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Open Innovation Ecosystems

Creating New Value Constellations in the Financial Services

  • Daniel¬†Fasnacht

Part of the Management for Professionals book series (MANAGPROF)

Table of contents

  1. Front Matter
    Pages i-xxxviii
  2. Daniel Fasnacht
    Pages 1-23
  3. Daniel Fasnacht
    Pages 25-68
  4. Daniel Fasnacht
    Pages 69-95
  5. Daniel Fasnacht
    Pages 97-130
  6. Daniel Fasnacht
    Pages 131-172
  7. Daniel Fasnacht
    Pages 173-204
  8. Daniel Fasnacht
    Pages 205-229
  9. Daniel Fasnacht
    Pages 231-243
  10. Daniel Fasnacht
    Pages 245-258
  11. Back Matter
    Pages 259-283

About this book

Introduction

Sharing information and knowledge, co-innovating with clients, communities, and competitors and adopting cognitive technology, robo advisors, crowdfunding, and blockchain reflect current socio-economic behaviour. Emerging growth regions in Asia, demographic shifts, intergenerational wealth transfers and increasing regulations are other trends that amplify each other, disrupt the client journey, and affect the entire economy.

Moreover, unprecedentedly, new market entrants outside the financial sector, be it Amazon, Apple, Google, or Facebook, are increasingly expanding their scale and scope to offer financial services. Featuring case studies of Chinese business ecosystems, such as Alibaba/Ant Financial, that have transformed from displaying domestic and organic growth to rapid global expansion, this highly readable book gives you glimpses of how banking services are evolving. We break down everything you need to know about the foray of challenger banks into the financial services. You learn how they link health to wealth data and gain advantages through analytical capabilities in the race to attract sophisticated clients with highly personalized experiences. 

The next level of creating and capturing value for clients and businesses involves platform models embedded in cross-sector ecosystems. Digital platforms are the crucial entry point to global markets, creating value for multiple sides. They leverage self-driving ecosystems that go beyond linear value chains applied in traditional business models as the sources of growth in an interconnected world are collaboration and network effects. 

The winners will be those who open up and engage themselves in an ecosystem that transcends organizational boundaries and performs without sector borders because every actor contributes to the value constellation of the system. 

The book provides practitioners and scholars with new insights into open and holistic business models, where competition in future will be between ecosystems rather than at the company level. It encourages leaders to expand their skills and think through the lens of the ecosystem theory while developing compelling strategies to serve the next-generation clients.

Keywords

Banking Change Financial Services Growth Strategy Knowledge Management Open Innovation FinTech Client Integration Open Banking

Authors and affiliations

  • Daniel¬†Fasnacht
    • 1
  1. 1.ZurichSwitzerland

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-76394-1
  • Copyright Information Springer International Publishing AG, part of Springer Nature 2018
  • Publisher Name Springer, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-76393-4
  • Online ISBN 978-3-319-76394-1
  • Series Print ISSN 2192-8096
  • Series Online ISSN 2192-810X
  • Buy this book on publisher's site
Industry Sectors
Biotechnology
Finance, Business & Banking