Information technology innovations and commercial banking: A review and appraisal from an historical perspective
Technological innovation in general and information technology (IT) applications in particular, have had a major effect in banking and finance. Following Garbade and Silber (1978), this research reviews the effects on banking organisations with reference to front office or external changes as described by the nature of product and service offerings. Following Morris (1986) and Quintás (1991), the research also considers innovations in the back office or internal (operational function) changes brought about to banking organisations. Outstanding IT-based innovations are considered and grouped into four distinct periods: early adoption (1864-1945), specific application (1945-1965), emergence (1965-1980) and diffusion (1980-1995). The research then discusses the potential impact of more recent innovations (i.e. electronic purses, digital cash and Internet banking). As a result, the research provides an historical perspective on the main drivers determining adoption of technological innovation in retail banking markets.
|Date of creation:||10 Nov 2002|
|Date of revision:|
|Note:||Type of Document - pdf; to print on HP/PostScript/Franciscan monk; pages: 42|
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- Swank, Job, 1996. "Theories of the Banking Firm: A Review of the Literature," Bulletin of Economic Research, Wiley Blackwell, vol. 48(3), pages 173-207, July.
- Robert DeYoung, 2001. "The financial performance of pure play Internet banks," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q I, pages 60-78.
- Joaquín Maudos Villarroya & José Manuel Pastor Monsálvez, 1995. "Prestación de Servicios Bancarios en las Cajas de Ahorros Españolas: Cajeros Automáticos versus Oficinas," Working Papers. Serie EC 1995-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Walker, David A., 1978. "Economies of scale in electronic funds transfer systems," Journal of Banking & Finance, Elsevier, vol. 2(1), pages 65-78, June.
- Baltensperger, Ernst, 1980. "Alternative approaches to the theory of the banking firm," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 1-37, January.
- Stuber, Gerald, 1996. "The Electronic Purse: An Overview of Recent Developments and Policy Issues," Technical Reports 74, Bank of Canada.
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