Steve Faktor Biography

Steve Faktor is a digital business guru, futurist, and inventor who is known for asking "why not?" and pushing others to do the same. Steve has built multiple $100-million-plus businesses, produced billions in sales volume, and implemented three enterprise-level innovation initiatives as a senior innovation and strategy leader at American Express, Citi, MasterCard, and Arthur Andersen. Steve is also the author of Econovation, a hypnotic, humorous story about the future of the US economy and the inventions it will need. Steve is a well-known global keynote speaker on new development prospects, and he facilitates workshops, brainstorming sessions, and training sessions based on his unique 4Cs of Innovation(TM) methodology. Steve managed worldwide innovation enablement at Citigroup as Senior Vice President of Innovation and Growth Ventures, establishing a fast-track product development process and a revolutionary new retail branch model. Before joining Citi, Steve worked for MasterCard for over five years, where he created Commerce Coalition and Commerce Intelligence, a loyalty and analytics program spanning big, non-competing retailers. He was also in charge of the company's pre-IPO, worldwide merchant strategy, and innovations in the credit, debit, prepaid, internet payment, and commercial sectors. GE, UBS, and Citigroup were among his bank clients. Steve was the Vice President of Growth and Innovation at American Express, as well as the Director of the $50 million Chairman's Innovation Fund. Among Steve's successful ventures are Zync, LoyaltyEdge, and Private Sales (joint venture with Vente Privee). He also oversaw the development of the company's portfolio management framework for the CEO, as well as a number of high-profile strategic projects for the CFO and executive committee. Before fearlessly entering the turbulent, PowerPoint-laden corporate world, Steve worked as a management consultant for Andersen as well as two smaller organizations. He was a marketing, strategy, technology, process optimization, and customer relationship management expert. Steve oversaw and marketed a number of multi-million dollar projects for clients such as WPP Group (Ogilvy), Samsung, JVC, Bombardier, Boise Cascade, Omnicom Group, and PSEG. Steve is now the CEO of Blue Beacon Partners, LLC (dba ideafaktory), a company that creates, incubates, and invests a portfolio of innovative businesses and patents. Ideafaktory also assists clients in thinking large, inventing better services, and delivering long-term success. Steve's current views on the future of business, fresh growth prospects, and methods to revitalize American innovation may also be found on the ideafaktory website.

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