It’s not just for financial institutions; government agencies can use this digital ledger #technology to protect trusted records and simplify interactions with citizens.
McKinsey Insights & Publications
It’s not just for financial institutions; government agencies can use this digital ledger #technology to protect trusted records and simplify interactions with citizens.
McKinsey Insights & Publications
#Chase and #Intuit may have just solved the main issues with account aggregators. The companies signed an agreement this morning, giving customers the option to authorize Chase to electronically share financial #data securely with Intuit’s financial management applications, such as Mint, TurboTax Online and QuickBooks Online. #Banks, and Chase inRead More
Bank Innovation
Professionals in the financial services #industry are focusing their energy on #regulation and #data #management, according to a survey from consulting firm and #technology services provider Synechron. Financial regulation remains the top concern for the new year among those in the financial industry, with 38% of the firms surveyed markingRead More
Bank Innovation
Quite a few #fintech ventures received funding this week; though perhaps surprisingly #blockchain is not an area featured on this list—perhaps with all of the recent blockchain proof-of-concepts that are running, investors and angels thought it was time to take a stronger look at artificial intelligence, big #data, and otherRead More
Bank Innovation
A check on #stock #exchanges before Halloween makes sense. We covered stock exchanges in a two part series in May, with a focus more on #Fintech innovation and naturally, we found #Blockchain parties and concerts all over the planet. These activities continue to spread but today I want to highlightRead More
Bank Innovation
In the Age of Information, companies that have made #data their business are getting more competitive as they seek to tame the mountains of available data into useful, actionable insights and answers. The #banks have the data. #Fintech startups want it, and argue it is better for #customers, but of course,Read More
Bank Innovation
Credit Suisse, Citi and HSBC are among seven #financial #firms to participate in a #blockchain #data #management trial.
It’s that time of year again! Today #FinovateFall debuted in New York, where thirty-nine #fintech companies debuted their newest toys to an appreciative, fintech-hungry audience. The #technology presented ranged from the latest in #biometrics, including voice and facial recognition, the latest in how to create insights for big #data use–andRead More
Bank Innovation
In The Rise of Data Capital wird die Entstehung einer weiteren Kapitalform beschrieben. Inzwischen haben die Daten, vor allem die personenbezogenen, einen hohen ökonomischen Wert. Die Geschäftsmodelle von Facebook, Google und Amazon würden ohne die Möglichkeiten, Daten zu sammeln, aufzubereiten und zu verwerten, nicht funktionieren.
#Data #capital is one of the most important assets of every online consumer service created in the past decade. Google, Amazon, Netflix, and Uber have all realized that data is more than just a record of something that happened. Data is raw material for creating new kinds of value, especially digital services. And sometimes, these digital services—whether offered on their own or wrapped around physical products—disrupt incumbents and reorganize entire industries.
Datenkapital kann sogar sehr beständig sein:
Data capital is the recorded information necessary to produce a good or service. And it can have longterm value just as physical assets, such as buildings and equipment, do.
Obwohl ihr Geschäftsmodell in seinem Kern aus Informationsverarbeitung besteht, haben die Banken den ökonomischen Wert der Daten erst spät, womöglich zu spät erkannt. Ihr Informationsmonopol, ihre Rolle als die Clearingstelle der Informations- und Warenströme in der Wirtschaft haben die Banken verloren. Diese Funktion haben heute in weiten Teilen die großen digitalen Plattformen wie Apple, Amazon, Google und Alibaba übernommen. Durch den Zugang zu riesigen Datenmengen sind die Plattformen in der Lage, ihre Angebotspalette systematisch auszubauen:
Platforms increase their staying power by adding new features that support more linked and adjacent activities for players in each market.
Die Banken müssen sich entscheiden, welche Rolle sie spielen wollen. Überlegenswert wäre die Wiederbelebung des Relationship Banking. Die Bank als Interessenvertreter der Kunden gegenüber dem unstillbaren Datenhunger der sog. Datenkraken. Oder wie das WEF in The Role of Financial Institutions in Building Digital Identity schreibt:
– FIs act as established intermediaries in many transactions and are therefore well positioned as identity intermediaries
&8211; FIs are typically trusted by consumers beyond other institutions to be safe repositories of information and assets
This article first appeared here
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