Fintech 金融科技商業模式創新 (Fintech Business Models Innovation)

Transcription

1 金融科技 FinTech: Financial Technology Tamkang University Fintech 金融科技商業模式創新 (Fintech Business Models Innovation) 1052FinTech05 MIS EMBA (M2263) (8595) Fri, 12,13,14 (19:20-22:10) (D409) Min-Yuh Day 戴敏育 Assistant Professor 專任助理教授 Dept. of Information Management, Tamkang University 淡江大學資訊管理學系 tku.edu.tw/myday/

2 課程大綱 (Syllabus) 週次 (Week) 日期 (Date) 內容 (Subject/Topics) /02/17 Fintech 金融科技課程介紹 (Course Orientation for Fintech: Financial Technology) /02/24 Fintech 金融科技的演進 : 貨幣與金融服務 (Evolution of Fintech: Money and Financial Services) /03/03 Fintech 金融科技 : 金融服務科技創新 (Fintech: Technology Innovation in Financial Services) /03/10 Fintech 金融科技與金融服務價值鏈 (Fintech and Financial Services Value Chain) /03/17 Fintech 金融科技商業模式創新 (Fintech Business Models Innovation) /03/24 Fintech 金融科技個案研究 I (Case Study on Fintech I) 2

3 課程大綱 (Syllabus) 週次 (Week) 日期 (Date) 內容 (Subject/Topics) /03/31 金融服務消費者心理與行為 (Consumer Psychology and Behavior on Financial Services) /04/07 教學行政觀摩日 (Off-campus study) /04/14 區塊鏈技術 (Blockchain Technology) [Invited Speaker: Dr. Raymund Lin, IBM ( 林俊叡博士,IBM)] /04/21 期中報告 (Midterm Project Report) /04/28 Python Pandas 財務大數據分析 (Finance Big Data Analytics with Pandas in Python) /05/05 人工智慧與深度學習金融科技 (Artificial Intelligence and Deep Learning for Fintech) 3

4 課程大綱 (Syllabus) 週次 (Week) 日期 (Date) 內容 (Subject/Topics) /05/12 Fintech 金融科技個案研究 II (Case Study on Fintech II) /05/19 金融科技財富管理 : 機器人理財顧問 (Robo-Advisors for Wealth Management in Fintech) /05/26 投資組合最佳化與程式交易 (Portfolio Optimization and Algorithmic Trading) /06/02 金融科技智慧問答系統 (Intelligent Question Answering System for Fintech) /06/09 期末報告 I (Final Project Presentation I) /06/16 期末報告 II (Final Project Presentation II) 4

5 Fintech Business Models Innovation 5

6 The Future of Financial Services Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 6

7 Business Model 7

8 Value 8

9 Business Model Key Activities Customer Relationships Key Partners 6 Value Proposition 3 Customer Segments Key Resources Channels 9 5 Cost Structure Revenue Streams Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

10 Business Model Key Partners How? 6 Key Activities Key Resources Cost Structure What? Value Proposition Why? 9 5 Customer Relationships 3 Channels Revenue Streams Customer Segments Who? Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

11 Source: 11

12 Source: 12

13 Business Models Innovation 13

14 Why Business Model Innovation Target Market Revenue Mechanism Value Proposition Value Network (Ecosystem) Value Chain Competitive Strategy Source: Chesbrough, Henry. "Business model innovation: it's not just about technology anymore." Strategy & leadership 35, no. 6 (2007):

15 Business Model Innovation Adding new activities Linking activities in novel ways Changing one or more parties that perform any of the activities Source: Amit, Raphael, and Christoph Zott. "Creating value through business model innovation." MIT Sloan Management Review 53, no. 3 (2012):

16 Business Model Innovation 1 2 What novel activities could help satisfy those needs 5 How will value be created for each stakeholder? What customer needs will the new business model address? 3 4 How could the activities be linked in novel ways? What should perform the activities? What novel governance arrangements can be found? 6 What revenues models can be adopted to complement the business model? Source: Amit, Raphael, and Christoph Zott. "Creating value through business model innovation." MIT Sloan Management Review 53, no. 3 (2012):

