Selecting the Right Partners and Managing Relationships

Abstract

A key feature of eMarketplaces is that they can be relatively easily disaggregated into their component parts, enabling financial institutions to specialize on one component. Insurance companies are effectively product specialists, relying on a network of brokers and agents to distribute their product. Credit card companies are good examples of an infrastructure specialist Financial services organizations need to take clear and deliberate steps in evaluating how they add value to each component in the exchange of value between parties and develop business systems that anticipate the evolution of the value exchange. Leading the technology wave of new business challenges is the evolution of payment systems consisting of three essential factors that financial services organizations need to keep in the forefront of their strategic planning: technology, social adoption and international regulation. Is it possible to pick the one technology that will embrace the new generation of value exchange customers? More importantly: Is technology the answer or simply a question?