Innovation, the conversion of the new to business as usual, is avery special business process. It is the business process able toreprogram all others. Creating the practices that make this processwork is a key challenge for all in financial services that areworried about responding to the future. When an institution canidentify things that are outside its present practices and convertthem, production line style, into products, processes, culturalchanges, or new markets, it will never be outpaced by internal orexternal change again. The institution becomes "FutureProof".This is a book about those practices in banks. It explains,using examples from institutions around the world, what it takes tocreate an innovation culture that consistently introduces newthings into undifferentiated markets and internal cultures. Itshows how banks can leverage the power of the new to establishunexpected revenue lines, or make old ones grow. And it providesadvice on the social and political factors that either help orhinder the germination of the new in banks. Moreover, though, thisis a book about the science of innovation in a banking context.Drawing from practices already highly developed in financialservices--managing portfolios of assets to mitigaterisk--it explains how practitioners can run their innovationsgroups like any other business line in the bank one that delivers areturn on investment predictably and at high multiples of internalcost of capital.For leaders, Innovation and the Future Proof Bankprovides the diagnostic tools to guide benchmarking and investmentdecisions for the innovation function. And for innovationpractitioners, the book lays out everything needed to make surethat converting the new to business as usual is predictable,measurable, and profitable.