Innovation In Banking
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Banking On Innovation
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Author : Tanai Khiaonarong
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-06-01
Banking On Innovation written by Tanai Khiaonarong and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-01 with Business & Economics categories.
Innovation in banking should be directed at improving the infrastructure that fosters efficient financial services and international trade. In this work, innovation theory is used to show how modern payment systems have transformed the technology of banking and facilitated changes in the strategy and structure of financial services organisations. Design, implementation and dissemination of payment systems are described and the analysis of their costs and benefits is combined with case studies of banks undergoing change. By studying firm capabilities, competencies, and resources, the approach is extended to services in general and linked to the ability of firms to compete and promote national economies. Payment systems vary and advanced and developing economies face obstacles in their legal and technical infrastructure, and maturity of banks. By adopting an international perspective, the book offers a unique comparative analysis that shows what kind of investments are likely to be effective.
Restructuring And Innovation In Banking
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Author : Claudio Scardovi
language : en
Publisher: Springer
Release Date : 2016-10-05
Restructuring And Innovation In Banking written by Claudio Scardovi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-05 with Business & Economics categories.
This book explains how to restructure and successfully turn around a bank or financial institution at a time when the global financial system is facing a new wave of disruption ushered in by innovation from digital financial technology, or FinTech. It is argued that within banking this process of creative destruction will entail unprecedented challenges for traditional institutions as well as opportunities for new, mostly digital, players. A great deal of restructuring, turnaround, and transformation will be required. While information on these topics is widely available with respect to corporates, this is not the case for banks. The book addresses this neglected area in detail, analyzing the changes that have been set in motion, examining how creative destruction can be anticipated by both old and new players, and explaining how to better manage restructuring and innovation in banking. The book will appeal to top and middle managers of banks and financial institutions, advisers, regulators, academics, and students.
Innovation In Banking
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Author : Ulrich Sprenzel
language : en
Publisher: GRIN Verlag
Release Date : 2016-02-08
Innovation In Banking written by Ulrich Sprenzel and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-08 with Business & Economics categories.
Master's Thesis from the year 2015 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1.3, Technical University of Munich (School of Management), course: Innovation and Business Creation, language: English, abstract: The impact of the financial crisis was a challenge for international and German banks and a test for the robustness of their business models. The consequences were stricter financial regulations introduced by Basel III and banks were forced to reduce proprietary trading and to refocus on traditional core banking business. Today supervisory authorities require sufficient and appropriate risk management systems to ensure financial stability and thus the internal operational complexity has increased and generates additional costs. In the aftermath of the financial crisis some banks are still struggling to regain competitiveness in combination with diminishing margins. In particular those banks are challenged with high dependency from interest income by deposit-financed retail banking business. In recent years financial technology companies, commonly known as FinTech, gained more importance in the financial industry and challenge banks and established business models. Digitisation is advancing in all industries and the music and media industry has already experienced a painful transformation process and a similar development is expected as well for the financial industry. Depending on how revolutionary the technological innovation is the more intense will be the impact on business models and in consequence fast adaptability is essential. The level of activity within FinTech is enormous at the moment in Germany and over one hundred new companies were launched in 2014. As a consequence digital business models are analysed with respect to core competences and how FinTech generates benefits for customers by improving the value with innovative digital solutions.
The Digital Banking Revolution
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Author : Luigi Wewege
language : en
Publisher: Scribl
Release Date : 2017-02-14
The Digital Banking Revolution written by Luigi Wewege and has been published by Scribl this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-14 with Business & Economics categories.
Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.
Technological Change Financial Innovation And Diffusion In Banking
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Author : W. Scott Frame
language : en
Publisher: DIANE Publishing
Release Date : 2010-08
Technological Change Financial Innovation And Diffusion In Banking written by W. Scott Frame and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08 with Business & Economics categories.