17 Effect of the Internet on the Marketplace Reduces information asymmetry Offers greater flexibility and efficiency because of: Reduced search costs and transaction costs Lower menu costs Greater price discrimination Dynamic pricing May reduce or increase switching costs May delay gratification: effects dependent on product Increased market segmentation Stronger network effects More disintermediation Source: Kenneth C. Laudon & Jane P. Laudon (2014), Management Information Systems: Managing the Digital Firm, Thirteenth Edition, Pearson. 17

18 The Benefits of Disintermediation to the Consumer Source: Kenneth C. Laudon & Jane P. Laudon (2014), Management Information Systems: Managing the Digital Firm, Thirteenth Edition, Pearson. 18

19 Digital goods Goods that can be delivered over a digital network For example: music tracks, video, software, newspapers, books Cost of producing first unit is almost entire cost of product Costs of delivery over the Internet very low Marketing costs remain the same; pricing highly variable Industries with digital goods are undergoing revolutionary changes (publishers, record labels, etc.) Source: Kenneth C. Laudon & Jane P. Laudon (2014), Management Information Systems: Managing the Digital Firm, Thirteenth Edition, Pearson. 19

20 Types of E-Commerce Three major types of e-commerce Business-to-Consumer (B2C) Example: BarnesandNoble.com Business-to-Business (B2B) Example: ChemConnect Consumer-to-Consumer (C2C) Example: ebay E-commerce can be categorized by platform Mobile Commerce (m-commerce) Source: Kenneth C. Laudon & Jane P. Laudon (2014), Management Information Systems: Managing the Digital Firm, Thirteenth Edition, Pearson. 20

21 1. E-tailer 2. Transaction broker 3. Market creator 4. Content provider 5. Community provider 6. Portal 7. Service provider E-commerce Business Models Source: Kenneth C. Laudon & Jane P. Laudon (2014), Management Information Systems: Managing the Digital Firm, Thirteenth Edition, Pearson. 21

22 1. Advertising 2. Sales 3. Subscription 4. Free/Freemium 5. Transaction Fee 6. Affiliate E-commerce Revenue Models Source: Kenneth C. Laudon & Jane P. Laudon (2014), Management Information Systems: Managing the Digital Firm, Thirteenth Edition, Pearson. 22

23 Business Models of the Future Source: 23

24 Understanding Business Model Business Model Revenue Model Business Strategy Business Strategy and Information System Alignment 24

25 Definition of Business Model A business model describes the rationale of how an organization creates, delivers, and captures value. Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

26 Definition of Business Strategy A business strategy is a long term plan of action designed to achieve a particular goal or set of goals or objectives. Source: (Ostenwalder, Pigneur and Tucci, 2005) 26

27 Business the activity of providing goods and services involving financial, commercial and industrial aspects. (WordNet 2.0) Source: (Ostenwalder, Pigneur and Tucci, 2005) 27

28 Model a simplified description and representation of a complex entity or process. (WordNet 2.0) Source: (Ostenwalder, Pigneur and Tucci, 2005) 28

29 Business Model A business model is a conceptual tool containing a set of objects, concepts and their relationships with the objective to express the business logic of a specific firm. Therefore we must consider which concepts and relationships allow a simplified description and representation of what value is provided to customers, how this is done and with which financial consequences. Source: (Ostenwalder, Pigneur and Tucci, 2005) 29

30 Occurrences of the Term "Business Model" in Scholarly Reviewed Journals Source: (Ostenwalder, Pigneur and Tucci, 2005) 30

31 Business Model Concept Hierarchy Source: (Ostenwalder, Pigneur and Tucci, 2005) 31

32 Evolution of the Business Model Concept Source: (Ostenwalder, Pigneur and Tucci, 2005) 32

33 Business Model vs. Business Process Model Business Model a view of the firm's logic for creating and commercializing value Business process model how a business case is implemented in processes Source: (Ostenwalder, Pigneur and Tucci, 2005) 33

34 Business Models Business Model vs. Strategy a system that shows how the pieces of a business fit together. an abstraction of a firm's strategy Strategy includes competition Source: (Ostenwalder, Pigneur and Tucci, 2005) 34

