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The evolution of retail banking services in United Kingdom: a retrospective analysis

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  • Davide Consoli

    (CRIC, University of Manchester & UMIST)

Abstract

The purpose of this paper is to assess the sequence of technological changes occurred in the retail banking sector of the United Kingdom against the emergence of customer services by developing an evolutionary argument. The historical paradigm of Information Technology provides useful insights into the ‘learning opportunities’ that opened the way to endogenous changes in the banking activity such as the reconfiguration of its organizational structure and the diversification of the product line. The central idea of this paper is that innovation never occurs without simultaneous structural change. Thus, a defining property of the banking activity is the diachronic adaptation of formal and informal practices to an evolving technological dimension reflecting the extent to which the diffusion of innovation (re)generates variety of micro level processes and induces industry evolution.

Suggested Citation

  • Davide Consoli, 2003. "The evolution of retail banking services in United Kingdom: a retrospective analysis," Industrial Organization 0310002, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpio:0310002
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    References listed on IDEAS

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    Cited by:

    1. Faruk Ahmeti & Burim Prenaj, 2022. "Determinants Affecting Consumer Acceptance and Adoption of Internet Banking in Developing Countries: The case study of Kosovo," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 60-79.
    2. Abdul-Moomin Adams & Motin Bashiru & Ibrahim Abu Abdulai, 2016. "Customer Satisfaction in the Banking Industry in Ghana: A Case of GCB Bank Limited in Wa Municipality," Journal of Social Science Studies, Macrothink Institute, vol. 3(2), pages 217-235, July.
    3. Consoli, Davide, 2005. "Technological cooperation and product substitution in UK retail banking: the case of customer services," Information Economics and Policy, Elsevier, vol. 17(2), pages 199-215, March.

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    More about this item

    Keywords

    Information Technology; Retail Banking; History of Technology; Innovation Systems.;
    All these keywords.

    JEL classification:

    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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