About this Course
4.6
221 ratings
51 reviews
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Beginner Level

Beginner Level

Hours to complete

Approx. 16 hours to complete

Suggested: 5 hours/week...
Available languages

English

Subtitles: English

Skills you will gain

Financial ServicesDigital StrategyFinancial TechnologyBusiness Ecosystem
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Beginner Level

Beginner Level

Hours to complete

Approx. 16 hours to complete

Suggested: 5 hours/week...
Available languages

English

Subtitles: English

Syllabus - What you will learn from this course

Week
1
Hours to complete
4 minutes to complete

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!...
Reading
1 video (Total 4 min)
Video1 video
Hours to complete
3 hours to complete

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. ...
Reading
8 videos (Total 45 min), 5 readings, 5 quizzes
Video8 videos
Beyond Digitization: Digitalization8m
A brief history of the Digitalization of Finance5m
Saxo Bank: The digital transformation3m
The Digital Customer9m
The Regulatory Game5m
Saxo Bank: Changing regulation3m
The Logic of the Digital Financial Industry7m
Reading5 readings
What does it mean to be a digital native?10m
Why should the financial sector be regulated?10m
Compliance with EU Payments Regulation12m
Financial Regulation12m
Network effects12m
Quiz5 practice exercises
Recapture Digitization and digitalization8m
Recapture The digital customer8m
Recapture Changing regulation2m
Recapture Digital markets10m
Week 1 assessment30m
Week
2
Hours to complete
3 hours to complete

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. ...
Reading
6 videos (Total 35 min), 7 readings, 6 quizzes
Video6 videos
Platform economics7m
Competing with platforms7m
Extending platforms6m
Ordered chaos8m
The winner takes it all4m
Reading7 readings
History of platform economics8m
Demand side economics5m
History of Google10m
History of Microsoft10m
Open innovation15m
Generativity5m
Why a few wins12m
Quiz6 practice exercises
Recapture Platform economics6m
Recapture Platform core6m
Recapture Platform complements8m
Recapture Platform leadership5m
Recapture Competition between platforms6m
Week 2 assessment16m
Week
3
Hours to complete
3 hours to complete

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....
Reading
7 videos (Total 54 min), 4 readings, 5 quizzes
Video7 videos
Predators and Pray in Business Ecosystems8m
Saxo Bank: Coopetition in business ecosystems6m
Friends and Enemies9m
Hearding cats9m
Plug n' play12m
Saxo Bank: Fusion of digital and business5m
Reading4 readings
Ecosystem thinking15m
Visa and PayPal opt for “co-opetition”10m
SAP Partner Edge15m
Winners Take Some: A New Norm in Standards Wars?15m
Quiz5 practice exercises
Recapture Digital business ecosystems8m
Recapture Coopetition6m
Recapture Ecosystem governance6m
Recapture Technology ecosystems12m
Week 3 assessment30m
Week
4
Hours to complete
3 hours to complete

Capstone project: How open is open enough?

...
Reading
1 video (Total 8 min), 3 readings, 1 quiz
Reading3 readings
Your assignment10m
Benny Boye Johansen: OpenAPI and OpenBank6m
Open Sesame: The Journey Towards an Open Platform Strategy – Saxo Bank30m
4.6
51 ReviewsChevron Right
Career Benefit

50%

got a tangible career benefit from this course

Top Reviews

By WHDec 7th 2017

Great course! It was insightful to learn the new dynamics in a digitalized world and what companies can do to position themselves to take advantage of the current and future opportunities.

By RRMar 27th 2018

A futuristic focus on financial services with variety of examples from current period.\n\nA brief discussion and new things about the digital competition.\n\nReally enjoyed.

Instructors

Avatar

Jonas Hedman

Associate Professor
Department of Digitalization
Avatar

Stefan Henningsson

Associate Professor
Department of Digitalization

About Copenhagen Business School

Centrally located in Copenhagen, the capital of Denmark, Copenhagen Business School (CBS) is one of the largest business schools in Europe with close to 23,000 students. CBS offers world-class research-based degree programs at undergraduate, graduate, and PhD levels as well as executive and other post experience programs. ...

About the Digital Transformation in Financial Services Specialization

This Specialization is intended for learners that have or wants to have a career in the digital financial industries. The Specialization explores the evolving world of finance, focusing on the changing dynamics caused by the conversion of products and services into digital goods, new customer demands and changing regulation to govern the competetive landscape - the digital transformation of finance. You’ll learn about concepts such as digital platforms and business ecosystems, be exposed to the emerging Fintech landscape and master a new toolbox for successfully competing on innovation in the digital era of finance. In the final Capstone Project, you’ll create and defend a holistic digital transformation strategy for a real world company. Throughout the course, the instructors will use state of art examples and share their own research from the European and North American finance industries, as well as expose practices from leading digital financial services and companies, such as MobilePay, Saxo Bank and PayPal. The main focus in the course is on the financial sector (in particular in North America and Europe), but the course also include material of relevance for the financial trading and insurance sectors and inspiration from Africa....
Digital Transformation in Financial Services

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

More questions? Visit the Learner Help Center.