Work

Innovation in Retail Banking

Year: 1997

Type: preprint

Abstract: How does a retail bank innovate? Traditional innovation literature would suggest that organizations innovate by getting new and/or improved products to market. However, in a service, the product is the process. Thus, innovation in banking lies more in process and organizational changes than in new product development in a traditional sense. This paper reviews a multi-year research effort on innovation and efficiency in retail banking, and discusses both the means by which innovation occurs along with the factors that make one institution better than another in innovation. Implications of these results to the study of the broader service sector will be drawn as well.

Source: RePEc: Research Papers in Economics

Authors: Frances X. Frei, Patrick T. Harker, Larry W. Hunter

Institutions: Harvard University, University of Rochester, University of Pennsylvania, University of Wisconsin–Madison

Language: English

Topic: Service and Product Innovation

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: green

OpenAlex ID: W2337334539

Cites: 27

Cited by: 29

Related to: 10