Consumers trust banks with their personal data, which gives financial institutions a key advantage in the platform economy.
In many ways, banking has changed little over the past 1,000 years. Although computers have replaced abaci and parchment, underlying principles of banking have remained remarkably consistent. However, a millennium of constancy is now changing at warp speed. Traditional industries are interacting in ways that were unthinkable even as recently as a decade ago.
Financial services are being mixed in with services or products from other areas and industries, and banking is becoming embedded – sometimes almost invisibly – in non-bank business processes. New types of ecosystems are developing, powered by dynamic new business models, often based around platforms and network economics.
How can banks reorganize the way they do business to compete successfully in an age of new cross-industry platform business models?
Overview of topics covered:
- The changing face of business
- The trust advantage
- Opportunity and disruption
- Banking on the future