Download Banking on Innovation: Modernisation of Payment Systems by Tanai Khiaonarong PDF

By Tanai Khiaonarong

Innovation in banking could be directed at enhancing the infrastructure that fosters effective monetary companies and overseas exchange. during this paintings, innovation conception is used to teach how glossy check structures have remodeled the know-how of banking and facilitated alterations within the approach and constitution of monetary prone agencies. layout, implementation and dissemination of check platforms are defined and the research in their expenditures and merits is mixed with case reports of banks present process switch. by means of learning enterprise features, talents, and assets, the technique is prolonged to providers commonly and associated with the facility of organizations to compete and advertise nationwide economies. fee structures differ and complex and constructing economies face hindrances of their criminal and technical infrastructure, and adulthood of banks. via adopting a global viewpoint, the booklet bargains a different comparative research that indicates what sort of investments usually are powerful.

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These substitutions of resources, however, vary among firms and may be a potential source of innovation, provided that they are unique. In sum, these four attributes influence the replication of resources. They have behavioural characteristics and represent the dynamic processes involved in innovation, which influences the three types of resources in the analytical framework – physical, organisational, and human. Moreover, these attributes are the conditions that influence the competitiveness of firms, sectors, and countries.

For example, a firm may compete with a rival company through the purchase of a similar software programme used by their competitor, provided that the software is widely available in the market and relatively simple to imitate. The mobility of the resources also determines the difficulty of transfer. For example, the transfer of a single software programme is much simpler than transferring the complete information system, which includes the computer software, computer hardware, and the people who operate them.

Nevertheless, Pennings (1998) suggests that there are delayed benefits in IT investments by organisations, as they require time, approximately over 10 years, to absorb and learn the technology. Lastly, human resources include managerial-technical skills specific to IT. The case of Citicorp provides one illustration (Glaser 1988). Early attempts by the bank to develop the ATM were unsuccessful, although the company’s senior management provided full support. Notwithstanding such failures, the bank formed a subsidiary company, following an agreement with another computer firm, which involved the transfer of 30 technical staff from the latter to the former firm.

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