Author: Jan Reinmueller

Driven by technological innovations and increased online connectivity, the world is going through a major economic revolution with the rise of the platform economy. The platform economy refers to the current transition most companies are making from being product-centric to becoming customer-centric enabled by a platform strategy. Such companies are following on the steps of successful businesses such as Google, Amazon and Alibaba, which have all used the platform business model to grow exponentially. The platform business model Platform businesses are typically online matchmakers or technology frameworks, and focus on helping to facilitate interactions across a large number of participants.…

In a world where change is the only constant, innovation is a tool that is essential to any organisation that doesn’t want to be made obsolete in the next few years. While the need for innovation is not unique to the banking sector, the need for banks to be innovative is more important now than ever as they are facing unprecedented levels of disruption. With bigtech and heavily funded digital banks all eyeing a piece of their pie, its worthwhile to consider why despite investing large amounts of money their innovation initiatives still fall flat. This is often because many…

Innovate or die. This is a common rallying cry in this era of Silicon Valley and agile tech startups, and the banking industry is not excluded from this narrative. Fintechs grow ever popular, with their on-demand services, particularly to those traditionally underserved by established banks. The growing number and breadth of challenger banks, often with round-the-clock banking capabilities, offers an ever-enticing counterpoint to physical banks too. The pressure is on. However, Innovation Isn’t as Easy as Flipping a Switch Fintechs have the advantage of envisioning their offerings digital-first from the ground up. Over the many, many years of its existence,…