Traditional financial services organizations that have relied on monolithic business models are now being challenged by new fintech companies with ‘consume as a service’ business models. To remain agile and cater to market opportunities and demand, these organizations need to adopt a ‘composable enterprise’ business model enabled by technology.
A composable enterprise business model offers several advantages:
- Products and services can be provided independently
- Products and services can be assembled to create product lines in a business process.
- Additional products and services can be created and integrated into the business process.
This white paper examines growth opportunities in the financial services industry. Specifically, it looks at crypto asset classes and data monetization in financial services as excellent examples of how new products can be introduced into the market through the composable enterprise business model.
