HUBTALK #3 – Joint innovation and new business models
In the digital era, all companies have to reinvent the way they develop, promote and sell products or services. They might even come up with completely new business models that are creating additional value, and therefore new revenue streams. Finding the right partner and engaging in new business models has become a key challenge for legacy players – read here “banks, insurance companies, financial institutions, etc.” – but also for fast growing and innovative niche players…
In this third article of the HUBTALK series, Pierre-Olivier Bernes, IT Project Manager and Marketplace finance expert, focuses on the need for all financial players to explore new opportunities, through collaboration and resulting in the creation of additional services and business models. He explains how all players can easily leverage marketplaces to reinvent themselves and boost their business.
Yay to collaboration!
“More than ever, banks and insurance companies, described as legacy and traditional players, are getting together with dynamic startups that engage in a very ‘nichy’ way, generally to provide new experiences to customers,” explains Pierre-Oliver Bernes.
He continues: “And they do it for several – good – reasons: to retain their customers and answer to their changing needs, to attract new consumers as they bring more value compared to their competitors, but also to diversify and create new revenue streams”.
Collaboration definitely rhymes with new business models