Innovation-related knowledge from customers for new financial services: A conceptual framework

• Main Authors: Dieter De Smet, Anne-Laure Mention, Marko Torkkeli
• Format: Article
• Language: English
• Published: Universidade do Porto, Faculdade de Engenharia (FEUP) 2013-12-01
• Series: Journal of Innovation Management
• Subjects: absorptive capacity; co-creation; customer involvement; new financial service development
• Online Access: https://journalsojs3.fe.up.pt/index.php/jim/article/view/236

Customers are reported to be providers of innovation-related knowledge for the development of new services. In order to benefit from this source of innovation-related knowledge, a company requires the organizational capability to identify and use it, denoted as its absorptive capacity. This research provides a conceptual framework for the co-creation of new financial services, which is driven by the underlying organizational learning mechanisms of a company’s absorptive capacity. The context of financial services, which are characterized as being knowledge-intensive, should provide an interesting area of research for testing this conceptual framework.