Apr 16

There’s an app for everything

posted 9:00 AM Apr 16, 2012 by Peter Aceto under Culture



Do you think about the time before Google, before Twitter or Angry Birds? I think about it when I try to reason with my kids about the amount of apps they love to download on my devices.

It is fascinating how technology has changed how we live, and equally fascinating to witness the changes in behaviour in our children. ‘Are we there yet?’ is now replaced by ‘12 more miles, 5 more miles.’ Technology has given us the world at our fingers tips.

None of us can imagine living without the Internet or our mobile devices and tablets. And if you can think of an idea, there’s no question you can find an app for it. One could argue that there simply are too many options, too much information. But as per my previous post, the solution lies within each of us to manage our time and find ways to disconnect. There is no point in arguing that certain technological advancements do in fact make our lives much more comfortable.

I see that in my everyday life. I have a natural interest in technology and have greatly benefited from a select few apps. Great apps, as with anything, always come recommended, or at times, by stumbling upon some my children download – one in particular ‘Hit the Apple’ has been quite useful and fun!

ProPrompter is one of my favourites. I use this app on my iPad as a smooth scrolling professional teleprompter, which is wonderful considering I’m not a fan of paper. It is also simple, and very easy to use and makes speech deliveries much more efficient.

Starbucks has a very interesting app. Not only does it have a beautiful interface, but also the richness of the experience has changed my behaviour towards coffee. The menus, rewards and store locations keep me engaged and the ability to use my phone to pay for coffee – without a fee – is brilliant.

TeamSnap gives my wife and I on-the-go access to team calendars, coaches’ numbers, team scores and pictures as we plan our kids’ sports events. This app has kept us sane.

I am particularly fond of the ING DIRECT app. It has come in handy on numerous occasions – most recently when I forgot my wallet while out for dinner with friends, the app allowed me to instantly send an email money transfer from my iPhone to cover my portion of the bill. With a great interface and simple user experience, there’s no doubt I am exceptionally proud of the nearly 3000 downloads we experience per week.

Twitter and Hootsuite are my go-to social media apps. They are a great source of information and connection that I experience daily. Hootsuite is very useful for scheduling my tweets when I travel and Twitter’s simple interface gives me quick access to a select list of topics I am interested in.

Our habits and expectations have changed dramatically and the boundaries between online and offline are disappearing. We depend on a range of devices to keep ourselves connected to friends, colleagues and information in different ways. The reality is that we are experiencing a technology revolution. It’s really exciting to be part of this change, and certainly for us at ING DIRECT, as our culture allows us to experiment, learn and adapt rapidly.

Using technology to help Canadians live better lives is a key driver for our business. If we can inspire them to spend less, save more time and show them there is a different way to do banking, then our team would have accomplished a lot. Our challenge sometimes is that we have more ideas than we can implement. And our CIO will tell you that our focus is not so much on specific technologies. Instead, we often ask ourselves how do we provide value for consumers? How do we meet their needs? How do we keep things simple? We focus on two areas relentlessly – context and simplicity. Because it’s not about a transaction, it’s about the experience. Whether you’re using an app, the website or visiting an ING DIRECT café.

It’s fascinating to witness this rapid change to our way of life. Technology will be a key driver as businesses prepare for the future. This change can have a very positive impact on the corporate world if businesses act quickly and appropriately – keeping in mind that consumers’ mindsets have changed and their voice is stronger than it’s ever been.

 

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Apr 2

The benefits of disconnecting

posted 9:00 AM Apr 2, 2012 by Peter Aceto under Leadership


We live in a world of relentless demand. We go from one small thing to another trying to meet daily obligations. Information comes at us at unprecedented speed, and we find ourselves juggling multiple activities trying to keep up. We are fully engaged some of the time and partially engaged most of the time. Sound familiar?

So what happened to downtime?

I recently met a CEO who runs 3-4 hours at a time at least once a week. No iPod – no music – just running. As an occasional runner, I shared his outlook on the immense benefits of disconnecting and taking time away from the gravitational pull. Is this possible? Where can we find the time?