35 Implementing Business Models Source: (Ostenwalder, Pigneur and Tucci, 2005) 35

36 The Business Model's Place in the Firm Source: (Ostenwalder, Pigneur and Tucci, 2005) 36

37 Nine Business Model Building Blocks Source: (Ostenwalder, Pigneur and Tucci, 2005) 37

38 Domains Addressed in Business Models Source: (Ostenwalder, Pigneur and Tucci, 2005) 38

39 Domains Addressed in Business Models (cont.) Source: (Ostenwalder, Pigneur and Tucci, 2005) 39

40 Planning, Changing and Implementing Business Models Source: (Ostenwalder, Pigneur and Tucci, 2005) 40

41 Business Strategy and Information Systems Alignment Source: (Ostenwalder, Pigneur and Tucci, 2005) 41

42 Business and IT/IS Alignment Source: (Ostenwalder, Pigneur and Tucci, 2005) 42

43 Business Model Canvas Key Activities Customer Relationships Key Partners Value Preposition Customer Segments Key Resources Channels Cost Structure Revenue Streams Source:

44 Business Model Canvas Infrastructure Management Key Activities Product Customer Relationships Customer Interface Key Partners Value Preposition Customer Segments Key Resources Channels Financial Aspects Cost Structure Revenue Streams Source:

45 Business Model Canvas Explained Source: 45

46 The 9 Building Blocks of Business Model Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

47 The 9 Building Blocks of Business Model How? What? Who? 6 Why? Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

48 The 9 Building Blocks of Business Model Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

49 1. Customer Segments Defines the different groups of people or organizations an enterprise aims to reach and serve Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

50 2. Value Propositions Describes the bundle of products and services that create value for a specific Customer Segment Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

51 3. Channels Describes how a company communicates with and reaches its Customer Segments to deliver a Value Proposition Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

52 4. Customer Relationships Describes the types of relationships a company establishes with specific Customer Segments Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

53 5. Revenue Streams Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings) Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

54 6. Key Resources Describes the most important assets required to make a business model work Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

55 7. Key Activities Describes the most important things a company must do to make its business model work Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

56 8. Key Partnerships Describes the network of suppliers and partners that make the business model work Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

57 9. Cost Structure Describes all costs incurred to operate a business model Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

58 The 9 Building Blocks of 1. Customer Segments Business Model An organization serves one or several Customer Segments. 2. Value Propositions It seeks to solve customer problems and satisfy customer needs with value propositions. 3. Channels Value propositions are delivered to customers through communication, distribution, and sales Channels. 4. Customer Relationships Customer relationships are established and maintained with each Customer Segment. Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

59 The 9 Building Blocks of 5. Revenue Streams Business Model Revenue streams result from value propositions successfully offered to customers. 6. Key Resources Key resources are the assets required to offer and deliver the previously described elements 7. Key Activities by performing a number of Key Activities. 8. Key Partnerships Some activities are outsourced and some resources are acquired outside the enterprise. 9. Cost Structure The business model elements result in the cost structure. Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

60 Business Model Key Activities Customer Relationships Key Partners 6 Value Proposition 3 Customer Segments Key Resources Channels 9 5 Cost Structure Revenue Streams Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

61 Business Model Generation Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

62 Business Model Generation Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

63 Source: Alexander Osterwalder & Yves Pigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley,

64 Finance Business Model Source: 64

65 Foreign Exchange Business Model 65

66 Source: 66

67 Source: 67

68 Source: 68

69 Source: 69

70 Source: 70

71 Source: 71

72 Source: 72

73 Source: 73

74 74 Source: 74

75 How Airbnb Works? Insights into Business Model & Revenue Model Source: 75

76 Airbnb Business Model Canvas Source: 76

77 Source: 77

78 How Uber Works? Insights into Business Model & Revenue Model Source: 78

79 Uber Business Model Canvas Source: 79

80 Uber Business Model Canvas Source: 80

81 Uber 81

82 Come up with Killer Startup Ideas Source: 82

83 Structure of a Business Model Source: 83

84 Source: 84

85 New Business Model direction Strategy People skills/mind-set New Business Model Structure power Rewards motivation Process information Source: 85