Discusses the technological change and financial innovation that commercial banking has experienced during the past 25 years. Describes the role of the financial system in economies and how technological change and financial innovation can improve social welfare. Surveys the literature relating to several specific financial innovations, which are new products or services, production processes, or organizational forms. The past quarter century has been a period of substantial change in terms of banking products, services, and production technologies. Moreover, while much effort has been devoted to understanding the characteristics of users and adopters of financial innovations, we still know little about how and why financial innovations are initially developed.
Innovation In The Financial Retail Banking Industry Are Banks Taking Over Fintechs Or Are Fintechs Taking Over Banking
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Author : Frederic Tronnier
language : en
Publisher: GRIN Verlag
Release Date : 2016-06-24
Innovation In The Financial Retail Banking Industry Are Banks Taking Over Fintechs Or Are Fintechs Taking Over Banking written by Frederic Tronnier and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-24 with Business & Economics categories.
Bachelor Thesis from the year 2016 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Frankfurt (Main) (Fachbereich für Wirtschaftsinformatik), language: English, abstract: The thesis focuses on how Fintechs are disrupting the financial retail banking industry and how banks react to these changes. In this context, challenges and opportunities of their actions will be analyzed and discussed. Furthermore, it will be derived how aspects of innovation influence the Fintechs success in this process and how innovation takes place in the financial industry in general. Finally, this thesis discusses the implications of the current situation for both Fintechs and banks, and identifies potential outcomes and consequences for all involved parties. Since the beginning of the 21st century and the spread of the internet whole industries have been transformed or became obsolete. Disruption in the form of digitalization has taken place in the music, book, media and movie industry. Online and mobile services, offered by start-ups and technology companies are changing one industry at a time. Retail-focused companies like Apple, Netflix, Google, Amazon and Twitter have changed the way people think and use music, films, books and media. They also changed the consumers’ general perception of good service, usability and of how companies are doing business. Despite all these improvements in our everyday life, the financial retail banking industry has remained relatively constant, even though it caused people to adapt to new circumstances, in the form of the Global Financial Crisis (GFC), resulting in a Global Recession and higher regulations for the industry. Since then, the industry missed the opportunity to regain the customers’ trust by changing their habits and improving their services. Instead, customers are increasingly unlikely to buy products or refer their bank but are increasingly prepared to leave their bank within the next six months. This state of stagnancy inside the financial retail banking industry seems to have changed. New entrants have caused uproar in the industry. Fintechs, an acronym for financial technology, are entering the retail market, forcing banks to adapt and innovate. Online and mobile banking services are now considered to be the future of financial retail banking. Fintechs threaten to take away customers by offering better and cheaper services with higher usability. As both the number of Fintechs and their customers increase, banks realize that Fintechs are going to be a threat for them.
Innovation And The Future Proof Bank
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Author : James A Gardner
language : en
Publisher: John Wiley & Sons
Release Date : 2011-04-20
Innovation And The Future Proof Bank written by James A Gardner and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-20 with Business & Economics categories.
Innovation, the conversion of the new to business as usual, is a very special business process. It is the business process able to reprogram all others. Creating the practices that make this process work is a key challenge for all in financial services that are worried about responding to the future. When an institution can identify things that are outside its present practices and convert them, production line style, into products, processes, cultural changes, or new markets, it will never be outpaced by internal or external change again. The institution becomes "FutureProof". This is a book about those practices in banks. It explains, using examples from institutions around the world, what it takes to create an innovation culture that consistently introduces new things into undifferentiated markets and internal cultures. It shows how banks can leverage the power of the new to establish unexpected revenue lines, or make old ones grow. And it provides advice on the social and political factors that either help or hinder the germination of the new in banks. Moreover, though, this is a book about the science of innovation in a banking context. Drawing from practices already highly developed in financial services—managing portfolios of assets to mitigate risk—it explains how practitioners can run their innovations groups like any other business line in the bank one that delivers a return on investment predictably and at high multiples of internal cost of capital. For leaders, Innovation and the Future Proof Bank provides the diagnostic tools to guide benchmarking and investment decisions for the innovation function. And for innovation practitioners, the book lays out everything needed to make sure that converting the new to business as usual is predictable, measurable, and profitable.
