 years ago, but it’s too mainstream for them to bother with now. They think Elon Musk’s rockets are too similar to what NASA did in the 1960’s.

Continuous improvement and incremental innovation are an important part of keeping a company growing, but they are nothing but eye-rolling material for the Innovation Snob. Solving real problems that paying customers care about is the true heart of innovation, but the Innovation Snob only wants to see something they have never seen before. Preferably on a touchable hologram emanating from a smartphone that hasn’t been released yet.

They also think they are the only ones entitled to an opinion. Everyone else is a pundit, armchair quarterback or wannabe, they’re the real deal, damn it.

Natural Habitat: The Bar after the Conference, Finovate Twitter Feed, Facebook Comments.

 

The Disruption Denier

Disruption Denier

The Disruption Denier is the 180-degree polar opposite of the Hypemaster. NOTHING is impressive or impactful to them. All of the good ideas are already taken. Anyone with a new idea is simply a charlatan trying to separate you from your hard-earned money. They’ve been there, done it, got the T-shirt, and knew better the whole time. They also know far better than than you now that your new idea will never work. They’ve tried it before. Didn’t work then, won’t work now.

Disruption Deniers think they alone have figured out how the world really works, and that the current state of affairs is permanent and unchangeable. Worse, they sometimes are even convinced that some previous era was actually the ideal situation, and that most progress made since then is regrettable.

Sometimes this perspective comes from a comfortable perch built from doing something that did indeed work just fine in the past. Usually though, it really just comes from a dark and bitter place where they just don’t want to accept their own failures, so it makes them feel better to lash out at others, usually through drive-by assaults in the comments section.

Natural Habitat: Mid-Level Management, Golf Courses, LinkedIn Group Comments on Others’ Posts

 

The Chameleon

Chameleon

This person can be hard to spot. They might seem at first to be a Hypemaster, singing the praises of the hottest piece of technology, especially if it isn’t exactly brand new. At other times, they may appear to be a Disruption Denier, clucking at some previous market darling’s fall from grace. They gyrate wildly from pro to con, and from fanatic to critic.

They were the first to tell you how excited they were about the Apple watch when it was announced;  but now that their friend is less than enamored, they tell everyone how much it sucks. All through secondhand knowledge, because they won’t buy their own until Version 5 comes out.

The chameleon has an incredible ability to blend in to its immediate surroundings; sensing the environment around him and adapting to it quickly and without notice. Apparently the price for this superpower is a lack of original thought and reasoning ability. They do, however, possess 20/20 hindsight.

Natural Habitat: Company Lunchrooms, Cable News, Facebook, Twitter (main feed)

Everyone around you is either helping you get to where you are trying to go, or they are not. These people definitely are not. You can’t always pick your boss, your coworkers, or a lot of the other people you come across daily, but your innovation efforts will improve if you get rid of these people.

And you’ll have a lot more fun.

 

Filed Under: Bank Innovation, FinTech, Leadership, Miscellany

Top Five Posts from JP Nicols in 2015

January 7, 2016 by JP Nicols

Top 5 1000x571-2

 

Thanks to everyone who read, engaged, commented and shared my posts over the past year. I am proud to be a part of a great and growing global community that is committed to improving financial services for the better. Here’s to a great 2016!

Follow me on Twitter:

Follow @JPNicols

 

Learn more about me:

About JP Nicols

 

Here are my five most popular posts from 2015:

Big Data and Alternative Payments Top Capital One Fintech Survey

CapOne Survey 1000x571

 

It’s Too Late, Banking Is Already Being Disrupted

Too Late 1000x571-2

 

In Search of Competitive Advantage

Comp Advantage 1000x571-2

 

Innovation is More than the Next Big Idea

Big Idea 1000x571-2

 

Traditionalists vs. Trailblazers in Innovation

T&T 100x571-2

 

Filed Under: Bank Innovation, FinTech, Leadership, Miscellany

Social Media Explained… Through Donuts?

January 23, 2013 by JP Nicols

I continue to get questions on which social media channels are most effective for what purposes. No wonder, considering the growing complexity.

Credit: Buddy Media/Luma Partners via Business Insider
Credit: Buddy Media/Luma Partners via Business Insider

Thankfully, there is a very simple explanation, which I will be using from now on:

Credit: Douglas Wray on Instagram, via Business Insider
Credit: Douglas Wray on Instagram, via Business Insider

You’re welcome.

