Industry-wide data processing and technology platforms are emerging in greater numbers. Most financial services firms use and depend on these technology-based platforms to varying degrees. Companies that attempt to avoid their use by trying to develop in-house technologies and solutions in-house and process their own data typically underperform.
However, many of these powerful platforms that control high proportions of industry data are themselves controlled by non-industry third parties. These third parties often extract high profits for their services, and also repackage and exploit data that rightfully belongs to industry members.
In many cases, industry members would be far better off forming their own data and technology consortiums to serve their business segments.
QualRisk’s Multi-company Consortium Services provide a comprehensive set of capabilities that allows our clients to create and maximize the value of multi-company data and technology consortiums. QualRisk works within industries to help companies take advantage of opportunities to build platforms on collective data assets, allowing those industries to retain control of their own data and all the value it can produce. All of QualRisk’s consortium activities are conducted under strict antitrust supervision. Specifically, QualRisk assists with:
Existing or Long-Standing Consortia or Industry Associations
QualRisk reviews strategies, operations, organization, and governance to ensure the consortia or association is delivering maximum value to its stakeholders.
Individual Companies in Reviewing and Assessing Their Existing Multi-Company Initiatives
QualRisk reviews existing multi-company initiatives, including current participation in industry associations and consortia, to ensure the starting position of the company in this arena is strong.
Multiple Companies With Ideas for Greater Industry Collaboration
QualRisk works with these companies to assess the potential to launch new consortia, including the business case and governance requirements, and then, where appropriate, to form and launch the consortia.
Newly Formed Consortia
QualRisk provides initial management services related to building the new company, including hiring and managing initial permanent staff of the consortium.