Global innovation award for Timerepublik project

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09.10.2017
TimeRepublik BAI Innovation Award

On Friday in Atlanta, USA, the Intesa Sanpaolo Group won the 2017 BAI Global Innovation Award in the Innovation in Human Capital category with TimeRepublik, a sharing economy project created for the Group’s employees. Intesa Sanpaolo is among the top banking groups in the euro zone.

The project was conceived by Intesa Sanpaolo’s Innovation Center, which scouted for the start-up TimeRepublik, and was created together with the ALI group, the Intesa Sanpaolo Employees’ Association. The prize was awarded for the Bank’s ability to leverage on exponential trends such as the sharing economy, and alternative currencies such as time, creating a new concept of company community. The project was conceived by adopting open innovation together with TimeRepublik, a social community of people willing to share their time, passion and personal skills in which time is the currency.

Within TimeRepublik – following an initial trial phase – the ALI Group community was founded (the Intesa Sanpaolo Employees’ Association), in which all members, currently working or retired, can exchange their time, discovering and appreciating the talents nurtured by other members outside work. Members can also benefit from these talents in order to form small or large collaborations, or collective projects. This is exactly what happened during National Medicine Collection Day, organized by the non-profit organization Banco Farmaceutico Foundation, which took place last February, when more than 185 volunteers from the ALI Group gave their time on a Saturday and were paid in turn with hours.

TimeRepublik is an innovative and participatory experiment in the sharing economy within the Banking Group, which makes the spirit of sustainability and solidarity a reality. The Intesa Sanpaolo Employees’ Association promotes TimeRepublik as a tool to improve the quality of relationships between people and within the Company.

Intesa Sanpaolo is among the top banking groups in the euro zone, with a market capitalisation of 50.1 billion euro. The group was formed by the merger of Banca Intesa and Sanpaolo IMI. The merger brought together two major Italian banks with shared values so as to increase their opportunities for growth, enhance service for retail customers, significantly support the development of businesses and make an important contribution to the country's growth.

The BAI Global Innovation Awards recognizes industry leaders who are changing the face of the industry and positively impacting profitability, efficiency and customer experience. Since 2011, BAI’s Global Innovation Awards has grown from two categories to 10 categories plus three special awards recognizing outstanding achievements across the primary Awards categories. Nominations are evaluated by the Innovation Circle Judging Panel, a prominent roster of leaders from around the world who carefully weigh each award application to uncover the brightest in innovative offerings based on originality in the market and the impact to consumers and the industry.

(SK)

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