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Diffusion of information technology innovations within retail banking: an historical review

Bátiz-Lazo, Bernardo and Wood, Douglas (2003). Diffusion of information technology innovations within retail banking: an historical review. In: Joia, L.A. ed. IT-Based Management: challenges and solutions. Hershey PA: Idea Group Publishing, pp. 232–252.

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Abstract

Technological innovation in general and information technology (IT) applications in particular have had a major effect in banking and finance. Following Garbade and Silber (1978), this research reviews the effects on banking organisations with reference to front office or external changes as described by the nature of product and service offerings. Following Morris (1986), Quintás (1991) and Fincham et al. (1994), the research also considers innovations in the back office or internal (operational function) changes brought about to banking organisations. Outstanding IT-based innovations are considered and grouped into four distinct periods: early adoption (1864-1945), specific application (1945-1965), emergence (1965-1980) and diffusion (1980-1995). The research then discusses the potential impact of more recent innovations (i.e., electronic purses, digital cash and Internet banking). As a result, the research provides an historical perspective on the main drivers determining the adoption of technological innovation in retail banking.

Item Type: Book Chapter
ISBN: 1-59140-033-3, 978-1-59140-033-2
Keywords: banking industry, Database Management System, Electronic Payment Systems, Financial Services Industry, IT adoption, IT Diffusion, IT Innovation, IT standards, Strategic IT management, technological change, technological progress
Academic Unit/Department: Open University Business School
Item ID: 1220
Depositing User: Users 12 not found.
Date Deposited: 13 Jul 2006
Last Modified: 02 Dec 2010 19:45
URI: http://oro.open.ac.uk/id/eprint/1220
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