Innovation in Financial Services: A Dual Ambiguity
This book gathers together some of the most up-to-date thinking in the growing field of innovation in services and more particularly, in financial services. It explores the peculiarities of innovation in financial services firms and surrounding market players, discusses the open nature of the innovation process, and analyses its success factors and its interplay with strategy and performance. This book provides topical insights on the challenges facing the financial industry, such as the convergence with other sectors, and the increasing regulatory burden. By combining multidisciplinary approaches and by selecting a number of cutting-edge research models, theories, empirical findings and practitioners’ insights, it offers unique, contemporary and multidimensional perspectives on innovation for a sector of paramount importance for the running of economies around the world. This book comes at a time of turbulence, uncertainty and within an industry in need of vision and strategic foresight. By synthesizing multiple views from academia and practice, it opens the agenda and contributes to the on-going debate of redefining the multi-polar role of innovation in the financial industry.
Dr Anne-Laure Mention is leading a research unit focusing on innovation economics and management within the Public Research Centre Henri Tudor, Luxembourg. Her research interests mainly concentrate on open and collaborative innovation, intellectual capital measurement and management, innovation and technology management, with a focus on financial and business-to-business services industries. She has published in leading academic journals and has been a Visiting Researcher at McGill University, Canada, at Ferrara University, Italy and at Singapore Management University. She received two prestigious IBM Faculty Awards for her works in the field of open innovation in services, is a founding member of WICI, and is the Deputy Head of the ISPIM Advisory Board. She is one of the founding editors of the open access, multidisciplinary Journal of Innovation Management. She is regularly involved as Jury Member in international competitions revolving around financial innovation, and has gained practical experience in the consulting and venture capital industries.
Dr Marko Torkkeli is a Professor of Technology and Business Innovations at the Lappeenranta University of Technology, Finland. His research interests focus on technology and innovation management, strategic entrepreneurship, growth venturing, and decision support systems. He has published over 200 articles in academic journals. He is a Visiting Researcher at INESC Porto, Portugal, a Docent of Technology-based Business at University of Jyväskylä, Finland, a Docent of Technology and Innovation Management at Helsinki University of Technology, Finland, and holds an Affiliated Faculty position at Singapore Management University. He has more than 15 years of experience of consulting activities in innovation management and strategy. He serves as the Director of Publications of the International Society for Professional Innovation Management (ISPIM) and is one of the founding editors of the open access, multidisciplinary Journal of Innovation Management.
"For a truly global perspective on service innovation in the financial sector, this compendium provides wonderful fresh perspectives. Truly required reading for all service scientists."
—Dr. James ("Jim") C. Spohrer, Director, IBM University Programs (IBM UP) and Cognitive Systems Institute
"The financial services industry has often been accused of not being innovative – this book is an excellent collection of insights that demonstrates how innovation plays a major role in this sector!"
—Iain Bitran, Executive Director, ISPIM - International Society for Professional Innovation Management
"Mention and Torkkeli rise to the challenge and take the reader on a very interesting journey exploring innovation in and for financial services – an important topic for both practitioners and academics."
—Martin Ihrig, Practice Associate Professor, University of Pennsylvania
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