It is no secret that the science of decision-making has been deeply impacted by behavioural principles in recent years. We spoke with Professor Ivo Vlaev about the mainstreaming of behavioural economics and why corporate strategists should embrace its powerful insights.
As we discovered in our recent paper "The exponential CFO”, the emergence of digital technology offers an unprecedented opportunity for the CFO to become more strategic. This makes sense - the digital world requires not only decision-makers that understand its impact, but also embrace it in their own decision-making.
Pioneered in developing countries, mobile banking is proving a disruptive force to providers of traditional banking services, as telcos, online providers and others create offerings of their own. Initially wary, many banks are now looking to partner with such organisations, blending complementary skills and operational models. In a relatively young market, banks must decide whether to lead or follow. Doing nothing is no longer an option.
Cryptofinance technologies have the potential to revolutionise the financial sector by transforming business models, connecting new counterparties and generating sweeping efficiencies, but work needs to be done before the full benefits of the underlying blockchain technology are realised.