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Expertise and InnovationInformation Technology Strategies in the Financial Services Sector$
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Robin Fincham, James Fleck, Rob Procter, Harry Scarbrough, Margaret Tierney, and Robin Williams

Print publication date: 1995

Print ISBN-13: 9780198289043

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289043.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 17 October 2019

Information Technology and Financial Services

Information Technology and Financial Services

(p.151) 7 Information Technology and Financial Services
Expertise and Innovation

Robin Fincham

James Fleck

Rob Procter

Harry Scarbrough

Margaret Tierney

Robin Williams

Oxford University Press

The historic links between financial services and information technology (IT) reveal very well the active role the sector has played as a source of innovation in commercial computing via the user-led mechanism. This chapter examines this relationship, together with the state of the art in IT and its applications in financial services. Major artefactual instrumentalities in the sector, like customer-service automation and decision support, are surveyed. As late as the 1970s, the majority of applications software in the financial sector was written in-house. Today, the range of packages continues to grow, demonstrating that the gap between products and requirements remains and necessitates the retention of in-house IT skills by organizations. This chapter traces the development of financial sector IT and considers the impact on the types of expertise organizations have had to deploy in order to make applications viable.

Keywords:   financial services, information technology, innovation, commercial computing, automation, decision support, software, expertise

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