Technology, Knowledge and the Firm
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Technology, Knowledge and the Firm

Implications for Strategy and Industrial Change

Edited by Ken Green, Marcela Miozzo and Paul Dewick

There is a long-standing tradition of research that highlights the importance of differences in the organizational and technological capabilities of firms and their effect on economic performance. This book expands on this theme by exploring the role of knowledge and innovation in firm strategy and industrial change. Underlying the volume is the belief that firms have distinctive methods of operation and that these processes have a strong element of continuity.
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Chapter 5: Consumers and Suppliers as Co-Producers of Technology and Innovation in Electronically Mediated Banking: The Cases of Internet Banking in Nordbanken and Société Générale

Staffan Hultén, Anna Nyberg and Lamia Chetioui


Staffan Hultén, Anna Nyberg and Lamia Chetioui 1. INTRODUCTION After a very media-hyped start many start-up e-banks now face serious economic problems. In contrast the traditional banks using a multi-channel strategy are rapidly gaining market share in the Internet channel. Internet banking is the latest step in the development of distance banking. Internet and other distance banking services hold interesting properties for the banking firms and for the customers. The bank’s principal benefits are increased customer retention and lower costs due to the transfer of work to the customers. The customers’ most important benefits are increased accessibility of the bank service, lower service charges and avoiding having to wait to be helped by a teller. The Internet is not only a new distribution channel for the bank sector but it also modifies the bank sector’s competitive landscape. New competitors, for example specialized share traders on the Internet, specialized mortgage services on the Internet and Internet banks without bank branches, have attacked the banks by promising to provide a more rapid and cheaper service. Information and communication technologies (ICTs) have already resulted in two evolutionary change processes in the banking industry. In a first development stage they supported the processing of the bank’s internal business and inter-bank transactions. In a second development stage they became the fastest channel to get access to the capital markets and permitted the creation of global electronic marketplaces. Today, ICTs 92 Consumers and suppliers in electronically mediated banking 93 provide support...

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