ICT the Nordic Way and European Retail Banking

Abstract

Part 7: IT in BankingInternational audienceThis paper discusses the world industry of savings banks, a genuine world collaborative consortium, through which, from the 1950s, the International Savings Banks Institute (nowadays, the World Savings Banks Institute and European Savings Banks Group) was highly active in introducing ICT to retail banking. In this environment, Nordic savings banks, Sweden, Norway, Finland and Denmark, their Central Savings Banks and their industry associations occupied a separate place in European movements around developments of computerization and automation in retail financial services. The synergies in Nordic countries were superior to the rest of Europe and collaboration was intense. This paper highlights the leadership and the influence that the ICT development models of Nordic savings banks had on their European retail banking associates

Ict Management for Green Competitiveness in the Banking Sector

“…Enhanced cooperation between regional banking groups with FinTech companies can improve the competitiveness of the bank-ICT for loans. Maixé-Alté mentioned in a study that Retail banking has been significantly affected in the context of developments in computer technology (Maixé-Altés, 2015).…”

“…In contrast with the Nordic model, the US savings banks are characterized by large companies with few and large branches not far away from the headquarters with the various branches distributed across a wide geographical area. It was viewed in Sweden and Denmark as a barrier against isolated national solutions to the need to build on the online systems and high development cost, based on the equipment available, especially the counters (Maixé-Altés, 2015). The position of third-generation computers was very significant because they opened up a real-time online development area that is required for institutions like several European savings banks that covered extensive branch networks.…”

Between Novelty and Fashion: Risk Management and the Adoption of Computers in Retail Banking

“…There is a growing body of systematic studies discussing the impact and use of information technology in business and, particularly, financial institutions in Western Europe and North America from an historical perspective. There are several strands to these contributions, dating from the early introduction of mechanical contraptions and computers (Berkeley, 1949;Booth, 2001;Campbell-Kelly, 1989;Campbell-Kelly, 1992, 1998Ellis, 1931;Osborn, 1954;Rouse, 1930;Wardley, 2000) to more recent efforts which include, among others, conceptual discussions (Bátiz-Lazo and Wood, 2002;Coombs et al, 1992;Lamoreaux et al, 2003;Langlois, 2003), the deployment of specific devices (Bátiz-Lazo, 2009;McKenney and Fisher, 1993;McKenney et al, 1997) and applications (Haigh, 2001(Haigh, , 2006Pardo-Guerra, 2011;Stearns, 2011), single company and industry case studies (Bátiz-Lazo and Wardley, 2007;Billings and Booth, 2011;Booth, 2001Booth, , 2007Martin, 2012;Wardley, 2000;Wood and Bátiz-Lazo, 1997) as well as the nature of organizational groups (Billings, 2007;Maixé-Altés, 2014;Scott and Zachariadis, 2014) and specific practices (Poon, 2011).…”