Networked business design in the context of innovative technoligies: Digital transformation in financial business ecosystems
Journal
Capco Journal of Financial Transformation
Type
journal article
Date Issued
2023-12-04
Author(s)
Abstract
Business today is not conducted by single organizations alone but in networked designs with diverse actors. A construct
where actors engage in joint value creation is called a business ecosystem. Speci cally, within the context of core services
originating from the nancial services industry, such constructs are called nancial business ecosystems. Innovative
technologies and intelligent methods enable value creation in these organizational setups. To effectively participate in
these ecosystems and exploit the potential of innovative technologies and intelligent methods, organizations need to
develop a novel operating model. We propose a blueprint for such an operating model building on two levels of capabilities:
rst level capabilities that enable the exploitation of data and the number of partner relations as underlying resources of
business ecosystems. The proposed second level capabilities enable the organization to engage in business ecosystems.
By suggesting these capabilities, we aim to guide organizations on a targeted transformation journey and enable them to
leverage innovative technology for actively engaging in nancial business ecosystems
where actors engage in joint value creation is called a business ecosystem. Speci cally, within the context of core services
originating from the nancial services industry, such constructs are called nancial business ecosystems. Innovative
technologies and intelligent methods enable value creation in these organizational setups. To effectively participate in
these ecosystems and exploit the potential of innovative technologies and intelligent methods, organizations need to
develop a novel operating model. We propose a blueprint for such an operating model building on two levels of capabilities:
rst level capabilities that enable the exploitation of data and the number of partner relations as underlying resources of
business ecosystems. The proposed second level capabilities enable the organization to engage in business ecosystems.
By suggesting these capabilities, we aim to guide organizations on a targeted transformation journey and enable them to
leverage innovative technology for actively engaging in nancial business ecosystems
Language
English (United States)
Number
58
Start page
72
End page
81
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Journal 58_Web_Vetterling Baumol.pdf
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