In 1904, Theodore Vail the president of Bell Telephone wrote the annual report whose central theme was called the “Network effect.” Theodore envisioned connecting the more than 4,000 local and regional telephone exchanges to create better communication across the United States.
The network effect is a phenomenon by the user(s) value is correlated to the number of other users of compatible products.
Fast forward a hundred plus years, we see how the network effect has change our lives from radio to television to the ethernet and social networking services like Twitter, Facebook, LinkedIn etc. In the financial services sector, we see the network effect in the office, on terminals, in trading, for settlement and money movements
The Kingfield Network Effect provides a number of benefits to the Kingfield user and the marketplace.
Economies of scale
- Decrease average production costs
- Lower development costs
- Faster development cycles
The greatest power of the Kingfield network is working with other Kingfield users; however, we understand that not all counterparties may be Kingfield users or are still being onboarded.
Kingfield is expanding its network effect beyond Kingfield users. Kingfield will provide users the ability to leverage the Kingfield system to accept claims via email into the system. Additionally, Kingfield will extend the network via a microsite for non-Kingfield users to acknowledge and accept claim outside the system, while the information is collected and view by the Kingfield user as if they were in the system.
The Kingfield Network includes global custodians, broker dealers and counterparties. The Kingfield network becomes more valuable as each new adopter joins the network.
Share this article: