Banks must meet new compliance and regulatory requirements established in the wake of the financial crisis of 2008. In addition the traditional business model is eroding and under pressure due to loss of trust by clients, advanced technology and new competition.
Current bank reactions are minimal, mainly limited to standardisation of the consulting process or, in order to comply with new requirements, burdensome paperwork for bank clients and their advisors. This is an apparent contradiction to improving the quality of consulting. The challenges facing banks are fundamental and can only be solved by some type of disruptive innovation.
We are developing a solution that combines the power of modern hardware with well known but current findings from information design and the field of values-based decision theory and in parallel the capacities of cognitive computing. It is based on our substantial cooperation with IBM in the fields of collaboration and social business as well as banking solutions.
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