The Customer Effect

Why Elavon’s innovation center is playing it SAFe

  • Innovation centers pose their own challenges for parent companies.
  • “We leverage the SAFe model and tie this into our delivery model within Elavon.”
close

Email a Friend

Why Elavon’s innovation center is playing it SAFe

Innovation centers have ironically become the standard corporate response to the fast-paced evolution of emerging technologies. A lot is riding on these centers, which potentially hold the key to their companies’ future market relevance.

When Elavon launched its innovation center, The Grove, back in 2013, the idea was that the center would harvest new technology and product development for the global payment provider, a wholly-owned subsidiary of U.S. Bancorp. At time of its conception, The Grove’s main objective was to develop mobile solutions for the more than 1 million merchants that use Elavon’s payment services across the globe. However, true to its innovation mandate, over the past three years The Grove has evolved to address multiple technology trends.

“Mobile is where we started and may be a part of the customer solution,” said Wally Mlynarski, head of global product & innovation at Elavon, “but mobile is just one of the many opportunities we have to help our customers make smart decisions about their payment needs.”

A combination of in-house and outsourced marketing, together with live customer product testing has helped The Grove define just what these opportunities are. The innovation center has added securing customer payments, servicing the omni-channel business, making integration easier and delivering positive customer experiences to its initial mobile goals.

The establishment of The Grove left Elavon with its own innovation challenge to resolve: getting The Grove and Elavon to work together smoothly. The solution it came up with was having The Grove’s employees operate within a Scaled Agile Framework model.

“Basically, SAFe is a project and development methodology aimed at enabling large organizations to apply the ‘lean and agile’ practices of smaller organizations,” explained Mlynarski. Deploying SAFe at the innovation center has firstly enabled its over 100 employees to deliver a wide range of mobile but also platform-based solutions that service omni-channel payment processing needs. However, it’s also been instrumental in transitioning products from The Grove to Elavon. ”We leverage the SAFe model and tie this into our delivery model within Elavon,” he said.

Of course, integration is a two-way street. On its end, Elavon is investing in making it technologically simple to integrate The Grove’s innovations with Elavon’s existing infrastructure. “The largest challenge of implementing anything mobile is to ensure that you have the appropriate interfaces to the back-end infrastructure,” Mlynarski noted.

By simplifying the integration and delivery of mobile solutions, Elavon’s own employees are able to see greater value in the mobile channel, while customers get the quick mobile payment integrations they’re looking for.

Having SAFe’s detailed framework guide The Grove’s operations could put Elavon at an advantage when it comes to establishing a culture of innovation, something that innovation centers are meant to do. After all, one reason banks and credit unions are having trouble getting their innovation culture on is because they lack scalability.

With SAFe, The Grove and Elavon are ahead of the game.

0 comments on “Why Elavon’s innovation center is playing it SAFe”

The Customer Effect

It’s 2022 and FIs are still struggling to make their products accessible. Procure Access wants to change that.

  • Americans with disabilities have a total of $490 billion in disposable income. Yet financial services are struggling to meet accessibility requirements, even with basic tools like PDFs.
  • With Procure Access, everyone from Google to Fidelity Investments is getting involved to ensure accessibility is considered at the start of the procurement process.
Rabab Ahsan | September 14, 2022
Sponsored, The Customer Effect

Creating a hyper-personalized banking experience

  • To this day, a lot of financial institutions are using legacy systems that were written back in the '80s and remain the same.
  • Today's digital banking platforms and card services can offer hyper-personalized experiences to create a unique experience for each cardholder.
Zeta | August 25, 2022
The Customer Effect

The reversal of Roe v. Wade: Its impact on economic growth, financial wellbeing, and the financial services industry

  • Roe v. Wade has been overturned, after almost half a century -- what does that mean financially for America?
  • Here's how the ruling may hurt the state economies that will have a ripple effect throughout the economic system of the country.
Sara Khairi | August 02, 2022
Sponsored, The Customer Effect

Finance with a face: How personalization drives engagement, retention, and profitability

  • New technology allows for innovative companies to build banking products that cater to the specific needs of each individual.
  • Personalization is the key to meeting key product metrics and competing in this new landscape of embedded finance.
Q2 | March 14, 2022
Library, Modern Marketing, The Customer Effect

Tearsheet’s 2021 guide for marketers: Gens under the lens

  • We closed off last year with a thorough breakdown of the financial consumer profile of each of the generations.
  • The compiled guide for marketers is now available for download.
Tearsheet Editors | January 24, 2022
More Articles