Category: News

News published by other companies, often with added comments by us.

Potentials and challenges of the Swiss E-ID (2/2)

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Switzerland will provide electronic proof of identity (E-ID) for Swiss citizens in spring 2026. The underlying trust infrastructure is based on the Self-Sovereign Identity architectural approach. These developments offer significant opportunities but also challenges for the various economic sectors in Switzerland.
In this second part of a series of blog posts, Stefan Knaus describes the proof of value of the OpenBankingProject.ch on the topic of “Use of Swiss E-ID”. The focus of this article is on the business implications of using the Swiss E-ID for the business architecture of the project participants and the options for Swiss banks regarding participation in the Confederation’s trust infrastructure.

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Potentials and challenges of the Swiss E-ID (1/2)

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The Swiss Confederation will provide electronic proof of identity (e-ID) for Swiss citizens in spring 2026. The underlying trust infrastructure is based on the Self-Sovereign Identity architectural approach. These developments offer significant opportunities for the various economic sectors in Switzerland but also challenges in the effective implementation and use of verifiable credentials. In addition to the use of the Swiss e-ID as proof of identification for opening a bank account, participation in the Confederation’s trust infrastructure offers further potential for Swiss banks. The e-ID can be used in other customer processes and significantly improve the customer experience. In addition, banks can also issue their own proof of identity on the Confederation’s trust infrastructure (Source).
This is the first part of a two-part blog post series on the Proof of Value of the OpenBankingProject.ch on the topic of “Use of Swiss E-ID”, which took place from October 2024 to February 2025.

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All, Data, Digitization, News, Nicht kategorisiert, Regulations, technologies

Wealth Management in the Digital Age: Innovation as a Success Factor

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Wealth management is at a turning point. Never before have challenges and opportuni-ties been as closely linked as they are today. While the number of high-net-worth individ-uals (HNWI) and ultra-high-net-worth individuals (UHNWI) in Germany and Switzerland continues to grow [1-3], their expectations are also rising: individual advice, the urge for more self-determination, customized investment strategies and digital services are more in demand than ever [3-5].
In cooperation with Commerzbank AG, the Business Engineering Institute St. Gallen has published the white paper “Leading with Innovation in Wealth Management”. It high-lights key developments and trends in wealth management with a particular focus on application programming interfaces (APIs) and distributed ledger technology (DLT). This article summarizes the key findings and shows why innovation can contribute to sus-tainable competitiveness in wealth management.

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AI cases in banking – AI radar of the Business Engineering Institute St.Gallen

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The financial industry is beginning to undergo a profound transformation through the use of AI. In particular, the use of generative AI opens up the possibility of creating new content such as texts, images, videos or music. In autumn 2024, we started building an AI radar that systematically analyzes use cases of banks in German-speaking countries. This blog post offers an overview of use cases and maturity levels in the banking sector and provides exciting insights into the status quo.

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AI, All, Data, News, Nicht kategorisiert, technologies

Retrospective of the 11th member event of the OpenBankingProject.ch

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On November 13, the members of the OpenBankingProject.ch met for the eleventh time to discuss current developments in the field of open banking in Switzerland and to take a look into the future together. The event offered exciting insights into the latest advances and chal-lenges in the sector. In this blog post, the most important highlights and insights of the day are described.

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Data, Digitization, News, Nicht kategorisiert, OpenBankingProject, Regulations, technologies

Five Cloud Myths about Core Banking Systems (Article 3)

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In collaboration with Swisscom, a series of articles has been created to answer typical cloud myths in a banking context. We will try to explain these together with three articles and give you simple and common cloud wordings to help you understand the cloud.
In today’s article, we will address the last three myths. If you missed the last article about myths 1 and 2, check here.
Myth 1: The cloud always saves money
Myth 2: The cloud makes it easy for cybercriminals
Myth 3: Once you’ve chosen a cloud provider, there’s no going back
Myth 4: Software in the cloud makes you more innovative
Myth 5: Cloud migration is too complex

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Five Cloud Myths about Core Banking Systems (Article 2)

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In collaboration with Swisscom, a series of articles has been created to answer the typical cloud myths in a banking context. We will try to explain these together with three articles and give you simple and common cloud wordings to help you understand the cloud.

