Impact Of It In The Danish Banking Industry, With Specific Illustrations From The Nordea Group And Lån & Spar Bank

OPEN ARCHIVE

Union Jack
Dannebrog

Impact Of It In The Danish Banking Industry, With Specific Illustrations From The Nordea Group And Lån & Spar Bank

Show simple item record

dc.contributor.author Bjørn-Andersen, Niels en_US
dc.contributor.author Viborg Andersen, Kim en_US
dc.contributor.author Holm Larsen, Michael en_US
dc.contributor.author Schou, Peter en_US
dc.date.accessioned 2009-02-04T10:23:48Z
dc.date.available 2009-02-04T10:23:48Z
dc.date.issued 2004-03-26T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/6483
dc.description.abstract Danish banks have traditionally been in the absolute forefront globally as regards the automation and introduction of IT since the mid 60’ies. But when the e-commerce opportunities emerged in the late 90’ies, the majority of the Danish banks resisted the development. They saw no reason to be the prime movers in cannibalising their own key competitive advantage, the 2.500+ retail-outlets (branches) placed on all the best locations on corners of the shopping streets1. However, once pure Internet banks were introduced in 1998 - 2000, all major banks (and the computing centres servicing the smaller banks) launched massive initiatives to bring the brick-and-mortar banks back into the driver seat using Internet banking. At the end of 2003 more than 30% of all Danish bank customers are using Internet. This development in the banking industry is illustrated using two cases. The first is one of the most ambitious attempts at creating a Nordic based large international financial service company, capable of spearheading the transition to the digital economy - the case of Nordea. This bank is in the midst of various transformation processes across the organisation due to several years of multiple cross boarder mergers and acquisitions, new composition of the group executive management, increasing thrives towards automation of business processes to reduce costs, and different innovations involving a change of the roles of value network partners. The other case is Lån & Spar Bank, which is one of the smaller Danish banks, who have its basic IT services done at a joint computing centre owned with many other smaller banks, but have its own IT development for strategic purposed done in-house in close collaboration with the business units. This bank has been in the forefornt in adopting new IT-solutions. This report consists of an analysis of the background for the development of the Danish banking sectors, the key processes in the Danish banking industry, the environmental and policy actors influencing the development, the e-commerce readiness in the Danish banking sector, the diffusion of e-commerce, and finally the impact on efficiency, industry structure and competition. The main results are that there are more Danish financial institutions having Internet technologies and Internet applications than in the other nine countries in the GEC survey. Furthermore, we suspect that they have had it for a longer period on average than found elsewhere in the sample. However, when we compare the figures in the GEC-survey on the ‘ Use of Internet for the different business processes’, and ‘On-line support’, the number of Danish financial institutions having Internet applications is not higher than in the other countries. en_US
dc.format.extent 28 s. en_US
dc.language eng en_US
dc.relation.ispartofseries Working paper;2004-04 en_US
dc.subject.other kep en_US
dc.title Impact Of It In The Danish Banking Industry, With Specific Illustrations From The Nordea Group And Lån & Spar Bank en_US
dc.type wp en_US
dc.accessionstatus modt04mar26 inrumo en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Informatik en_US
dc.contributor.departmentshort INF en_US
dc.contributor.departmentuk Department of Informatics en_US
dc.contributor.departmentukshort INF
dc.idnumber x645152799 en_US
dc.publisher.city København en_US
dc.publisher.year 2004 en_US


Creative Commons License This work is licensed under a Creative Commons License.

Files Size Format View
04-2004.pdf 805.5Kb PDF View/Open

This item appears in the following Collection(s)

Show simple item record