Financial Service Innovation Process And Model Study

Innovation is regarded as an important source for financial company to retain sustained competitive advantage, and innovation in financial service, for a long time, is the focus of the theory research. Study of how of realize financial service innovation in micro-aspect is seldom seen, however, based on the current status of the financial service innovation, the author tries to discuss something about financial innovation from its process and mechanism, as well as its pattern, and do some contribution to promote the innovation of the financial companies.As the base of the entire research, the basic meaning of the financial service innovation is studied, and the three key factors of project innovation in financial service is proposed: conception development, system development and process development. The model of the innovation process is brought forward from two dimensions of innovation phase and innovation participator. Otherwise, through the comparing of service innovation and technology innovation, the characteristic of the innovation process is analyzed, and two cases is given to support the above issue.Afterwards the inner mechanism of the innovation process is discussed. Start from the normal innovation process in knowledge-intensive service industry, as well as the consideration of the knowledge transform in the three stages of financial project innovation, the point that the essence of the financial project innovation is knowledge transfer and client relationship development is proposed. Experimental research is taken focusing on the influencing factors of the innovation process. Five influencing factors of innovation process is abstracted, which influence the performance of the project innovation through the process of the project innovation. The assumption in the thesis is proved by the result of the statistic analysis, and give an example for the financial company to carry out project innovation.Based on above discussion, innovation pattern under different dominator is studied. Innovation of financial service project is a complex process which involves a great amount of interaction, the differences of the knowledge and the client relationship development will surely exist, because of the different roles of the dominator in different projects. Thus, project innovation in financial service is split into three patterns based on the different dominator: technology supplier dominating -mode, financial company dominating-mode and client dominating-mode, among which client dominating-mode will be much more adopted by financial company in future.At the end of the thesis, some suggestions are proposed from four different aspects, that is strategic layer, organization layer, technology layer and employment layer. The summary is given, as well as the research prospect of the future.