So today, the world’s largest transportation company owns zero fleet, the largest hotelier lists more than a million rooms but owns none of them, and the largest movie service doesn’t have a theater to its name. And Alibaba – which was only a local e-commerce provider just a couple of years ago – is not merely repeatedly breaking global sales records, but obliterating them.
What these providers have in common is a winning business model that leverages the collective power of a network or ecosystem to deliver incredible experiences at competitive prices to customers, at scale.
How can banks not be a part of that? Straightaway, we can think of a couple of areas of digital technology-driven opportunity for banks and their customers. These are SMB (Small and Medium Businesses) commerce and marketplace lending. At Confluence 2016, we will explore how banks can be enabled to capitalize on these opportunities.
We will showcase some of these scenarios and also invite clients to share their usage experience at Confluence. We hope you will be there to see it for yourselves.