At ING DIRECT, our business is always evolving. We live in an exciting time of change and our culture is designed to meet the growing needs of our customers. To succeed we have to be nimble, innovative and maintain our inherent entrepreneurial spirit. As the CEO of ING DIRECT, my responsibility is to keep the business moving and ensure we are making a difference in the lives of our employees and the financial wellbeing of Canadians.

I enjoy being connected with people, at work, at home and particularly through social media. I am fascinated by technology and the ability to exchange information in a matter of minutes. I also manage a growing business with over 1000 employees, nearly 2 million customers, governance, compliance, a shareholder’s structure, email, and tactical day-to-day requirements. But when I find the time to disconnect, go for a long run or sit and think, I am reminded of how vastly liberating and mind expanding it is to think clearly and deeply. These are the moments when my thoughts are heard, complex problems are magically solved, priorities are clarified, and I have renewed energy and inspiration to get things done.

As human beings, we have an innate instinct to push that much harder when the pressure soars. We are compelled to do more, know more, experience more, and while that is admirable, without pause, without setting priorities, we very quickly experience burnout. At ING DIRECT, we always encourage our leaders to be accountable for their health, to be aware of the physical and mental manifestations of pushing too hard.

Downtime, in today’s world of ‘growing up digital’ seems unattainable. But it’s not. It is in fact critical for leaders to find it. A big mistake we make is letting email drive our day. We are constantly reacting to tasks set by others. We are splitting our attention and gravitating towards tactical and self-imposed urgencies. And with the surge of multiple mobile devices, it becomes that much more difficult to maintain priorities. But it’s not impossible.

The fact of the matter is some of us are better at it than others. Many of us manage important tasks and prioritize personal needs without fear of interruption. I often ask people how they find the time. What works for you? How do you pause?

I audit my calendar regularly which has always worked for me.  Am I spending my time on the right priorities? Am I spending enough time with the team? Am I present in the interactions I am having? Am I allocating time for personal reflection, family, personal health? If I’m not careful, months would pass and I can look back and be disappointed with what has been accomplished. I’m not suggesting it’s easy and I’m not always successful, but I certainly recognize the significance of personal reflection in attaining balance.

Technology is evolving, and ways of staying connected are increasing at incredible speed. Creating opportunities for disconnection is crucial and could quite possibly be the next trend to be explored. Personal reflection time is an individual responsibility, and it must be protected. While corporations have a role in identifying and supporting its importance, the answer lies in self-awareness, which has always been the first step in solving any problem.

Perhaps this quote by Picasso is excessive, but it is noteworthy: Without solitude no serious work is possible.

 

 

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Mar 15

Is it really a literacy issue? My take on Financial Wellbeing.

posted 9:00 AM Mar 15, 2012 by Peter Aceto under Financial Literacy


The term ‘Financial Literacy’ doesn’t sit well with me, largely because we are implying Canadians are less than smart. I’d like to believe that we all care about what happens to our money, but perhaps Canadians are simply led to confusion.

Let me be clear – I fully support the Government’s commitment to Financial Literacy. Strong financial management is important for our Government, and just as vital for each of us as individuals. ING DIRECT has long held concerns regarding the level of consumer debt as compared to savings. It is important that Canadians understand the implications when personal debt is growing faster than income, and how this impacts everyday financial decisions as well as long-term financial wellbeing.

But consider the banking industry as a whole. Banks have benefited by having Canadians be unclear about their finances, through lack of transparency and the use of unnecessary financial jargon. Comparing mortgages or investing in RSPs for the first time can be a daunting task when met with complicated applications and big financial terms and statements. Canadians start with the best intentions, but with exposure to unnecessary ambiguity, they are led to believe that managing money is an enormous task. It’s simply not. The basic financial needs for the typical Canadian household are not difficult to manage at all.

