Successful innovation is the result of a shared mission and a pathway that empowers employees to lead from where they are. The Global Innovation team was created to establish an enterprise-wide strategy, and to scale it across the organization. Each business has a designated innovation leader, or champion, to further drive engagement and ensure every idea is properly addressed.
We focus on transformational ideas to find new and better ways to help our clients succeed. Our advanced technology, expertise and global reach enable us to adapt existing capabilities to new situations. We’re creating highly-scalable, state-of-the-art solutions that enable investors to move, manage and secure assets in capital markets around the world.
We understand that diverse perspectives fuel innovative thinking and our people are BNY Mellon’s greatest asset. We provide a variety of channels, including innovation jams, hackathons, open forums and our annual A.C.E. innovation competition, through which our people can voice their ideas. Our MyIdea platform facilitates collaboration around the world by enabling employees to submit ideas for input, evaluation and potential implementation at BNY Mellon. In this way, we overcome the barriers of distance and time.
To help inspire a start-up mentality among our workforce, we hold an annual global innovation competition – A.C.E. – which seeks the most innovative ideas from BNY Mellon employees. At stake is the chance to incubate new ideas for eventual start-up, prize money and the opportunity to make a significant personal impact in capital markets around the world.
A.C.E. brings out the best in BNY Mellon ingenuity as we challenge our employees to come up with big ideas. Our MyIdea Portal captures employees’ idea submissions which are then routed to appropriate subject matter experts for evaluation. As employees’ ideas advance through the competition, the level of scrutiny increases from our businesses, as well our risk, strategy, finance and legal partners.
In A.C.E. it all comes down to the pitch. In regional semifinal and final rounds, employees have five minutes to present their ideas to judging panels comprised of senior leadership. Each pitch is then followed by five minutes of Q&A by the judges. The judges score the ideas to determine those that will advance in the competition.
Of the many ideas submitted, only the best six to eight make it to the final round. Ideas that don’t advance may still be picked up by businesses for further exploration and implementation, but it is only the Global Finalists who have a shot at the cash prizes and a place in our incubator. Finalists pitch to a panel consisting of our CEO, President and other members of the Executive Committee. And they do so before a live audience and in offices around the world via telecast. The judges select those ideas that will be sponsored for incubation. Employees have the last word by casting their vote for the “audience favorite” which will receive a special cash prize.
Once the A.C.E. competition is over, the hard work really begins. Incubated ideas are managed by senior leaders who leverage expertise from different disciplines across the company to take the idea through development and potential launch. While there are no guarantees of success, the A.C.E. journey is one that challenges employees to stretch beyond their day-to-day. It provides unique learning and development opportunities on their career journeys. It’s one of the ways we’re building the future.
We constantly challenge our employees to think big and to collaborate with one another to bring forth their best ideas. Through our Innovation Perspectives speaker series, our senior leaders and external partners deliver brief thought-provoking talks on high priority topics. Our MySource Social collaboration platform and MyIdea portal enable employees to engage in online dialogue about new ideas they’re developing. We also offer specialized innovation training that helps our employees develop ideation skills.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used as a generic term to reference the corporation as a whole and/or its various subsidiaries generally. BNY Mellon will not be responsible for updating any information contained within this video and opinions and information contained herein are subject to change without notice. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this video. This video may not be reproduced or disseminated in any form without the prior written permission of BNY Mellon.
© 2016 The Bank of New York Mellon Corporation. All rights reserved.
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