MUFG is a leading global financial services group and one of the largest banking institutions in Japan.
Stéphane Alex, Head of Global Customer at MUFG realised that there's a need for awareness and knowledge to fill the gap between people who are doing business and people who develop the technology. This was the reason he and his team at MUFG decided to become a part of CFTE’s Extrapreneurship programme.
The Extrapreneurship programme is an experience-based learning programme which challenges participants to solve real-world entrepreneurial business problems. The programme aimed to play a primary role in helping MUFG bridge the knowledge gap that existed among their talent.
The concept of ‘Extrapreneurship’ represents the best of both worlds of intrapreneurship and entrepreneurship, with the goal being to deliver current services or products, or to boost a certain metric, be it productivity, efficiency or profitability.
The safety nets that extrapreneurship provides lets established companies revamp and revise their outlook while maintaining their current targets.
MUFG joined CFTE’s Extrapreneurship programme which gave learners the opportunity to work with the Hong-Kong based Fintech, Neat. The 8 week-intensive programme allowed learners to work in global virtual teams as they researched and created strategies for expansion of challenger banks in Asia. Each strategy was carefully created and then pitched to Neat’s CEO David Rosa.
The MUFG Team were announced as the winners of the market entry into India CaseStudy during the Extrapreneurship programme. The challenge set by the programme helped the team achieve a much needed change in mindset.
The two-month experience was fascinating for the team, as it pushed them to think out-of-the-box and pitch something more creatively and in a way which they have never done before.
Another important takeaway for them was the shift in their mindset as they understood that while dealing with solving complex problems, the WHY is way more important than the WHAT.
The programme was successful in giving the team a new outlook on business and they were encouraged to replicate the same innovative and problem-solving techniques in their large organisation.