By Prasanna Dhore and Praveen Arivazhagan
Companies looking to grow revenue and profits can overlook opportunities they are already sitting on. They may pursue extensions of business as usual rather than trying to develop new business lines with the assets they already have. They may also focus on their core market rather than looking to entirely different products, markets, or industries.
Fiserv was sitting on a deep pool of real-time spending data. To unlock its untapped value, it needed to explore markets beyond its core financial services customers and work with a partner that has forged deep relationships in those new markets.
The resulting corporate venture empowered the financial services company to turn its data into an intelligence platform that helps consumer product and retail (CP&R) businesses get ahead of their competition by understanding how their consumers are spending and where new opportunities lie based on that behavior. This approach became a solution that can help retailers, restaurants, and consumer products companies better meet their customers’ desires.
Attacking Information Asymmetry
