About this course: Welcome to Digital Transformation Strategy! As you probably know, this is the first course in a three part specialization focused on the digital transformation of finance. We'll aim to bring you insights about how digitalization intersects with finance, culled from one of the world's top regions for digital innovation. I'm excited to have you in the class and look forward to helping you learn more about this important topic. To begin, I recommend taking a few minutes to explore the course site. A good place to start is the navigation bar on the left. Click Course Content to see what material we’ll cover each week, as well preview the assignments you’ll need to complete to pass the course. Click Discussions to see forums where you can discuss the course material with fellow students taking the class. Be sure to introduce yourself to everyone in the Meet and Greet forum! This course should take about four weeks to complete. You can check out the recommended course schedule below to see a quick overview of the lessons and assignments you’ll complete each week. By the time you finish this course, you’ll have mastered the transformational forces of digitalization and the new competitive dynamics it gives rise to, learned from leading financial companies and seen inspirational examples from the digital masters. You'll be introduced to the Capstone Project for the specialization and have a chance to form some preliminary solutions for a financial company seeking a new strategy for the digital age of finance. Good luck as you get started. I look forward to seeing you in class!
Created by: Copenhagen Business School
Taught by: Jonas Hedman , Associate Professor
Department of Digitalization
Taught by: Stefan Henningsson, Associate Professor
Department of Digitalization
| Basic Info | Course 1 of 4 in the Digital Transformation in Financial Services Specialization |
| Level | Beginner |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
Syllabus
WEEK 1
Digital Competition in Financial Services
Welcome to Digital Competition in Financial Services! We’re excited to have you in the class and look forward to helping you learn more about this important topic. To begin, I recommend taking a few minutes to explore the course site. A good place to start is the navigation bar on the left. Click Course Content to see what material we will cover each week, as well preview the assignments you will need to complete. Click Discussions to see forums where you can discuss the course material with fellow students taking the class. Be sure to introduce yourself to everyone in the Meet and Greet forum! This course should take four weeks to complete. You can check out the recommended course schedule below to see a quick overview of the lessons and assignments you will complete each week. By the time you finish this course, you will have mastered important concepts needed to understand the transformation, learned from best practice in digital industries, and seen how firms in financial services are embracing the new rules of competition. You will be introduced to the Capstone Project for the specialization and have a chance to form some preliminary solutions for a financial service company that is re-inventing itself to compete in finance as a digital industry. Good luck as you get started. We look forward to seeing you in class!
1 video
- Video: Welcome to the course
The digital transformation
The digital transformation is radically rewriting the rules of competition in the financial service industries. In this module, we are exploring the forces shaping the new competitive dynamics: product and service digitization, changing customer demands and new regulations. Together, these forces give rise to completely new market structures that force organizations to compete in new ways.
8 videos, 5 readings, 4 practice quizzes
- Video: Module introduction
- Video: Beyond Digitization: Digitalization
- Video: A brief history of the Digitalization of Finance
- Video: Saxo Bank: The digital transformation
- Discussion Prompt: Your digital life
- Practice Quiz: Recapture Digitization and digitalization
- Video: The Digital Customer
- Reading: What does it mean to be a digital native?
- Discussion Prompt: Say Hi to your new customer!
- Practice Quiz: Recapture The digital customer
- Video: The Regulatory Game
- Reading: Why should the financial sector be regulated?
- Reading: Compliance with EU Payments Regulation
- Reading: Financial Regulation
- Video: Saxo Bank: Changing regulation
- Discussion Prompt: Encounters with Regulation
- Practice Quiz: Recapture Changing regulation
- Video: The Logic of the Digital Financial Industry
- Reading: Network effects
- Practice Quiz: Recapture Digital markets
Graded: Week 1 assessment
WEEK 2
Digital platforms
At the heart of the digital transformation rests an increased orientation towards digitally enabled platform-based business models. In this module, we cover how firms compete with platforms and how platforms change the dynamics of affected industries. We explore the workings of the platform, including how to establish a platform core for others to build on and how to manage the relationship to 3rd party developers. We contextualize the ideas behind digital platform thinking using examples both from financial service companies and from the digital giants that excel in platform-based businesses.
6 videos, 7 readings, 5 practice quizzes
- Video: Module introduction
- Discussion Prompt: Use of digital platforms
- Video: Platform economics
- Reading: History of platform economics
- Reading: Demand side economics
- Practice Quiz: Recapture Platform economics
- Video: Competing with platforms
- Reading: History of Google
- Reading: History of Microsoft
- Practice Quiz: Recapture Platform core
- Video: Extending platforms
- Reading: Open innovation
- Practice Quiz: Recapture Platform complements
- Video: Ordered chaos
- Reading: Generativity
- Practice Quiz: Recapture Platform leadership
- Video: The winner takes it all
- Reading: Why a few wins
- Discussion Prompt: What can we learn from the digital giants?
- Practice Quiz: Recapture Competition between platforms
Graded: Week 2 assessment
WEEK 3
Digital ecosystems
In this module, we introduce the business ecosystem metaphor as a way to think of and model the increasingly complex relationships between actors in the digital financial service industries. We elaborate on how to deal with relational tensions internally and towards externally. We also address how digital technology strategies become inseparable from business strategy in the digital era.
6 videos, 4 readings, 4 practice quizzes
- Video: Module introduction
- Video: Predators and Pray in Business Ecosystems
- Reading: Ecosystem thinking
- Video: Saxo Bank: Coopetition in business ecosystems
- Practice Quiz: Recapture Digital business ecosystems
- Video: Friends and Enemies
- Reading: Visa and PayPal opt for “co-opetition”
- Practice Quiz: Recapture Coopetition
- Video: Hearding cats
- Reading: SAP Partner Edge
- Discussion Prompt: Keys to a partner program
- Practice Quiz: Recapture Ecosystem governance
- Video: Plug n' play
- Reading: Winners Take Some: A New Norm in Standards Wars?
- Practice Quiz: Recapture Technology ecosystems
Graded: Week 3 assessment
WEEK 4
Capstone project: How open is open enough?
1 video, 3 readings
- Reading: Your assignment
- Video: Søren Kyhl: Saxo Bank in the Digital Financial Industry
- Reading: Benny Boye Johansen: OpenAPI and OpenBank
- Reading: Open Sesame: The Journey Towards an Open Platform Strategy – Saxo Bank
Graded: What should Saxo Bank do, and why?
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Copenhagen Business School
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|---|---|---|
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| Access to graded materials | Not available | Available |
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| Earn a shareable Course Certificate | Not available | Available |
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