Historically, Canada has been a nation of Savers, but we can’t ignore the fact that we have lost our way in recent years. Our use of credit has increased and so has our spending. I am encouraged that a recent ING International survey found that Canadians are more willing to use savings to pay down debt than other parts of the world. This is good news. It’s the first step toward reducing debt, which is an important aspect of experiencing financial wellbeing, and securing the future of our children and the country. But the responsibility is not entirely on the individual Canadian.

Following a meeting with the Minister of Finance, the Honourable Jim Flaherty, for a pre-budget roundtable discussion in PEI in December, I thought of the magnitude of the commitment the Government has made to balance the budget by 2014/2015. I applaud the Minister for his efforts and for consulting and listening to business, academic and sector leaders from across the country on advancing Canada’s economy. It was an honour to be asked to participate, and offer the views of ING DIRECT on how to achieve a sustained economic recovery for Canada.

At ING DIRECT, we advocate the importance of saving. We believe in telling Canadians the truth and providing information to help them make smart decisions on their own. We encourage them to know how much to save for the road ahead and we want to get young Canadians on the right track by starting to save now for their retirement. Simplicity and clarity matter in the financial tools we provide Canadians. Complexity will drive them to feel less adequate about their own ability to take care of their money.

I have always believed that financial wellbeing is attainable once we understand the importance of being informed. That, accompanied with making basic finances clearer and simpler for all Canadians to comprehend is an important shift in the right direction: helping the Canadian economy and promoting personal financial wellbeing. This is a very serious matter for us at ING DIRECT, which is why we created the Canadian Charter of Financial Independence – a road map to help encourage Canadians to commit to a healthier financial future and show them the basic steps to getting there.

Financial Literacy will continue to generate much debate in our industry, with similar discussions as the most recent article on ‘Who Should Teach Us To Be Fiscally Responsible?’ by Jonathan Chevreau and Garry Marr of the National Post. Both bring up interesting points on the topic. What I have come to realize is that our business at ING DIRECT is less about banking and more about motivation and education.

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Mar 1

Measurable Passion

posted 9:00 AM Mar 1, 2012 by Peter Aceto under Culture


Why are certain people successful and others equally gifted, not? Why are supposedly average teams beating star-studded favourite teams? Why are certain companies always the first choice for customers? That’s what Jan Hommen, CEO of ING Group, asked in a recent presentation.

His answer? “Passion for execution.” The discipline and desire to make things happen – to consistently deliver excellence. While I fully support Jan’s statement, I will also add, that without a clear common purpose, passion can be irrelevant.

What I am referring to is the cultural mindset of an organization. Connected individuals, not companies, are the ones harnessing the power of influence. If you look at the current state of the world, we are in an amazing time of change. Technology is altering our digital infrastructure and how we interact with one another; and organizations are challenged to meet the new transparency demands of both customers and employees. Much more is expected from businesses today. To lose sight or discount these strong factors of long-term change is detrimental.

And so, the concept of ‘passion’ becomes an important part of the mix. At ING DIRECT, passion holds a great deal of value. But if you were to ask our head of HR, she would be specific in clarifying the assumption that some people make about passion. It goes beyond enthusiasm and big personalities. Passion, we believe, is most effective when two areas are combined. Of course, an individual with a positive aura, a natural go-getter attitude, likeable personality, energetic, and driven, would be a preferred candidate for any organization, but use those attributes in the wrong context and you might ignite a conflict.

For passion to be most effective, it needs to tap into a belief system, a purpose for why we do what we do, and it has to match the purpose and values of the organizations we are part of. That is what defines engagement. Are your personal values being encouraged? Is your ‘why’ aligned with that of the organization you are part of? Too much of a misalignment will cause conflict – conflict within yourself or within your team. Either way draining valuable energy that should never be wasted. This alignment simply can’t be fabricated or trained. Either you believe or you don’t. Either you are truly engaged or you’re not.

