OPEN, SESAME! The Brazilian financial sector with doors open to innovation

Abstract

The objective of this article is to identify the current strategies of innovation in organizations of financial sector publicly listed at Brazilian stock market, seeking to understand what are the main strategies observed in the light of innovation theories. To this end, six organizations were selected, 3 banks and 3 companies of the insurance market and carried out documentary research on publicly disclosed information from 2016 to 2017. This is an exploratory-descriptive research, based in a qualitative approach study of multiple cases. Data collection was done through documentary research, content analysis being the technique used for treatment and understanding of the data obtained. We identified, among the different typologies of innovation strategies, that the locus of the study are open to innovation, adopting innovation as a strategic guideline to reach its objectives. The study contributes to the identification of the adoption of open innovation by organizations of the Brazilian financial sector to face the challenges of acting in a highly competitive sector.