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- W2783607576 abstract "Technological innovation combined with entrepreneurial mindset can transform industry structuresand incumbent businesses. We focus on the financial services industry, where the phenomenon ofFinTech is shaking the established, traditional players and according to many experts is able to totallytransform this business sector. A proven method that allows incumbent companies to sense efficientlytheir business environment and utilize other stakeholders in order to become agile to such changes isthe utilization of open innovation. The open innovation mechanism helps incumbent firms to work witha group of talents or entrepreneurial teams or startups to develop applications and new digital businessactivities in order to achieve digital transformation.Through an open innovation case study, this paper tries to provide evidence of the benefits and challengesraised by the digital transformation in the well-established sector of financial services. Participatingactively as organizers and facilitators of the open innovation initiative helped us obtain exposureto incumbent companies and startups at a level of detail required for achieving a deep understandingon all important aspects when integrating digital technologies with the established way ofdoing work in the financial sector." @default.
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- W2783607576 date "2017-01-01" @default.
- W2783607576 modified "2023-09-23" @default.
- W2783607576 title "The Impact Of Digital Transformation In The Financial Services Industry: Insights From An Open Innovation Initiative In Fintech In Greece" @default.
- W2783607576 hasPublicationYear "2017" @default.
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