Category: Ecosystems

Everything about networks and networkmodels, Aswell as companies who use these networks.

DeFi 2.0

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Since DeFi Summer 2020, DeFi applications have become a significant trend in the blockchain industry. However, vulnerabilities of DeFi applications have also been identified over the past 24 months. The third and final part of our series “Decentralized Finance – a Hype, a Threat or an Opportunity for Regulated Financial Institutions?” takes a closer look at recent developments in the DeFi sector (DeFi 2.0) and how they address well-known challenges in the context of DeFi, such as the potential for errors when setting up smart contracts, the lack of incentive structures for investors, or the requirements for investors’ technical and professional knowledge, without compromising the strengths of DeFi applications.

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All, Data, Ecosystems, technologies

Race for the Pole Position in the Metaverse – Business Opportunities for Banks

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In the media, Meta (formerly Facebook) is positioning itself very strongly as the future metaverse, and it seems as if Meta is building the “one” metaverse. This impression is deceptive. In this article, we will talk about what a metaverse is, which competitors are currently building metaverses, and what opportunities they open up for banks.

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Digitization, Ecosystems, technologies

Towards an Application-Oriented Understanding of Business Ecosystems in a Management Context

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The term “business ecosystems” is not only a term used by the Competence Center Ecosystems of the Business Engineering Institute St. Gallen (CC Ecosystems), but it also attracts a large number of publications in the broader business and academic community. But what does it describe in concrete terms and what basic definition do we refer to when we talk about the development of business models within business ecosystems and the accumulation of “value” among individual actors (value capture)? In what follows, I first provide an overview of various aspects of ecosystem research. Subsequently, the focus will be on the definition of ecosystems as a specific structure of the organization of interaction in a network. Finally, implications for the work in the Competence Center Ecosystems are described.

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All, Ecosystems

Opportunities & Challenges for Banks in the Context of Decentralized Finance

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The term decentralized finance (DeFi) refers to a decentralized, blockchain-based architecture for processing financial transactions without intermediaries. we will show in this article why offering access to digital assets and DeFi business models is worthwhile for financial institutions and what challenges they have to overcome in order to provide such an offering to their customers. Based on practical examples, positioning possibilities for regulated institutions will be presented as well as concrete opportunities and challenges.

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All, Data, Digitization, Ecosystems, Regulations, technologies

9 Steps to Unlocking Business Ecosystems

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The development of a business ecosystem promises the opportunity to provide existing customers with integrated services through cooperation, in some cases across industries, and to gain access to new customer groups. However, building a business ecosystem by yourself is a challenging task, as there are many parties to orchestrate around a value proposition that is attractive to all participants. To increase the chances of success for such a project, it is worth taking a structured approach that not only helps with the design of a promising solution, but also with discovering potential stumbling blocks as early as possible and, at best, avoiding them. One such approach, which is already used by several banks in German-speaking countries, is presented in this article.

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All, Ecosystems

Federated Learning – Efficient Machine Learning That Respects Privacy?

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In the financial industry, customers expect high standards with regard to data protection and the integrity of their own data. Nevertheless, from the perspective of value creation, it is essential for banks to evaluate customer data using statistical methods and algorithms. Banks are thus caught in a conflict between maintaining data privacy and enforcing their own business model. To address this problem, the concept of “federated learning” has become established on the market in recent years, in which the data used for model training is always stored decentrally and the models are trained decentrally.

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All, Data, Ecosystems, technologies

What Exactly Is “Decentralized Finance”?

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Decentralized Finance (DeFi) has been one of the dominant trends in digital assets at least since the DeFi summer 2020. Since the summer of 2020, the digital assets community’s gaze has turned towards the possibilities of a decentralized financial ecosystem, DeFi applications have become highly popular and the prices of corresponding tokens have multiplied. Why is DeFi seen as having such great potential and what does this mean for regulated financial institutions? In the next three blogposts, I will outline these and other questions, show different perspectives and provide an outlook on the opportunities for regulated financial institutions in the context of DeFi. To get started, this blog post will outline the functionalities of DeFi applications, present selected use cases, and highlight opportunities and risks in this context.

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All, Data, Ecosystems, technologies

Open Banking and the (Eternal?) Crucial Question: Market-Driven or Regulated?

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For a good four years now, open banking has been a topic considered relevant by the Swiss financial industry. This was triggered in particular by the EU regulation PSD2, which became valid for all member states in 2018 and was subsequently implemented. Various players have been working on this topic since then, but implementation is progressing slowly.For this reason, the State Secretariat for International Financial Matters (SIF) feels compelled to make a clear announcement. Regulation seems to be getting closer.

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All, Data, Ecosystems, Regulations

Platform Confusion: A Spotlight on the Concept of Platforms and Their Classification in the Context of Business Ecosystems

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A platform, sure, that’s something you can build other things on. I’m sure we all remember the “Lego plates”, which provided the basis for giving free rein to one’s imagination and indulging in architectural test projects. In economics and science, it is unfortunately not as easy to define the platform concept as in the example described above. With this article, we will now try to shed some light on platform definitions. In addition, we will shed light on the core value driver – network effects – and establish the concept’s connection to business ecosystems.

