This shift in the perception of value is profound because it completely disrupts the artificial scarcity mechanism that has driven more than 200 years of global trade as we know it. The converged technologies that provide access to these experiences also make them tangible to others, creating audiences that can be marketed to. Social media platforms such as Facebook and Twitter currently operate on this is the basic value model.
Which bank will be the first to enable customers to control their pronoun used?
Financial services companies over the past decade have done very well in building strong operational efficiency models and building capabilities to do ‘more with less’. What they are lagging in is the ability to grow top line and come up with new services /products to meet the changing customer needs in their domain or other domains.