Title: Disruptive innovations and the challenges for banking

Authors: Anders Kjellman; Tom Björkroth; Taisto Kangas; Risto Tainio; Thomas Westerholm

Addresses: Anders Kjellman Consulting Ltd., Strandbacken 5, 21600 Pargas, Finland ' Faculty of Law, University of Turku, Caloniankuja 1, FI-20014, Turku, Finland ' Aalto University, Lapuankatu 2, 00100 Helsinki, Finland ' Aalto University, Lapuankatu 2, 00100 Helsinki, Finland ' Laboratory of Business Disruption Research, University of Turku, Rehtoripellonkatu 3, 20500 Turku, Finland

Abstract: In this article, we analyse the concepts of disruptive innovations, innovation platforms and potential ways forward for the banking industry in Europe. The choice of platform and place in the eco-system are strategic choices under a high degree of uncertainty. There is no quick fix, nor one size fits all banks, however, we find that banks need capable teams that are able to come up with viable solutions for the future, and the bank's platform.

Keywords: disruptive innovation; bank platforms; fintech; bank management.

DOI: 10.1504/IJFIB.2019.102308

International Journal of Financial Innovation in Banking, 2019 Vol.2 No.3, pp.232 - 249

Received: 04 Jun 2018
Accepted: 09 Jan 2019
Published online: 17 Sep 2019 *

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