Filed Under: Bank Innovation, FinTech, Miscellany Tagged With: Social media, social media strategy

To All Veterans on This Veterans Day…

November 11, 2012 by JP Nicols

US soldier

Thank you to all of you who have served and to those of you still serving. I am grateful to be able to honor your service to all of us.

From Dale Wilson’s Command Performance Leadership:

Freedom isn’t free.  Men and women throughout our history have paid the price, sometimes the ultimate price of their lives, to ensure your life of freedom is preserved for you now and long into the future.  On this Veterans Day, we honor…we thank…we celebrate their courage, commitment and sacrifice for us; your fellow Americans.

 

Read the entire post here: To All Veterans on this Veterans Day… THANK YOU!

Filed Under: Leadership, Miscellany Tagged With: Veteran, Veterans Day

Top 10 Best Banking Blogs

November 8, 2012 by JP Nicols

(Via The Financial Brand) Congratulations to all of the winners in The Financial Brand’s Best Banking Blog poll. I am honored to count several of the winners amongst my friends. It is a group of smart, kind and funny people– what more could you want?

1. JD Power & Associates Banking Blog – @JDPowerBanking

2. Snarketing 2.0 – Ron Shevlin —  @rshevlin

3. ACTON’s Financial Marketing Insights – @ACTON_Marketing

4. Bank Marketing Strategies – Jim Marous  @JimMarous

5. Banking.com –  @bankingdotcom

6. CU Insight – Randy Smith @CUinsight

7. Bank Innovation – @BankInnovation

8. Netbanker –  @netbanker

9. GonzoBanker –  @GonzoBanker

10. Financial Services Club Blog – @FSClub

Congratulations as well to the Write-Ins & Other Honorable Mentions, along with the nominees, where I again am fortunate to recognize another great group of smart, kind and funny people I call friends. I am also humbled and grateful to even be mentioned in their company.

Again, from The Financial Brand, Write-Ins & Other Honorable Mentions:

  • Andera Blog
  • BankFutura.com
  • Celent Banking Blog
  • Filene
  • FICO Banking Analytics
  • Jeff for Banks
  • jpnicols.com (!)
  • Long Lasting Ideas
  • Mark Arnold
  • mFoundry Blog
  • Perficient Financial Services
  • SAP Banking Blog
  • Shared iDiz
  • SimpleCents
  • Strategic Marketing by MarketMatch
  • Tekfin
  • The Bankwatch
  • The Raddon Report
  • TheBoldWar.com
  • Tomorrow’s Transactions
  • We The Savers
  • Zoot Blog

Read the entire article, including links to representative posts from the winners at The Financial Brand: Top 10 Best Banking Blogs – Readers Choice 2012 Winners | The Financial Brand: Marketing Insights for Banks & Credit Unions.

Other nominees:

  • Banking.com
  • Banking4Tomorrow
  • MattWilcoxPro
  • Chuck Bruen’s CU Blog
  • Visible Banking
  • Javelin Strategy & Research Blog
  • Finextra
  • The Finacle Blog
  • That Credit Union Blog
  • Optirate
  • Discerning Technologist
  • MyBankTracker

I encourage you to bookmark these sites if you are interested in the future of financial services.

Related articles:
  • Discerning Technologist Named Among Best Banking Blogs of 2012 by @FinancialBrand (bradleyleimer.com)

Filed Under: Bank Innovation, Miscellany, Wealth Management Advice Tagged With: Banking Services, Financial Brand, Financial services

Apple Event Wrapup via PandoDaily

September 12, 2012 by JP Nicols

Someone had to be at the Apple event today while I am at Finovate. I’m glad PandoDaily was there.

Filed Under: Bank Innovation, FinTech, Miscellany Tagged With: Apple, apple event, IPhone, Tim Cook

TechSpeak to English Dictionary

September 12, 2012 by JP Nicols

Word cloud for Web StartupI am excited to spend the next two days peering into the future of FinTech as I watch and hear 60 companies demo their wares at Finovate. This TechSpeak to English Dictionary from Francisco Dao may be helpful for some attendees (and some presenters). Enjoy…

PandoDaily: The TechSpeak to English Dictionary

Related articles
  • FinovateFall Kicks Off Wednesday, September 12 (finovate.com)
  • The Convergence of High Tech and High Touch in Wealth Management (jpnicols.com)
  • FinovateAsia 2012 Demo Companies Revealed — Come See the Future of Asian Fintech Debut in Singapore! (finovate.com)
  • Seven Finovate Alum Selected as Innotribe Semi-finalists (finovate.com)

Filed Under: Bank Innovation, FinTech, Miscellany Tagged With: Finovate, Private bank, TechSpeak

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