Many markets currently see a movement towards digital services offered by start-ups companies. While this is not a new shift e.g. eBay for second hand /used articles, it now also arrives at less elastic markets like the Financial Services. Since this also means a shift of revenue streams, the current market incumbents (like Deutsche Bank) try to react by introducing Digital Labs within their companies to offer the same kind of service to their customer base.
However, there are a few Pre-requisites for offering good & competitive digital services:
- Agile culture & development methods
- Networking capabilities within the markets and required suppliers (digital supply chain)
- Data-driven decisions
The above pre-requisites are probably best supported by a Cloud solution rather then a on-Premise Solution. For Cloud Applications the customer does not need to take care of all the layers below, since HW, OS, Virtualization etc. are provided as a service. Also the deployment off a new Application version is much faster. Given that most data is now generated by devices or interactions of the User many surrounding entities such as Twitter or Facebook are available from the Cloud via a interface, Channel or Cloud Adapter. This data can also be analysed directly within the Cloud making data-driven decision much easier.
Companies who are reacting quickly to this change and execute this change along their customers might be able to become the new platform in a more and more automated exchange of data between different participating parties.