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Implications of Open Banking for the Business Model of Banks 

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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.

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

This was the Open Banking Summit 2023

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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.

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Research Area Distributed Ledger Technology

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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.

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

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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.

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The potential and development of data spaces

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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.

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

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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.

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

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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.

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Leadership in Swiss Banks

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How are leadership styles developing in Swiss banks – basically, Lewin’s traditional leadership styles such as authoritarian/patriarchal, cooperative, etc. are well known. Nowadays, a distinction can also be made between transactional and transformational leadership. This article explains how these leadership styles differ from each other and why the leadership styles in banks are changing towards agile organizational forms.

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Microsoft Copilot – A First Look at the Workday of the Future?

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Microsoft 365 has around 350 million paying users worldwide who use the Office Suite every day to create presentations, analyze data or collaborate in teams. Most of this daily work is done manually, as automation is not possible for all users due to a lack of knowledge. But it is exactly this challenge that Microsoft wants to solve with the introduction of Microsoft 365 Copilot. In this blog post, the function as well as the application possibilities of the Copilot are presented and fundamental implications of the collaboration between humans and arti-ficial intelligence in the everyday work of the future are shown.

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Digitization, News, Nicht kategorisiert, technologies

Asymmetric cryptography and digital signatures – Part 2

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The first part of this blog series introduced the concept of symmetric cryptography, which can en-sure the confidentiality of data to be exchanged. Symmetric cryptography is based on the funda-mental assumption that the key used, which is to be kept secret, must be transmitted between the communication partners via a secure channel, since otherwise third parties with knowledge of the key can access the ciphertext. Accordingly, with the help of symmetric cryptography, the problem of secret message transmission is reduced to secret key transmission only. To get around this prob-lem, this second part of the blog series presents an introduction to the concept of asymmetric cryp-tography.

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

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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

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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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Digitization, Ecosystems, Nicht kategorisiert

Applying Reference Models – From Bank Model to Core Banking Radar

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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

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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

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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

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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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