/covid-19

Discussion
Re-thinking the value of digital infrastructure
Johan De Wit

Johan De Wit

  Great insights, thanks for sharing this with us. As Anders la Cour mentions, COVID-19 is accelerating the move towards digitization and partnerships between solution providers. What I see is that traditional banks, which have a range of services and a large and fairly loyal customer base, are seeking to work together with FinTechs, who go narrow and deep, and put digital customer experience front and center. What retail banks are doing, is setting up ecosystems of services to deliver a complete solution in the defining moments of people’s lives: when they are buying a house, getting married,… By offering services that are adjacent to the core business of the bank, they can act as a one-stop-shop. This has indeed been going on for some time already, even before the push for digitization. What’s new, is that banks are now using their mobile apps as a marketing tool. By integrating third-party solutions that have nothing to do with banking, they are pulling in new customers by offering them easy purchase of concert tickets, public transport vouchers or even video highlights of sports events. That’s what open banking has made possible these last few years. Anders is quite right in saying that banks have a technology legacy. However, this need not  stand in the way of integration with third-party solution providers. These can be bundled through the use of APIs, hiding the back-office complexity for the consumer. Evolutions like digitization or the arrival of new players in the market, such as FinTech companies, don’t mean traditional banks will disappear. Rather, it’s a wake-up call that is driving banks to focus more on the customer, and less on internal systems and their own product portfolio.
How Blockchain can create New Business Model Innovation for Food Delivery Apps like Uber Eats
Saranya V

Saranya V

  Blockchain will indeed disrupt the existing business model in a very positive way. It is evident that it will bring more transparency to the way a food business is run and help in enhancing the overall output of an enterprise. The increase of virtual kitchens is also a keen step taken towards securing the safety net around customers in the wake of the pandemic.
Why Accounting Teams Should Strive for Continuous Close
João Bohner

João Bohner

  Dear Thomas,   In the Holistic Corporate Architecture "The Bank of the Future" all accounting and financial updates are made 'on the fly' on any financial activity - the continuous close - as you call it. Then you have the ledgers as well as the financial data updated online, real time and with a 100% guarantee on accuracy. This feat was achieved thanks to a deep reshape in the Architecture of Business as Usual, embedding accounting in financial activities and creating the 'shift to business now'. Obviously the functions of CFOs as well as the functions of accounting teams will be profoundly modified.   joao.bohner@gmail.com  
Making Free Trials Work for Customer and Merchant
Ketharaman Swaminathan

Ketharaman Swaminathan

  Nice high level, theoretical article. Hope you'll follow it up with an in depth coverage of what happens when unwitting subscribers actually follow your advice to contact Merchants. Should you need some pointers, here's a partial list: Blocked out of Merchant website; Struggle to locate the "cancel subscription" button on the website; Find no cancel button on the website and be told to call a Timbuktu telephone # to cancel; etc.  
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