86 Source: 86

87 Customer Value Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson,

88 Marketing Meeting needs profitably Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson,

89 Value the sum of the tangible and intangible benefits and costs Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson,

90 Value Total customer benefit Total customer cost Customer perceived value Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson,

91 Customer Perceived Value Product benefit Services benefit Personnel benefit Total customer benefit Image benefit Monetary cost Customer perceived value Time cost Energy cost Total customer cost Psychological cost Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson,

92 CEO CIO CFO CEO Strategy and Sales (Leading) CIO Enterprise Technology Integration CFO-COO Finance and Operations (Lagging) Source: 92

93 CEO CIO CMO CEO Strategy and Sales (Leading) CIO Enterprise Technology Integration CMO Marketing Communication Adapted from: 93

94 CEO CIO CMO Strategy Vision CEO Mission CIO CMO Tactics Goals Objectives Operations Tasks Adapted from: 94

95 The Future of Financial Services Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 95

96 Payments Cashless World Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 96

97 Payments Innovations Caseless World Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 97

98 Open-loop Mobile Payment Solutions Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 98

99 Closed-loop Mobile Payment Solutions Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 99

100 Mobile Merchant Payment Solutions Integrated Payment Apps Streamlined payment solutions Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 100

101 How will changing customer needs and behaviours in an increasingly cashless world change the payments landscape? Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 101

102 Value Transfer Money Transfer Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 102

103 Decentralised payment schemes leverage cryptographic protocols to transfer value virtually in a secure, low cost, near-instantaneous manner Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 103

104 Mobile Monies and P2P Value Transfer Networks Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 104

105 How do decentralised and non-traditional schemes differ from traditional money transfer models? Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 105

106 How will the evolution of decentralised or nontraditional payment schemes change the role of traditional financial institutions? Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 106

107 Decentralised Non-traditional Payment Schemes Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 107

108 Remittance Money Transfer Source: 108

109 International Remittance Value Chain Source: 109

110 Insurance Value Chain Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 110

111 Insurance Value Chain Source: World Economic Forum (2015), The Future of Financial Services, of_financial_services.pdf 111

112 Apply Pay Business Model Source: 112

113 Fintech Innovation: New Data Business Models Source: 113

114 Fintech Innovation Together: Better Use of Data Source: 114

115 Open API for FinTech Source: 115

116 Mobile Payment Service Source: Dahlberg, Tomi, Jie Guo, and Jan Ondrus. "A critical review of mobile payment research." Electronic Commerce Research and Applications 14, no. 5 (2015):

117 Mobile Payments Technology Innovations Source: Liu, Jun, Robert J. Kauffman, and Dan Ma. "Competition, cooperation, and regulation: Understanding the evolution of the mobile payments technology ecosystem." Electronic Commerce Research and Applications 14, no. 5 (2015):

118 Transferwise 118

119 Transferwise 119

120 Transferwise 120

121 TransferWise Bot for Facebook Messenger Source: 121

122 FinTech Technologies API Robot AI Blockchain 122

123 References Paolo Sironi (2016), FinTech Innovation: From Robo-Advisors to Goal Based Investing and Gamification, Wiley. Susanne Chishti and Janos Barberis (2016), The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries, Wiley. Alexander Osterwalder & Yves Pigneur (2010), Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Wiley, 2010 Raphael Amit and Christoph Zott (2012), "Creating value through business model innovation." MIT Sloan Management Review, 53, no. 3 (2012): 41. Chesbrough Henry (2007), "Business model innovation: it's not just about technology anymore." Strategy & leadership, 35, no. 6 (2007): Jun Liu, Robert J. Kauffman, and Dan Ma (2015), "Competition, cooperation, and regulation: Understanding the evolution of the mobile payments technology ecosystem." Electronic Commerce Research and Applications 14, no. 5 (2015): Tomi Dahlberg, Jie Guo, and Jan Ondrus (2015), "A critical review of mobile payment research." Electronic Commerce Research and Applications 14, no. 5 (2015):