One of the most important dynamics in almost all industries today is how value creation is increasingly shifting to be between organizations rather than within organizations.
Most notably, the nature of client-supplier relationships have dramatically shifted over the years.
This is not new. I have spent considerable time working with the institutional financial services sector, and seen major changes over the years. I recently recalled a White Paper I wrote years ago, How Collaborative Technologies are Transforming Financial Services, in the wake of a Collaboration in Financial Services conference I co-organized and chaired in New York.
Here is an excerpt from the White Paper. The same issues are still playing out today.
At the highest level, there is no question that collaborative technologies will impact the structure of the financial services industry. The implications may take some time to be visible, however the shifts in power and value creation between industry participants are already evident.