E-finance innovations through social activities: the case of Lithuanian banking services Online publication date: Thu, 02-Jul-2015
by Ginta Railiene
International Journal of Business Excellence (IJBEX), Vol. 8, No. 4, 2015
Abstract: Changes in e-finance are numerous in spite of overall contraction of monetary flows in the Lithuanian economy. More attention is paid to provide traditional banking services in novel ways, offering free tools for planning budgets, testing financial investments, and consultations, etc. The research focuses on valuation of e-finance innovations occurrence through measures for knowledge inflows, testing whether and how social activities (education programs, open seminars, consultations, public comments, contests, games, platforms) and participation in networks allow to involve potential innovators and create advanced e-finance services. The emergence of social activities, especially by banks, is numerous; banks show more interest not only in separate projects, but in social networks as well. The research results indicate that involvement of banks into social activities is mostly related to reaching the aim of ensuring awareness and trust by current or potential customers and only partly of searching for opportunities to cooperate for innovations.
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