This initiative forms an integral part of Efma’s mission to promote networking and sharing of knowledge & expertise among peers. It provides non-competing institutions with the opportunity to learn from one another in a confidential, timely and efficient manner. Efma members from around the globe will bring their unique perspectives, experiences, and best practices to the table.
Our collaboration programs will bring new offerings that will help your institution discover the answers to your burning questions/challenges and help accelerate the innovation process.
The M2M exchange is a 60-minute long knowledge sharing session between two non-competing member institutions mainly (can be arranged with competing institutions upon request and if both institutions are in agreement), it will help gather insights and feedback regarding a chosen initiative. The institution who has previously been successful with a similar project will share everything they learned, what works best, and challenges to be aware of.
The exchange will be mutual, member asking for an exchange will offer some other topic/product/expertise than what they are asking for help with . Efma will match the peer institutions for two productive sessions. Efma will ensure both collaborating institutions will benefit from the process.
Share your challenge
SYC is a 90-minute session where a member institution will ask for input and feedback from a selected group of non-competing peer institutions from other markets. The output of this exercise is a collaborative workshop between a bank sharing a challenge it is currently facing and the participants from other institutions providing input on how they are responding, or have responded, when faced with a similar challenge/issue. The involved institutions will discuss existing challenges in a pre-selected area so all participants can comfortably share their learnings, best practices, and keys to success.
The hosting institution (chosen by Efma from member submissions) will prepare a presentation about a challenge for the rest of the group. Efma will provide an expert moderator to lead and guide the discussion. The moderator will also create outputs with key learnings to be distributed among participants in a confidential manner.
Joint development program
The catalyst program is a 3-4 month collaborative program that helps financial institutions develop proof-of-concepts for the most pressing industry challenges and accelerate their innovation journey.
To be launched in 2022
I found matchmaking exchange a very fruitful and collaborative initiative as a way to problem solving, comparing and sharing notes and also as a way of getting decent and honest feedback from fellow practitioners around the globe. EFMA is a great repository of information and contacts and I encourage the team to do more of this and intensify these encounters and meetups.
We had an opportunity to e-meet with an innovative insurance company in Turkey which won various awards including Efma-Accenture Innovation in Insurance Awards 2019. The meeting was coordinated by Efma. We exchanged ideas about the future of insurance through digital transformation. It was a great experience and we learned a lot from each other.
Looking for peers who can share experience on similar challenges can be a daunting task, especially now that travel and networking events have been severely restrained due to the Covid-19 pandemic. Member connections have not only enabled us to continue broadening our network but also helped us building new professional relationships. Our team found this interaction very productive, insightful and directly relevant to our business priorities.
At numerous stages of our own transformation in the past and even now, we reach out to others to learn from them. And it is through the generosity of sharing sessions we have crafted some of our most successful programs. Hence, we were glad to host Stanbic Bank Kenya in 2019 at DBS Asia X through the EFMA Member2Member program to share some of our experiences and pay it forward. Not only was the service a great way to showcase our facilities and stories, we felt privileged to exchange ideas and visions with our fellow EFMA member. Sometimes you have to live and learn and sometimes from others you can learn to live.
Being part of the “Share Your Challenge” initiative organized by Efma helped us to broaden our horizons in the strategic area we have been focusing on. During the sessions we were connected with the peers facing the same challenge from all around the world. Not only was it significantly beneficial for us to compare lessons learnt and best practice implemented by other group participants, but these valuable exchanges also helped us to go deeper in the understanding and found potential solutions to this challenge. Moreover, the final output from our common discussions had accelerated implementation of the whole project internally.
Recently, we had an opportunity to share and learn from a leading bank with the most popular app in Thailand through Efma’s network. We really got lots of priceless expertise and inspiration. They were so nice and so open-minded! Also, we really appreciate Efma’s arrangement for the meeting.
We partnered with EFMA to help us get in touch with the most innovative insurance companies in the world. Our team searched for the most innovative insurance cases at EFMA Insurance Awards and asked for a meeting with the ones in charge of the winning innovations. Being one of the most influential insurance companies in LATAM, we are constantly looking for players from Europe, Asia and North America to bring their best practices to Latin America. The EFMA’s process of connecting with peers made it possible for us to structure similar cases in our company by giving the guidance necessary to search for solutions, run proof of concepts and finally launch new products/solutions in the Brazilian Insurance Market.
Why participate in these programs?
Interested in joining?
Interested in Collaboration opportunities? Kindly fill the form below with your basic information like name, job title, institution you work for and the market you operate from, also highlight the topic you need assistance with and preferred institution to help you out. Our colleagues will be in touch to work out the details.