Category: Nicht kategorisiert

Fan Tokens on the Blockchain: A Research Insight

Posted on By

Fan tokens have established themselves as an innovative digital asset class that forms an interface between cryptocurrencies, blockchain technology and the sports sector. They enable a new form of fan participation and offer exclusive benefits such as co-determination rights in club decisions and access to special rewards and games. These blockchain-based assets, which have already been issued by 81 sports organizations – including prestigious clubs such as FC Barcelona and Manchester City – have found their way into various sports such as combat sports, motorsports, tennis and rugby and offer far more than just speculative value . This blog post describes the concept of fan tokens and how they impact fan engagement.

Continue reading »
All, Nicht kategorisiert, technologies

Properties of LLMs, weak points and improvement measures for the domain adaptation of applications

Posted on By

The transfer of the AI paradigm “Foundation Models” in the language domain leads to Large Language Models (LLMs), which can be used to communicate in natural language and can be used in a variety of ways for different tasks due to their “broad training”. However, this requires adaptations of the models for the specific application domains. In this second part of his blog series, Wilhelm Niehoff presents the three method areas of In Context Learning (ICL), prompt engineering and fine-tuning that are used for this purpose. By addressing and using the LLMs, however, design-related weaknesses such as hallucinations, lack of topicality and expertise in detailed topics occur. In addition to the three method areas, there are “up-to-date” approaches such as DSPy and TextGrad, which aim to relieve the user of the task of constructing prompts. Accordingly, the weaknesses are eliminated by adding further components that are coordinated by LLMs.

Continue reading »
All, Data, Digitization, Nicht kategorisiert

Future Business Models for Wealth Management in Germany and Switzerland

Posted on By

In recent months, the BEI has analyzed the future business models of asset management companies in Germany and Switzerland and has published a study. In the process, interviews were conducted with asset managers and, as a result, recommendations for action and business models of the future were defined. The aim of this study was to understand and explain the current state of the art and potential developments.

Continue reading »
All, Data, Nicht kategorisiert

Workshop series “digital customer proximity”

Posted on By

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.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Data strategy in connected business models

Posted on By

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.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert

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

Posted on By

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.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

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

Posted on By

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.

Continue reading »
0
All, Data, Digitization, News, Nicht kategorisiert

Large Language Models: Origin-Use-Further Development

Posted on By

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.

Continue reading »
0
All, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

The art of cooperation

Posted on By

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.

Continue reading »
0
All, Ecosystems, News, Nicht kategorisiert, Regulations

Study: Digitalization in Procurement Management

Posted on By

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.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert

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

Posted on By

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.

Continue reading »
0
All, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Are our jobs at risk?

Posted on By

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.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

The Capability Compass

Posted on By

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.

Continue reading »
0
All, Ecosystems, News, Nicht kategorisiert, technologies

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

Posted on By

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.

Continue reading »
0
All, Digitization, Ecosystems, News, Nicht kategorisiert

Blog post Governance mechanisms in the context of platforms and business ecosystems

Posted on By

Less than 15% of business ecosystems are successful in the long term – the main reason for failure is weaknesses in the governance model. It is therefore time to question which governance mechanisms are fundamentally available for business ecosystems and whether there are any application examples (successful or failed). The following blog post looks at a possible catalog of incentive and control mechanisms for business ecosystems.

Continue reading »
0
All, Ecosystems, News, Nicht kategorisiert

Strategic Role Profiles in the Context of Open Banking for Swiss Banks

Posted on By

In the context of Open Banking, four different role profiles can be distinguished that banks can assume: Individualist, Producer, Distributor and Platform. The role profiles are differentiated with regard to the distribution and creation of services and allow banks to put together a tailored, new business model in the individual banking areas. In the second part of this three-part blog post series, the individual role profiles will be described in detail and their impact on a bank’s business model will be illustrated.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Implications of Open Banking for the Business Model of Banks 

Posted on By

In order to implement Open Banking, the European Union has been pursuing a regulatory-driven approach with PSD2 since 2018. In contrast, Switzerland is currently one of the few countries like the United States, Argentina, South Africa, and China to pursue a market-driven approach. However, last December, the Swiss Federal Council addressed Swiss financial institutions with a clear message and wants to accelerate developments around Open Banking. The first part of this three-part blog post series presents the impact of Open Banking on the business model of Swiss universal banks.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

This was the Open Banking Summit 2023

Posted on By

After the successful Summit 2022, the doors opened again on August 24th at Google in Zurich for this year’s Open Banking Summit 2023. With over 100 participants and top-class speakers, the OpenBankingProject once again proved to be one of the enterprise networks in the context of Open Banking. This blog post summarizes the content of the Open Banking Summit 2023.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Research Area Distributed Ledger Technology

Posted on By

The Competence Center Ecosystems of the Business Engineering Institute St. Gallen develops solutions for relevant problems from practice. In the context of this blog post, the overall research goal of the re-search area Distributed Ledger Technology (DLT) is presented. This research goal is to develop a frame-work that demonstrates and supports the methodological approach of DLT implementations to enable companies to adequately address relevant requirements of the implementation process of a DLT.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Research Area Business Ecosystems: Presentation of the current research project: Conceptualizing the accumulation of value (value capture) through a framework

Posted on By

Within the Competence Center Ecosystems of the Business Engineering Institute St. Gallen we develop solutions for relevant problems from practice. For this purpose, we use scientific methods within the framework of a consortium research project. This paper gives an insight into the current research project in the research area Busi-ness Ecosystems. Here, a framework for conceptualizing the accumulation of value (value capture) is developed.

Continue reading »
0
All, Digitization, Ecosystems, News, Nicht kategorisiert

The potential and development of data spaces

Posted on By

Today, companies and individuals alike generate, process and use an immense amount of data, which, according to estimates, will continue to grow worldwide from 64.2 zettabytes in 2020 to an estimated 180 zettabytes in 2025. However, then as now, the global data economy is dominated by individual companies, the so-called BigTechs such as Alphabet, Meta, Amazon and Microsoft. One way to realize data exchange and use apart from the monopolistic BigTechs is based on the concept of trusted data spaces. But what exactly are data spaces and how do they work? This blog post addresses this question and shows a possible target picture for data spaces in Switzerland from the Business Engineering Institute St. Gallen.

Continue reading »
0
All, Data, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Trends, trends, trends – nothing is as constant as change

Posted on By

The world is shaped by various trends, first and foremost megatrends. Megatrends describe complex dynamics of change that shape society for more than ten years. They can be used to make the complexity of change more understandable. Megatrends affect all levels of society and thus influence companies, institutions and individuals. It is essential for companies to analyze the opportunities & risks associated with the trends at an early stage. This blog post presents the selected megatrends of health and sustainability as well as the associated macro and micro trends.

Continue reading »
0
All, Digitization, Ecosystems, News, Nicht kategorisiert, technologies

Tokenization – Potentials, Challenges and Use Cases in the Environment of the Financial Industry – Part 2

Posted on By

Tokens describe digital representations of rights and obligations associated with valuable assets. For financial institutions, tokenization of value offers promising use cases starting with direct investment in SMEs, access to emotional assets, and expanding their own service delivery to customers. These use cases demonstrate that the use of blockchain technology to map tokenized value can open up new investment opportunities for customers, increase customer loyalty, or jointly exploit additional opportunities.

Continue reading »
0
All, Data, Digitization, Ecosystems, Nicht kategorisiert, technologies
1 2