Trend Impact Radar 2023: New Trends for the Financial Industry – Part 2

The Competence Center Ecosystems regularly identifies and analyzes the most important trends impacting financial institutions and financial-related service providers. In doing so, we address the development of megatrends, macrotrends and microtrends as well as their impact on the financial industry. As a follow-up to our last blog, which focused on the megatrends and macrotrends we identified as newly relevant to the financial industry in our last internal update, today I would like to present a selection of related microtrends that relate to the topics of data, customer, employees and corporate responsibility.

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Trend Impact Radar 2023: New Trends for the Financial Industry

The Competence Center Ecosystems regularly identifies and analyzes the most important trends impacting financial institutions and financial-related service providers. In doing so, we address both the development of megatrends, macrotrends and microtrends as well as their impact on the financial industry. Today, I would like to share the four mega and macro trends that we have newly identified as relevant to the financial industry in our latest internal update: Web 3.0, AR & VR / Metaverse, Generation without Borders / Permanent Beta and Standards in Telecommunications.

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Applying Reference Models – From Bank Model to Core Banking Radar

Reference models are, as the name suggests, models that can be used as a reference when creating a company-specific model. In order to show how the use of a reference model can look like, this article describes how the so-called functional model specific to the Core Banking Radar was derived from the bank model, which queries the coverage of functionalities in core banking systems.

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Exemplary Measures & Key Takeaways for Banks in the Context of Launching a Digital Assets Offering

The first part of this two-part blog post outlined challenges for a bank launching a digital asset offering. As a starting point, a financial institution was outlined which, in a first step, would like to enable wealthy private clients to trade selected digital assets (e.g. Bitcoin and Ethereum) in cooperation with an external partner. In the second part, selected measures are presented, success factors are described and key takeaways for the launch of such an offering are highlighted. The contents are based on experiences from projects and discussions with experts.

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Selected Challenges & Success Factors for Banks in the Context of Launching a Digital Assets Offering

Various banks have opened up more to the topic of digital assets in recent months and are actively driving forward concept and implementation projects for a digital asset offering or are already offering one. For a successful launch, various fields of action need to be addressed. The basis for the conception, operational implementation and launch of a digital asset offering is to ensure the relevant expertise in the appropriate depth and breadth both in the project team and in the specialist departments involved during the conception and implementation phase, the leap from a project-oriented way of working (Change the Bank, CtB) to operation (Run the Bank, RtB), and anchoring in the corporate culture.
This blog post will outline selected challenges in these three areas of action, present exemplary measures, describe success factors, and highlight key takeaways.

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A General View on the Developments Concerning FTX

Cryptocurrencies are once again on everyone’s lips after one of the largest trading platforms for cryptocurrencies, FTX.com, with a market valuation of $32 billion, filed for bankruptcy on November 11, 2022. The cause was a liquidity shortage at the Bahamas-based crypto exchange founded by Sam Bankman-Fried as a result of a bank run. In this blog post, we have a deeper look at the developments leading up to the crypto exchange’s insolvency.

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