Mounting marketplace expectations and ever-encroaching competition prompt improved efficiencies in staffing and operations. However, a rash reaction to external pressures may result in limited gains. To achieve lasting value from innovation investments, business leaders must see long-term potential.
The Crowe Innovation Fast Track backs carefully chosen ideas and their creators with coaching, the Crowe innovation lab, and internal resources from legal and IT to marketing and design. Crowe supports our people’s best ideas with immediate exploration of their potential as solutions that can help you meet changing market needs.
The Crowe Innovation Fast Track moves concepts through exploration and evaluation within 90 days. This includes evaluating competitors and market demand, assessing solution viability, building prototypes used to gather feedback, and gathering pricing and revenue numbers. Following evaluation, the proposed solution moves quickly to marketplace testing to determine its viability, agility, and usefulness in the marketplace.
Failures teach us as much as successes. Each lesson iteratively improves the concept or amends the investment decision, optimizing time and money. Swift solution development can speed time to market by as much as 50 percent and accentuates the competitive advantage.
The ideas that receive development funding move to our six-phase innovation process, entering midflow. Client pilots then gather additional market feedback and data to optimize the solution for a full launch.
A graduate of the Crowe Innovation Fast Track, Crowe Credit360 for CECL, saves banks time and significant effort as holistic credit risk software. Beyond the calculation, validation, and audit of current expected credit losses reserves, it analyzes portfolio risk and provides process transparency.
Accurate and comprehensive CECL calculations prior to the effective date or audit
Actionable insights through a toolkit of CECL models for methodology and documentation assessments
Scenario modeling to validated CECL reserves and view the effect of alternative methodologies or segmentation
Efficient, reliable period-over-period data cleansing, standardization, and automated data anomaly detection
Each year, Crowe commits funds to incremental and breakthrough innovation that can improve client experience. We encourage the curiosity and creativity of all our people and push their most promising ideas forward with focused attention and resources. We realize as traditional business models change, our clients are looking to do the same.
Join us in the transformation.