Purposeful Innovation
Through the Eyes of the Customer

Innovative ideas are no longer driven by an unrealistic vision of the future (picture robots in space), but by a desire for more efficient solutions to today’s biggest challenges. At Barclays, purposeful innovation powers possibilities. We solve problems for clients, who we call partners, and make things easier for customers across our business. Our teams collaborate to explore, test, and bring new ideas and services to the market, which align to our partner-first mindset.

Through our Innovation Lab (iLab), we approach innovation in three distinct ways, enabling us to move from idea to execution quickly:

1. Solve for partners – focusing on innovations that are in the sweet spot of our business, like credit cards and new capabilities in this space.
2. Make processes easier for cardmembers – brainstorming ideas, for example, new ways to use artificial intelligence (AI) that are close to what we offer, are slightly more innovative and conceptual but have a business case that teams are executing against.
3. Look at what’s on the horizon – exploring emerging business ventures we are not currently in today – like blockchain.

We also utilize Launchpads, where colleagues come together for week-long design thinking workshops to enhance opportunities within the customer experience journey. No idea is off the table as we bring fresh thinking to the premier brands and programs we support.

As a leading provider of credit card rewards programs, a primary and constant focus is helping our customers earn, redeem and maximize their rewards with ease on an ongoing basis. We step into our customers’ shoes, which enables us to expand our offerings with their increased satisfaction top of mind.

For our travel-related programs, we’ve also examined how we can create better experiences and benefits for cardmembers on their actual day of travel by developing a “try before you buy” prototype – essentially letting customers try out a credit card for 30 days before signing up. Credit card selections are personal, they power spending for daily essentials and help customers earn points or cash back for larger purchases and experiences with brands they love.

At Barclays, we’re focused on building new capabilities across our platforms and our business by exploring real-world technologies. This strategic approach to innovation enables us to not only leverage the strengths of what works well for our individual partner relationships, but then to utilize those learnings to solve customer challenges across our entire portfolio.

As our teams push the boundaries of what’s possible with a proven innovation framework, we’re excited about the future of expanding digital integrations, furthering customer personalization, and bringing that differentiated experience to our trusted partners, customers, and colleagues.

This information is for educational purposes only, not intended to be financial or legal advice. Always consult a qualified financial advisor before taking any action based on this information. The views and opinions expressed are those of the authors and do not necessarily reflect the official policy, position, or opinion of Barclays Bank Delaware.

Blog Author

Sean Murray
Chief Product Officer
Barclays US Consumer Bank

Sean Murray is Chief Product Officer for Barclays US Consumer Bank where he is responsible for driving innovation to design new products, enhance digital customer experiences, and modernize the platform that powers the bank’s award-winning card and payment programs in the U.S.

Sean has more than two decades of experience across banking, credit cards, financial technology and e-commerce. Prior to joining Barclays in 2020, Sean was the Citi Fintech Chief Product Officer at Citi. Before this, he spent 15 years at JP Morgan Chase within their consumer division, including Card Services, Retail Banking, and Mobile, E-Commerce and Payments groups.

Sean is a mentor for Unreasonable Impact and serves on the boards of The Challenge Program and The Greater Philadelphia YMCA. He holds an MBA from Rutgers University and a Bachelor of Science in finance and banking from Fordham University.