In today’s article, we will clarify Myth 1 and Myth 2:

Myth 1: The cloud always saves money

Myth 2: The cloud makes it easy for cybercriminals

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Understanding Bitcoin as a productive asset: Part 2 

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A Bitcoin-based financial system will necessarily be built in layers. This is because today’s financial system is also multi-layered and recognizes an inherent hierarchy of money-like assets. To properly assess the potential of Bitcoin as a productive asset, it is essential to understand the trade-offs that come with it. In the first part of this two-part blog post, Bitcoin was introduced as a novel monetary asset and the necessity for productive yield generation was discussed so that Bitcoin can take the next step in its evolutionary phase. In the second part, three perspectives on Bitcoin yield products will be evaluated concerning their trustworthiness and the associated risks and trade-offs. Based on these insights, the gold standard of a Bitcoin yield product will be defined and what can be concluded from this for banks and their customers will be explained.

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Workshop series “digital customer proximity”

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OpenBankingProject.ch is currently organising a series of workshops on the topic of “digital customer proximity”. Around 40 participants from 30 companies from the financial sector and beyond are examining various target images and use cases on how banks can use concepts such as open banking or embedded finance to position themselves closer to their customers. The aim is to support end customers with digital service access outside of banking and to assist them with banking data, products or services. In this blog post, Stefan Knaus presents the workshop series, the results of the first events to date and the content planned for the future.

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Data strategy in connected business models

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From 2019 to 2024, the global volume of digital data generated or replicated annually almost quadrupled – a trend expected to persist (Tenzer, 2024). Technology companies are demonstrating how data is being used to generate revenue that often dwarfs physical assets. Neglecting data can put companies at a significant disad-vantage in the future, leaving them behind data-driven competitors. However, many companies do not utilize the majority of their data and face issues such as data breaches and data silos (DalleMule & Davenport, 2017). The key is to develop and implement data strategies. This blog post presents a categorization for data strategies and their relevance for digital companies and banks in particular.

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What is Bitcoin’s next evolutionary step after the introduction of the Bitcoin ETF – and what do banks need to bear in mind?

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Since the launch of Bitcoin spot ETFs in the US in January 2024, Bitcoin has become accessible as an asset to a broad institutional investor base. This marked a significant milestone on its journey as a monetary asset. The next major step in Bitcoin’s development as an investable asset is to unlock yield generation opportunities (similar to dividends on stocks or coupons on bonds). The first part of this two-part blog post introduces Bitcoin as a new type of monetary asset and the need for productive use of Bitcoin and analyses how initial approaches in this area led to the 2022 crypto credit crisis.

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The journey from open banking to embedded finance to contextual banking and the future role of banks

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If you look at today’s bank customers, they are always digitally active in their respective living environments. McMakler provides an example of positioning in customers’ living environments. If people search for design ideas for self-built furniture on Pinterest, for example, McMakler displays real estate offers that match their known living preferences. This happens in the context of a cooperation between McMakler and over 400 banks. Under certain conditions, banks can therefore offer their services in the respective living environments of their customers. However, this option is only one alternative as to how banks or individual banking divisions can position themselves strategically. In Stefan Knaus’ blog post from October 24, 2023, we presented four different strategic role profiles in the context of open banking. Now we would like to take a look at current market developments and which use cases have driven banks forward. We will also classify the terms “embedded finance” and “contextual banking”, which are frequently used in this context.

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Large Language Models: Origin-Use-Further Development

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Large language models (LLMs) have made a quantum leap in the field of natural language processing (NLP) over the last five years, both in terms of understanding (natural language understanding, NLU) and generation (natural language generation, NLG) in the development of communication with computers. With ChatGPT, the general public has also become aware of this. The possible uses in companies are beginning to become more and more relevant. A small series of articles will describe the emergence, integration possibilities in processes and effects of LLMs. In this article, the history of the development of LLMs up to their current status will be outlined, with the aim of presenting strengths, weaknesses and manifestations in the next article on this basis.