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All, Ecosystems

Cross-Company Data Exchange in a Cross-Industry Trust Network – Added Value for Customers, Companies and Partners! 

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More extensive business cases such as opening a bank account or an account with a FinTech require several minutes of time each for a low-value-added customer experience – wouldn’t it be great if you could skip all the tedious steps relating to data collection during onboarding and start right away with the advisory service or the effective satisfaction of your core needs? These and other questions have been considered for a little more than half a year as part of a workshop series of the OpenBankingProject.ch (OBP) and discussed together with more than 30 companies from the Swiss financial industry. This article is intended to provide an overview of the background, initial delivery results as well as the current state of knowledge of the efforts within the OpenBankingProject.ch workshop series.

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All, Data, Ecosystems, Regulations

COP26 and the Circular Economy

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The Glasgow Conference and its decisions have prompted us to consider the sustainable development of our planet and the extent to which the Circular Economy can contribute to achieving climate goals. In this article, we first look at the climate challenges and the developments of the Glasgow Conference and then take a look at how companies can contribute to a more sustainable development of the economy by transforming their production according to the principles of the circular economy.

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All, Ecosystems

Core Banking Radar – «From Modularbank to Tuum – a core banking system that’s not only for banks»

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Since 2017, the Core Banking Radar has regularly analyzed the most common as well as emerging core banking systems in Switzerland using a comprehensive assessment model[1]. The latest publication highlights the Estonian neo-system Tuum and shows success factors for its use. The Core Banking Radar is a joint project of Swisscom and the Business Engineering Institute St. Gallen.

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All, Ecosystems, News, technologies

Gaia-X – A Revolution for the Financial Industry?

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Cloud solutions are faster, more flexible and less expensive than on-premise solutions. However, the best-known cloud infrastructures – Amazon Web Services (AWS), Google Cloud, Microsoft Azure and IBM’s Red Hat – all have one thing in common: they are headquartered in the USA and are therefore subject to the (decidedly lax) US data protection “law”. This makes using the services difficult from a data protection perspective, especially for financial institutions. The European Gaia-X project could be a real alternative.

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All, Data, Digitization, Ecosystems, Regulations, technologies

Towards a Framework for Understanding the Potentials of Tokenized Assets

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When attempting to assess the potential of tokens for their business, decision makers face the challenge that while there are tons of technical literature on token design, there are no simple decision support tools to help identify suitable use cases for their own business.
Therefore, we conducted a study to derive archetypes that can be observed in a variety of existing token-based solutions. These archetypes provide companies with an initial starting point for addressing the benefits and potential applications of token-based solutions.

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All, Data, Ecosystems, technologies

Successful Cooperation: What Banks and Fintechs Need to Consider

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For a long time, fintechs were seen as a direct threat and competitor to traditional banks due to their high innovative capacity and the disruption potential attributed to them. In recent years, however, it has become apparent that both fintechs and banks are more interested in cooperation than in competition. However, there are factors that can cause a cooperation between a bank and a fintech to fail. How to prevent this is the topic of this article.

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All, Digitization, Ecosystems, technologies

Embedded Finance

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61 % of Germans would obtain financial services from an online retailer. In contrast, 65% of German banks do not see their customer interface threatened. The situation is similar when it comes to the question of whether banks see themselves threatened by disruption from digital competitors, with 68% answering in the negative. In view of these contradictory figures, the question arises as to whether German banks are in the process of missing out on one of the most disruptive trends in banking: Embedded Finance.

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All, Ecosystems

Success Factors for Business Ecosystems – An Analysis for the Banking Market Germany from the Orchestrator’s Perspective

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The concept of business ecosystems has become established in the context of corporate operations in recent years. Business ecosystems seem to provide a particularly advantageous foundation in times of uncertainty and diverse customer needs. Often, companies that orchestrate value creation among the different actors are considered to play a prominent role when it comes to enabling business ecosystems. The question, however, is what factors are necessary for an orchestrator to be able to build a business ecosystem business model. In the following, I provide insight into the results my master’s thesis, which identifies such factors from an orchestrator’s perspective.

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All, Ecosystems

Strategic Positioning in the Insurtech Jungle
– Results of an Insurtech Analysis

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Insurtechs are constantly making news in the financial world. Whether they are seen as the big competitor to insurers, exploiting the limping digitalization of the big players, or helping conventional insurers to arrive in the 21st century, startups are bringing a breath of fresh air to the industry through new technologies such as artificial intelligence (AI) or natural language processing (NLP). Due to the abundance of new services and business models, it is appealing from both an entrepreneurial and scientific perspective to gain an overview of the structure and innovative capacity of the market.

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Digitization, Ecosystems

Classification of Blockchain-Based Applications: A Conceptualization from a User Perspective

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Despite many known advantages, it is still difficult, especially for practitioners, to identify concrete application areas for blockchain-based applications. This article takes this as its starting point and presents a sector-independent typology of application fields, which not only serves to analyze existing blockchain applications, but also provides users with an orientation as to which general possible uses there are for the blockchain and how complex an initial implementation of the respective applications can turn out to be.

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All, Data, Digitization, Ecosystems, technologies
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