Banco Santander and Nova School of Business and Economics created the SANTANDER LIVING INNOVATION LAB. The objective was to promote disruptive innovation within the bank with a unique approach using the school ecosystem as a living lab where:                       

1. Real-time insights are gathered from students, faculty, alumni, and staff;
2.  New ideas and concepts are co-created by bank employees and students in specific innovation labs; 
3. Prototypes and proofs of concept are validated using the Nova SBE network.

The model has three main building blocks: (1) the Living Data Lab observes behaviours and preferences; (2) the Living Innovation Bank is the engine for new financial product and process development as well as for fast-track implementation; (3) the Innovation Agile Development takes the concepts to the next level faster and cheaper, using startup methodologies. The process also makes sure that entrepreneurship and customer service concepts are high on the agenda of the management team and front line employees.