A New Breed of Vendors: Platform Services Providers

In 2016, I predicted that “the most significant trend of the year will be the ‘platformification’ of banking, where both existing banks and startups begin a strategic shift towards becoming banking platforms, much like how Amazon is a platform in retail.” A platform is “a plug-and-play business model that allows multiple participants (producers and consumers) to connect to it, interact with each other, and create and exchange value.” There are three important...

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