UK financial services - short-changed on ideas?

Keith Lindsay

Discusses innovation in financial services. It is recognised as essential for survival, but how good are the established companies at doing it? The author's firm ran a research project in 1996 among representatives of leading financial services organisations in order to explore what were the `drivers' and `enablers' of innovation, the barriers preventing it and the processes which fostered it.

UK financial services - short-changed on ideas?

Keith Lindsay, Abram Hawkes, examines innovation in UK financial services and asks why an industry which claims to be committed to innovation is so backward in coming forward

Keith Lindsay

In the past decade there have been a relatively small number of fundamental strategic changes in UK financial services. When changes are introduced, they are ground-breaking and radical – such as debit cards, electronic cash and direct distribution of services – but the industry is often perceived to be lacking in innovation.

In financial services, it is notoriously hard to protect any...

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