DIGITAL CAR MARKET – Saudi Arabia
Save your cash, build wireframes
The Problem?
Q . Why would any company, startup, traditional financial company or IT company, benefit from becoming a developer on Saxo Bank’s trading platform?
A. Saxo Bank’s trading platform provides an opportunity for developers to:
- Differentiate themselves
- Reduce development overheads & costs
- Provides network for product distribution
Diagnosis
| Saxo Bank deals primarily in multi-asset trading | Using Saxo Banks trading platform developers can focus on solving real word business problems without getting bogged down in infrastructure issues |
| Fully licenced and regulated | Saxo Bank has already invested in branding, ensuring regulatory compliance and security which should instill confidence in developer’s customers |
| Have been in the industry for 25 years | Being a two sided network Saxo Bank’s platform provides a perfect play ground for developers to test out the market and adjust the product accordingly. |
| Platform available in more than 20 languages | |
| Forms the technology backbone of more than 100 financial institutions worldwide | |
| Has won multiple awards |
What Next?
Q. What are the major FinTech trends that Saxo Bank should seek to leverage through the developer community?
A. Being an investment bank Saxo Bank has access to large lending windows. Saxo Bank should make these windows available to developers inorder for them to spun further growth.
They need to leverage new trends such as:
- Open Banking
- PSD2 – Payments
- P2P Lending
- Crowd Funding
Q. What should Saxo Bank do to build the developer community?
A. Saxo Bank needs to ‘tip across markets’ to build the developer community
Prescription
Tipping across markets
| Better licensing to protect platform revenues | Saxo Bank has been successful at opening itself up allowing for its customers to come up with creative use cases. | Example: Investment traders can purchase insurances to minimize their trading positions |
| Investment in brand equity | This success should be used as stepping stone to increase platform adoption. | Customers in Insurance industry could be allowed to invest against their insurances |
| Subsiding of developers in partner industries | ||
| Absorb features of allied markets and to provide its capabilities to those markets as well. e.g insurance, payments, mortgage | ||
| Building industry coalition with cross industry partners | ||
| Create cooptive tension in the platform eco-system | ||
| Establish itself as a keystone player |
How can we help?
What i wanted to show with this post is how companies and startup can utilize existing and available platforms up their sell and become more market ready.
bCubex can help with this transformation, continuous innovation and help your business to improve your customer experience and digitalize existing business process. We provide the technology muscles needed for such transformation. From CTO services right down to the engineering strengths needed for Digita’l’ization.
