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Podcast: HBR On Strategy
Episode: How Eastern Bank Shifted Its Strategy to Compete with Online Lenders
Description: As technology changes everything, how can existing businesses create innovation and change from within?
Harvard Business School fellow Karen Mills studied how one 200-year-old regional bank in the U.S. used intrapreneurship to develop a completely automated small business lending product to compete with online lenders.
Mills breaks down the case study of Eastern Bank’s strategy for innovation—from its early partnership with a fintech entrepreneur to its eventual spinoff of Numerated, the online lending platform it developed in-house.
Mills is the author of Fintech, Small Business and the American Dream.
Ke...