The Innovation Readiness Index, an i2c collaboration, measures the likelihood of FIs implementing successful payments innovation. The Index includes survey responses from more than 200 banks and financial institutions. As part of the survey, PYMNTS asked banks to tell us how successful their most recent innovations were, then ran a regression of various features and attributes of the FI to determine which had a statistically significant impact on the likelihood of an innovation being successful.
Innovation Readiness - October 2017
INSIDE THE INAUGURAL INDEX
36 percent of FIs said their existing IT infrastructure made payments innovation hard or very hard
68.0 percent of FIs with less than $500 million in assets say they are well suited for innovation
63.0 percent of FIs identify meeting a customer need as the main driver for innovation
83.6 percent of FIs run core processing systems without a sandbox for development innovation
39.7 percent of top innovators use sandbox-to-scale functionality