Frederic Giron, Research Director
What makes Alibaba and Tencent successful business platforms? They’ve built a two-way relationship, creating a common technical foundation wherein customers and suppliers can interact and exchange information. By cultivating mutual exchange, they’ve earned customers’ trust.
But building trust requires more than technology. Successful platform business models have three layers: the technology platform (the fundamental layer), the business platform (where there is value exchange), and the relationship platform (where firms reinvent the business narrative).
In this week’s episode, Research Director Frederic Giron explores how banks in Asia are taking a cue from Alibaba and Tencent and using these three layers (and the massive amounts of customer insights generated by business platforms) to build closer relationships with customers — ultimately expanding their business and creating new sources of revenue.