Founder & CEO of IdeaFaktory
Steve Faktor is IdeaFaktory‘s founder and CEO. He is an entrepreneur, futurist and digital commerce expert. Steve is the former head of the American Express Chairman’s Innovation Fund and senior strategy and innovation executive Citi, MasterCard and Andersen. Steve has created several $100M+ businesses and deployed several enterprise-level innovation programs. He is author of Econovation – “a fascinating, erudite, bitingly funny, well researched, and…important book“ about capitalizing on the end of consumerism and rise of “producerism”. Steve is a top-rated global keynote speaker. He has keynoted major events for CFO Magazine, New York University, Harvard, PDMA, Frost & Sullivan, BlogWorld and numerous private corporate events. Steve writes provocative articles on innovation for Forbes and Harvard Business Review. He also leads workshops, ideation and training sessions based on his proprietary 4C’s of InnovationTM methodology. As Vice President of Growth and Innovation and Head of the $50M Chairman’s Innovation Fund. Steve’s successful launches included LoyaltyEdge, Private Sales (joint venture with Vente Privee) and Zync. He also led the development of the company’s portfolio management framework for the CEO and managed numerous, high profile strategy projects for the CFO and the executive committee. As Senior Vice President of Innovation and Growth Ventures at Citigroup, Steve led global innovation enablement, creating a fast-track product development process and a revolutionary new retail branch model. Before Citi, Steve held various senior product strategy roles at MasterCard. There, he invented Commerce Coalition and Commerce Intelligence, a loyalty and analytics program spanning large, noncompeting merchants. He also led the company’s pre-IPO, global merchant strategy, as well as innovations across the company’s credit, debit, prepaid, online payment, and commercial businesses. His bank clients included GE, UBS, and Citigroup. Before bravely venturing into the tumultuous, PowerPoint-laden, corporate world, Steve was a management consultant for Andersen and two boutique firms. He specialized in marketing, strategy, technology, process improvement, and customer relationship management. Steve led and sold numerous, multi-million dollar projects to a variety of clients including WPP Group (Ogilvy), Samsung, JVC, Bombardier, Boise Cascade, Omnicom Group, PSEG. Steve graduated from the NYU Stern School of Business and lives in New York City. He actively supports Junior Achievement and several Thai restaurants in his neighborhood.
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About IdeaFaktory: IdeaFaktory, an innovation hub, provides insights on growth, innovation, startups, tech, culture, and economics.