The financial services sector needs to overcome its rigid, authoritative approach if it's to respond to new technologies and consumer behaviors, but any leader can benefit from being open to ideas, having long-term vision and allowing inventive failure, writes Jean-Marc Laouchez. "By making it clear that the business is open to new ideas, leaders can help create a culture that stimulates them. Even if it's within the confines of their existing business model, being open-minded can open the door to useful innovation for banks," he writes.

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