Innovation In Financial Services
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Author : Lech Gąsiorkiewicz
language : en
Publisher: Routledge
Release Date : 2020-10-29
Innovation In Financial Services written by Lech Gąsiorkiewicz and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-29 with Business & Economics categories.
This book delves into the many innovative changes that the financial industry has undergone in recent years. The authors investigate these developments in a holistic manner and from a wide range of perspectives: both public and private, business and consumer, regulators and supervisors. Initially, they set the framework of their analysis by discussing innovation cycles in financial services. Thereafter, they tackle the issue of financial innovations and their consequences for financial stability. They then review the new approaches to financial consumers’ protection, which emerged in the aftermath of the global financial crisis. The authors underline the fact that this new approach is heavily influenced by the recent innovative drive in the financial industry. Next, they switch their attention to the public sector, examining the innovative processes in monetary policy and central banks, structural innovations in the supervisory models and systems, and they assess some specific supervisory challenges regarding blockchain and the application of mathematics in the supervisory capacity. Additionally, the book examines a range of issues related to the private sector, such as recent developments regarding risk transferring mechanisms on the financial market, artificial intelligence and natural language processing for regulatory filings, the development of process management in insurance companies and other innovative products on the market. Finally, Innovation in Financial Services discusses how the digital transformation of the financial system impacts the interaction between the public and private sectors. The book is intended for graduate and postgraduate level students, researchers, public sector officers, as well as financial sector practitioners.
Innovation In The European Banking Industry Regulation Enables Innovative Banking Services
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Author : Moritz Mey
language : en
Publisher: GRIN Verlag
Release Date : 2021-01-04
Innovation In The European Banking Industry Regulation Enables Innovative Banking Services written by Moritz Mey and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-04 with Business & Economics categories.
Research Paper (undergraduate) from the year 2020 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, Hong Kong Baptist Universitiy, language: English, abstract: The number of FinTechs has been on the rise since. The European Fintech sector is the most valuable startup tech sector in Europe with an accumulated valuation of 123 billion € and it receives around 20% of all venture capital in Europe. The highest valuation of the FinTechs can be found among the neo banks. The largest European neo banks already have millions of customers and are now on entering the U.S. Market. But what has happened since 2008 that enabled the quick development of new entrants into the European banking industry? According to Davis, new regulations in the EU have created more competition by making it easier for new banks or payment institutions to obtain licences, enabling the customer to easily switch between providers and standardising systems and communication. In general, making it easier to get a product to the market.
Open Innovation In The Financial Services
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Author : Daniel Fasnacht
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-02-11
Open Innovation In The Financial Services written by Daniel Fasnacht and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-11 with Business & Economics categories.
Open innovation means gathering new ideas from sources beyond organizational boundaries. It occurs when solutions to address clients’ needs are developed in collaboration and the resulting products and services are distributed through a flexible network of partners. Daniel Fasnacht’s book, the first of its kind, discusses open business models in the context of the financial services industry. He elaborates the drivers for strategic change such as increasingly sophisticated clients or demanding shareholders among other trends, including the recent global financial crisis, and explains why the transition from a closed model of operation to open innovation is vital. Various case studies illustrate how to integrate the client into the firm's innovation process and emphasize the importance of smart client segmentation and a holistic advisory model to serve clients around the globe. Leaders must develop a set of new management practices to be able to invest in multiple strategic directions. They are responsible for giving clients a remarkable experience and for creating social relationship capital based upon an open innovation culture. Open Innovation in the Financial Services provides a much-needed framework for helping to understand industry dynamics in banking and to make the most of organizational energy by using open innovation to sustain profitable growth. The book comes at the right time and offers a new mindset for business – not only for expansion strategies in general, but especially during turbulent times.