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Overview: Data value creation in companies

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For a long time, everyone was talking about data. “The world’s most valuable resource is no longer oil, but data” (The Economist, 2017) was the ubiquitous mantra. However, advances in the field of artificial intelligence (AI) are currently dominating the media, driven in particular by generative AI such as ChatGPT, DALL-E and the like, which can create new content such as text, images or speech. These generated data instances are in turn created with the help of technology on the basis of enormous data sets (Touati, 2024). Accordingly, it is becoming increasingly relevant for companies today and in the future to deal with the topic of “data” as the basis for value-adding activities. The Competence Center (CC) Ecosystems of the Business Engineering Institute St.Gallen develops solutions for relevant practical problems and addresses, among other things, the use of data as a key role for business success in dynamic environments. This blog post provides an introduction to the research in the field of data value creation for companies at the CC ecosystems.

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Service Design in Business Ecosystems: How you can use the service blueprint in the context of business ecosystems and the relation to my research.

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As part of his research at the Competence Center Ecosystems, Dennis Vetterling is developing artefacts for the conceptualization of value capture for organizations in business ecosystems. The objective is to provide managers with the basis for in-formed decisions in the context of value capture in business ecosystems. In this blog post, he introduces the service blueprint as a modeling framework for handling the topic of business ecosystems in his research and provides further thought fragments for their analysis.

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The art of cooperation

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More and more companies are entering into partnerships to achieve benefits such as cost reduction, standardization, flexibility and increased quality. Such relationships are essential in order to remain competitive in a complex world. Nevertheless, numerous examples show that failures with far-reaching consequences can also occur. This blog post shows the factors that make partnerships successful and the norms that need to be met.

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Study: Digitalization in Procurement Management

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The digital revolution has reached the business world, and procurement management is no exception. The latest study by the Business Engineering Institute St. Gallen, “Digitalization in Procurement Management”, sheds light on how profoundly digitalization is changing this area. This blog post summarizes the key findings of the study to shed light on the opportunities and challenges that digital transformation brings for companies.

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Positioning opportunities for banks in the context of digital assets    – A market observation

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At the beginning of January 2024, the Security and Exchange Commission (SEC) in New York approved the first Bitcoin spot ETFs for trading and distribution in the USA. The approval of ETFs in the US further contributes to the availability of digital assets on the broader investor market. Financial institutions can therefore increasingly assume that the demand for digital assets will change. How have banks in Switzerland positioned themselves in the context of digital assets and what are the advantages and disadvantages of each positioning? Based on observations and interactions in the Swiss market, these are categorized in this blog post.

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Are our jobs at risk?

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The first part of this blog series described different ways in which AI can affect individual professions. To analyze the impact of AI on the Swiss economic sector, a comprehensive qualitative and quantitative study on the exposure of individual professions to AI was conducted using a task-based view. The second part of this article series summarizes the results of this study and presents implications for policy and management.

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Are Our Jobs at Risk?

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As a result of recent developments in the field of AI, the impact of automation on the labor market has begun to be reassessed. Non-routine cognitive or manual jobs, long considered unaffected by previous technologies, are increasingly under threat from self-learning algorithms, leading many economists to argue that this time the impact on the labor market is fundamentally different from other technologies. This blog post describes different ways in which AI can influence the tasks of a profession.

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Research Area Business Ecosystems

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As part of his research in the field of business ecosystems, Dennis Vetterling repeat-edly comes into contact with organizations that use the concept of ecosystems for their own purposes. In his work, two perspectives on ecosystems have emerged: a “company-centric” and a “customer-centric” perspective. In this article, Dennis Vetter-ling gives an insight into these two perspectives and an indication of how organiza-tions can use a combination of both in the context of a strategic analysis.

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The Capability Compass

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Digital transformation presents organizations with the challenge of developing an adaptive culture and harmonizing traditional business practices with digital offerings, whereby a comprehensive willingness to change and learn as well as a holistic approach to corporate management are crucial for an efficient transformation.
The following blog post presents a possible approach to analyzing a holistic transformation. The Capability Compass.

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Recommended role profiles in the context of open banking for Swiss banking groups

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The third and final part of this series of blog posts examines the suitability of strategic role profiles in the context of open banking (individualist, producer, distributor, and platform) for Swiss banking groups. The article illuminates that the size, business environment and geographical focus of the individual financial institutions have a significant influence on the choice of a suitable open banking strategy. It also presents business models of the future and analyses how big banks, cantonal and regional banks and private banks could position themselves with their service offering in the future.

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