TREND_LOUNGE Qorus Banking Innovation Awards 2018 - Winner

It is crucial for a bank to identify new trends and product innovations from bottom up. By developing and implementing the “TREND_LOUNGE”, the BAWAG P.S.K. has created an internal platform for innovation. The TREND_LOUNGE is an event for employees of BAWAG P.S.K. to present their innovative ideas for product and service for private customer business. The ideas are presented within a slot of three minutes following comments from a jury. Then, more than 130 participants vote online for their favorite idea. The best ideas are awarded. The result: ideas that present BAWAG P.S.K. with a unique position. The “TREND_LOUNGE” event empowers the Bank's workforce and has achieved to strengthen the awareness for innovation within the company. Furthermore, it boosts the creativity of the employees and better exploits the existing potential of the company. As a result, we are constantly improving competitiveness and actively shaping the interaction between organization, technology and social change. The TREND_LOUNGE takes place 3 times a year. Up to 130 employees coming from the headquarters and from various branches across Austria voluntarily attend the event. Each TREND_LOUNGE has a theme. Among these themes were, e.g. upcycling, customer satisfaction, or financial wellbeing. In each TREND_LOUNGE up to 10 ideas are presented. Due to the great interest, it is necessary to pre-select the ideas based on predefined basic criteria. Throughout the process, communication and interaction is an essential part of the quality of the ideas presented and, in turn, their successful implementation.