Innovation in Retail Banking

97-48

Posted: 18 May 1998

See all articles by Frances X. Frei

Frances X. Frei

Harvard Business School

Patrick T. Harker

University of Pennsylvania - Operations & Information Management Department

Larry W. Hunter

University of Wisconsin - Madison - Department of Management and Human Resources

Date Written: November 1997

Abstract

How does a retail bank innovate? Traditional innovation literature would suggest that organizations innovate by getting new and/or improved products to market. However, in a service, the product is the process. Thus, innovation in banking lies more in process and organizational changes than in new product development in a traditional sense. This paper reviews a multi-year research effort on innovation and efficiency in retail banking, and discusses both the means by which innovation occurs along with the factors that make one institution better than another in innovation. Implications of these results to the study of the broader service sector will be drawn as well.

JEL Classification: G21

Suggested Citation

Frei, Frances X. and Harker, Patrick T. and Hunter, Larry (Chip) W., Innovation in Retail Banking (November 1997). 97-48, Available at SSRN: https://ssrn.com/abstract=89168

Frances X. Frei (Contact Author)

Harvard Business School ( email )

Soldiers Field Road
Morgan Hall 411
Boston, MA 02163
United States

Patrick T. Harker

University of Pennsylvania - Operations & Information Management Department ( email )

Philadelphia, PA 19104
United States
215-898-4715 (Phone)
215-573-2065 (Fax)

Larry (Chip) W. Hunter

University of Wisconsin - Madison - Department of Management and Human Resources ( email )

Madison, WI
United States

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