Banks and Fintech on Platform Economies - Paolo Sironi

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Résumé :

Forewords xv

About the Author xxix

Disclaimer xxxi

Introduction 1

Part One Foundations of Platform Theory

Chapter 1 Platform Essentials on Outcome Economies 15

1.1 Introduction 16

1.2 Platforms and ecosystems 17

1.3 Innovating from output to outcome economies 22

1.4 Linear and non-linear thinking 24

1.5 Platform types 25

1.6 About platforms and innovation theory 27

1.7 Shifting the perception of value 29

1.8 Banks and fintech on outcome economies 31

1.9 Conclusions 33

Takeaways for banks and fintech 34

Chapter 2 The Trust Advantage 35

2.1 Introduction 35

2.2 Elements of platform creation 37

2.2.1 The platform challenge 38

2.2.2 The chicken-or-egg dilemma 39

2.3 Transparency generates trust 42

2.3.1 It's marketing, stupid! or not? 42

2.3.2 Trust in the middle kingdom 43

2.4 The trust advantage for banks and fintech 44

2.5 Conclusions 47

Takeaways for banks and fintech 48

Chapter 3 Open Innovation and Data 49

3.1 Introduction 49

3.2 Closed and open innovation 51

3.2.1 Attributes of closed and open innovation 52

3.2.2 Open innovation in platform economies 53

3.3 The strategic role of complementors 55

3.4 The monetisation perspective 56

3.5 The monetisation of APIs 58

3.5.1 Free use 59

3.5.2 API consumers pay 59

3.5.3 API consumers get paid 60

3.5.4 Indirect monetisation 60

3.6 The monetisation of user engagement 61

3.6.1 Imposing transaction fees 61

3.6.2 Asking for access fees 61

3.6.3 Tiering enhanced access fees 61

3.6.4 Delivering enhanced curation 62

3.7 The API economy for banks and fintech 62

3.8 Conclusions 65

Takeaways for banks and fintech 66

Chapter 4 Platform Governance Founded on Transparency 67

4.1 Introduction 67

4.2 Power comes with responsibility 68

4.3 Platform monopoly between competition and regulation 71

4.3.1 Intensified regulation 71

4.3.2 Better governance to fight monopoly powers 73

4.4 Negative externalities threaten platform resilience 74

4.5 Governance of openness and curation 76

4.6 The transparency governing principle 78

4.6.1 Transparency about platform management 78

4.6.2 Transparency about platform orchestration 79

4.7 Transparency for banks and fintech 80

4.8 Conclusions 82

Takeaways for banks and fintech 83

Part Two Reinventing Financial Services

Chapter 5 The Existential Shift of Bank Business Models 89

5.1 Introduction 89

5.2 The new normal of central banks 91

5.2.1 Lehman Brothers' default 91

5.2.2 The annihilation of central banks' systemic put 92

5.2.3 Banks' Catch-22 95

5.2.4 From product-centricity to human-centricity 98

5.3 About the tension between information and communication 99

5.4 The banking reinvention quadrant 101

5.4.1 The map and the compass 101

5.4.2 The information and communication quotients 103

5.5 Four BRQ business value spaces 104

5.5.1 Traditional Banking 105

5.5.2 Digital Banking 105

5.5.3 Contextual Banking 105

5.5.4 Conscious Banking 106

5.6 Conclusions 107

Takeaways for banks and fintech 108

Chapter 6 Lessons Learned from Fintech Innovation 109

6.1 Introduction 110

6.2 The true meaning of disruption 111

6.2.1 My Robo-advisor was an iPod 113

6.2.2 Sustaining innovation with Contextual and Conscious Banking 117

6.3 Resolving the pu...

Biographie:
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Sommaire:

PAOLO SIRONI is the global research leader in banking and financial markets at IBM, Institute for Business Value. He is one of the most respected fintech voices worldwide, providing business expertise and strategic thinking to a network of executives among financial institutions, start-ups and regulators. He is a former quantitative risk manager and start-up entrepreneur. Paolo's literature explores the biological underpinnings of financial markets, and how technology and business innovation can bolster the global economy's immune system in today's volatile times. Visit Paolo's website thePSironi.com for more information.