Int. J. of Electronic Finance   »   2011 Vol.5, No.4

 

 

Title: Towards e-banking: the evolution of business models in financial services

 

Authors: Anu Bask; Hilkka Merisalo-Rantanen; Markku Tinnila; Theresa Lauraeus

 

Addresses:
Department of Information and Service Economy, Logistics, Aalto University School of Economics, P.O. Box 21220 (Runeberginkatu 22-24), FI-00076 Aalto, Finland.
Department of Information and Service Economy, Information Systems Science, Aalto University School of Economics, P.O. Box 21220 (Runeberginkatu 22-24), FI-00076 Aalto, Finland.
Department of Information and Service Economy, Logistics, Aalto University School of Economics, P.O. Box 21220 (Runeberginkatu 22-24), FI-00076 Aalto, Finland.
Department of Information and Service Economy, Information Systems Science, Aalto University School of Economics, P.O. Box 21220 (Runeberginkatu 22-24), FI-00076 Aalto, Finland

 

Abstract: We explore the evolution of business models over time in five Finnish organisations from the banking, insurance or retail sector. The scope of the banking services to consumers has been extended in traditional banks from basic banking services to asset management, insurance and expert services. Deregulation and new technologies have enabled internationalisation and free competition. New organisations and niche players from other industries have entered the industry. Our findings add to previous research on the actual changes and the drivers and enablers of the business model evolution over time, and help practitioners to further develop their business models.

 

Keywords: banking industry; banking services; business models; evolution; drivers; enablers; e-banking; e-finance; electronic banking; online banking; electronic finance; Finland.

 

DOI: 10.1504/IJEF.2011.043347

 

Int. J. of Electronic Finance, 2011 Vol.5, No.4, pp.333 - 356

 

Available online: 25 Oct 2011

 

 

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