Year: 2015
Type: dissertation
Abstract: The context of financial services has been characterised by changes in the \nregulatory, technological and societal landscape. Consumers are increasingly \ninterested in mobile payments, crowdfunding and microfinance services, \neither for themselves or because collaborative consumption is viewed as a \nmore sustainable. Retail branches are re-organised to further meet the \nexpectations of customers, start-ups focusing on technology for financial \nservices (i.e. Fintech) are ever growing and financial services companies \nreinforce their own innovation practices (e.g. creation of innovation labs or \nventure capital investment funds). \nThe innovation ecosystem around financial services companies represents the \nmany actors with whom they can co-create and co-produce innovative new \nservices for their customers (or for themselves). The innovation process is no \nlonger a closed internal effort but needs to include external actors from the \ninnovation ecosystem. This topic is especially interesting in a small and open \neconomy where the financial centre takes a prominent place in the economy. \nThe research question is therefore “How does the innovation ecosystem \ninfluence the innovation process within financial services companies?”. \nThe influence of the innovation ecosystem on the innovation process within \nfinancial service companies mainly comes from its social capital and value \ncreation efforts. However learning to work and exchange in an innovation \necosystem is also expected to influence the innovation process in place. \nRealizing the potential of the innovation ecosystem requires sufficient \ncapabilities to manage new information coming from the innovation \necosystem. The professional associations provide the necessary coordination \namong actors in the innovation ecosystem to co-create and appropriate value, \nwhile fostering co-evolution within the innovation ecosystem.
Source: LUTPub (LUT University)
Author: Dieter De Smet
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: green
Funder: European Commission
OpenAlex ID: W2189129021