Creating Value in Financial Services

by Melnick, Edward L.; Nayyer, Praveen R.; Pinedo, Michael L.; Seshadri, Sridhar

• ISBN13: 9780792385721
• ISBN10: 0792385721
• Format: Hardcover
• Copyright: 1999-12-01
• Publisher: Kluwer Academic Pub

Summary

Creating Value in Financial Services is a compilation of state-of-the-art views of leading academics and practitioners on how financial service firms can succeed in today's competitive environment. The book is based on two conferences held at New York University: the first, 'Creating Value in Financial Services', held in March 1997, and the second, 'Operations and Productivity in Financial Services', in April 1998. The book is essentially designed to be a compendium of leading edge thinking and practice in the management of financial services firms. There is no book today that has this focus. It contains ideas that can apply to other service industries. Topics addressed are increasingly important worldwide as the financial services industries consolidate and search for innovative new directions and ways to create value in a fiercely competitive environment.

Table of Contents

Foreword	xv
Larry Zicklin
Preface	xix
Creating Value in Financial Services	1	(22)
Edward L. Melnick
Praveen R. Nayyar
Michael L. Pinedo
Sridhar Seshadri
Section I: Customer Value Focused Strategies
The Changing Global Environment of Financial Service	23	(14)
Alexander Rinnooy Kan
Universal Banking: Does it Work?	37	(16)
David Rogers
Universal Banking: A Shareholder Value Perspective	53	(32)
Ingo Walter
Redefining Customer Relationships in the Age of the Ascendant Customer	85	(18)
Thomas L. Monahan III
Out of the Fog: Creating Value by Assembling and Managing a Portfolio of Services	103	(28)
Praveen R. Nayyar
Challenges of Product Delivery in Emerging Markets	131	(12)
Akshaya Bhargava
Modeling Services of Financial Institutions in Emerging Markets	143	(14)
Edward L. Melnick
Section II: Customer Value Focused Services
Creating Value: Evolution and Management of Financial Derivatives	157	(22)
John O. Matthews
Cathy A. Rusinko
Electronic Commerce and Financial Services: Going for Broke?	179	(16)
Andrew Hosking
Ajit Kambil
Amanda Lister
The Internet Channel Revolution: The Case of Charles Schwab	195	(24)
Sanjeev Dewan
Haim Mendelson
Lessons from Developing the Yield Book	219	(34)
Ernest R. Battifarano
Section III: Customer Value Focused Systems
Impending Revolution in Corporate Information Technology Departments	253	(14)
Kevin McGilloway
Financial Service Networks: Access, Cost Structure and Competition	267	(22)
Uday S. Karmarkar
The Potential for Virtual Work to Enhance Value in Financial Services Firms	289	(14)
Roger L.M. Dunbar
Raghu Garud
Designing Electronic Market Institutions for Bond Trading	303	(24)
Ming Fan
Jan Stallaert
Andrew B. Whinston
Staffing Challenges in Financial Services	327	(30)
Richard C. Larson
Edieal J. Pinker
Call Centers in Financial Services: Strategies, Technologies and Operations	357	(32)
Michael L. Pinedo
Sridhar Seshadri
J. George Shanthikumar
PruServ™: A Call Center Support System	389	(16)
John Alouisa
William Anderson
Richard Castro
Raymond Ennis
Jeffrey Gevarter
Russell Pandolfo
Section IV: Customer Value Focused Measures of Success
Process Improvement in Financial Services: A Focused Approach	405	(22)
Paresh D. Patel
How do Financial Services Stack Up? Findings from a Benchmarking Study of the US Financial Service Sector	427	(20)
Richard B. Chase
Aleda V. Roth
Chris Voss
Value Creation and Process Management: Evidence from Retail Banking	447	(14)
Frances X. Frei
Patrick T. Harker
Bank Productivity: Promises Unrealized	461	(14)
Wayne I. Cutler
Productivity in Service Industries: Implications of the Boskin Commission Report	475
Robert Solow