The ability to collect and exploit consumers’ personal data has long been a source of competitive advantage in the digital economy. It is their control and use of this data that has enabled the likes of Google, Amazon, Alibaba, and Facebook to dominate online markets.
What If Banks Were the Main Protectors of Customers’ Private Data?
They already have many of the necessary skills.
November 20, 2018
Mark Wilson/Getty Images
Summary.
Consumers are poor guardians of their personal data, and the tech giants are too well placed to exploit that data. This presents a business opportunity for banks, which already have many of the necessary skills.
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New!
HBR Learning
HBR Learning
Digital Intelligence Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Digital Intelligence . Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Excel in a world that's being continually transformed by technology.