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Digital Transformation in Banking: Exploring Value Co-Creation in Online Banking Services in India

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  • Dhanalakshmi Arumugam Malar
  • Viktor Arvidsson
  • Jonny Holmstrom

Abstract

Information Technology (IT) use has the potential to enhance firms’ capacity to build and sustain competitive advantages. Though a rich literature notes how IT use continues to change the nature, scale, and scope of service delivery, surprisingly few studies have addressed the digital transformation processes through which the introduction of new IT-enabled online services are introduced in firms and industries. To address this issue, we identify and examine the processes through which IT may create or impair business value in service processes. To theorize these processes, we adopt a service-dominant logic perspective that views the customer as a co-creator of firm value and analyze some observed risks, tensions, and socio-technical challenges associated with the introduction of an online banking service system in India. Drawing on the findings, we present implications for IT strategy research and discuss in particular how firms can avoid unexpected value destruction when they increase customer participation in the delivery of online services to create value.

Suggested Citation

  • Dhanalakshmi Arumugam Malar & Viktor Arvidsson & Jonny Holmstrom, 2019. "Digital Transformation in Banking: Exploring Value Co-Creation in Online Banking Services in India," Journal of Global Information Technology Management, Taylor & Francis Journals, vol. 22(1), pages 7-24, January.
    • Handle: RePEc:taf:ugitxx:v:22:y:2019:i:1:p:7-24
    DOI: 10.1080/1097198X.2019.1567216
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    Cited by:

    1. Holmström, Jonny, 2022. "From AI to digital transformation: The AI readiness framework," Business Horizons, Elsevier, vol. 65(3), pages 329-339.
    2. Gupta, Suraksha & Kanungo, Rama Prasad, 2022. "Financial inclusion through digitalisation: Economic viability for the bottom of the pyramid (BOP) segment," Journal of Business Research, Elsevier, vol. 148(C), pages 262-276.
    3. Madanaguli, Arun & Dhir, Amandeep & Talwar, Shalini & Clauss, Thomas & Kraus, Sascha & Kaur, Puneet, 2023. "Diving into the uncertainties of open innovation: A systematic review of risks to uncover pertinent typologies and unexplored horizons," Technovation, Elsevier, vol. 119(C).
    4. Muhammad Naeem & Wilson Ozuem & Kerry Howell & Silvia Ranfagni, 2022. "Understanding the process of meanings, materials, and competencies in adoption of mobile banking," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(4), pages 2445-2469, December.

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