That is what we look for at ING DIRECT. We established a process called ‘Hire for Orange’ to help us identify that passion that is integral to our culture. At the final stage of an interview, the successful candidate is met by an ‘Orange’ peer – someone whose objective is not only to detect a go-getter and positive demeanor, but to genuinely believe and be inspired by a conviction to make a difference, to affect change.

It’s about creating genuine engagement – whether with employees or customers. That is our measure for passion at ING DIRECT. We continuously gage the level of commitment employees and customers have towards the brand. What is the mood of our organization? How are our customers and communities feeling? Do they believe in us? What do they say about us? Even if we don’t ask the questions, the answers are there, in the passionate points of views Canadians and our employees have of ING DIRECT.

I said it earlier, connected individuals are the ones harnessing the power of influence – we simply can’t ignore the human element in business. So whether we can measure passion is neither here nor there. What’s important is that we can’t dismiss passion, particularly when it is aligned with a cultural mindset. It has a substantial impact on the bottom line. With passion, with alignment nearly anything can be achieved in life and in business. Harnessing this energy is difficult but certainly worth pursuing.

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Feb 15

The relationship between love and money

posted 9:00 AM Feb 15, 2012 by Peter Aceto under Savings


Consider this. You’re on a date with someone you are pursuing a long-term serious relationship with. You’re trying to figure out the best way to bring up the topic of finances, yet you end up talking politics instead. Why is it so hard?

Even though 92% of Canadians want to date someone with a similar money outlook, only 50% actually know everything about their partner’s finances. This, according to a recent study we conducted at ING DIRECT.

Obviously, money isn’t a popular subject couples rush to talk about when they fall in love. But it is certainly something that should be on the radar. Money is a huge factor in the health of a relationship. Knowing how your partner views money, spends money and plans for the future are important considerations in a relationship, and topics that should be discussed sooner rather than later. It really is a fundamental values-based decision. How will we view money? What does it mean for us as a family?

When I look at my personal views on money, they stem back from how I was raised. We were a family of savers. I can remember from an early age doing odd jobs, working summers and getting a real sense of what it is like to work hard, and save! Those values also shaped how we view financial wellbeing in my own family.

I am not suggesting that we treat relationships like a business. However, as you become more involved with someone, couples need to discuss what each partner is bringing to the table in terms of their finances, and decide how they’re going to manage those finances going forward.

Luckily, my wife and I see eye to eye on the topic. We are savers by nature. We get a real kick out of watching our savings grow. We’re deliberate about buying things. We delay buying things so that we won’t need to use credit. We have a long term view on finances, probably best described as a marathon, not a sprint.

I strongly believe those lucky enough to be self-aware, those who are open about their views within a relationship, are the ones experiencing financial wellbeing in the end. They are not affected by other influences. Financial decisions are theirs to make. But it’s not easy. Do you ever find yourself ‘caught-up’ with what others are doing? Thoughts creep up in your mind; my neighbour’s kitchen sure is nice, maybe it’s time to renovate!

When you know who you are, what’s important for your family, and why you do what you do, you have a better perspective on how you spend your money. It’s about being in control of your choices, being in control of your life. Are you making these important decisions? Or is it your neighbour and the whirlwind of consumerism that surrounds us everyday?

Take Valentine’s Day for example. How much pressure did you feel this year to make sure you come home with something? You feel guilty if you don’t spend, and you feel torn about why you are spending on silly things. But before I start upsetting Cupid, I am not proposing that you boycott the Day. My message is simple: save first, pay yourself and your family first, and then if you want to splurge, do it. But understand who is in control, and who is making the decisions for your spending – how much you spend and when you spend it.

Couples should be having these discussions, and often. Money can no longer be a taboo subject. Learning and talking openly about it is a sure way to have financial wellbeing in your life and in our country.

I love what Gail Vaz-Oxlade recently said at a ‘Love and Money’ session at the ING DIRECT café in downtown Toronto: “Learning about money takes commitment. Read, think, talk, and brainstorm. That’s how you get better at it.”

Hope everyone had a terrific Valentine’s Day!

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