Branch closures, new organisational structures, digitisation – the COVID-19 pandemic is forcing banks and savings banks to revise their business models faster than ever. The growing success of fintechs such as payment services providers Klarna or PayPal is an added incentive. Banks are aiming to develop a platform economy that prioritises relationships. This digital ecosystem – a form of value creation network – would support interconnected banks, along with retailers, hospitals and medical centres, by enabling them to share (customer) data and work closely with one another. High-profile ecosystem builders and operators include Amazon, Apple and Tencent. Now German banks hope to follow their lead. A recent study by auditing firm PwC shows that in five years’ time, almost 60 percent of them aim to generate more than ten percent of their sales through digital ecosystems, and around 95 percent aim to run or participate in their own digital ecosystems.
These are just some of the questions to be discussed by Professor Dr Jürgen Moormann, Professor of Banking and Process Management at Frankfurt School, at our next Reporters’ roundtable on 22 July. We cordially invite all interested members of the press to attend, and will send you an access link when you register for the event.
Digital ecosystems in a platform economy: What role will banks play?
Reporters’ roundtable at Frankfurt School with Professor Jürgen Moormann
Thursday 22 July 2021 at 11:30
Please register for the roundtable by contacting Helia Erbsland (email@example.com; 069 154 008-161).
Professor Moormann is also available for interviews or discussions of the underlying issues, during which he will review the significance of digital ecosystems for the finance industry in either German or English. If you are interested, please contact Carolin Schwalme – who will be happy to make the necessary arrangements – by e-mailing her at firstname.lastname@example.org or by calling her on +49 (0)69 154 008-818 or +49 (0) 159 04579780 (mobile).