New Strategies for Financial Services Firms The Life-Cycle-Solution
The German financial services market is in deep crisis. Deregulation and the new means of communication have fostered competition and made the market a transparent level playing field. Moreover, customers increasingly demand individualized solutions to th
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Information Age Economy
F. Rose The Economics, Concept, and Design of Information Intermediaries 1999, ISBN 3-7908-1168-8 S.Weber Information Technology in Supplier Network 2001, ISBN 3-7908-1395-8 K. Geihs, W. Konig and F. von Westarp (Eds.) Networks 2002, ISBN 3-7908-1449-0
F. von Westarp Modeling Software Markets 2003, ISBN 3-7908-0009-0
Dennis Kundisch
New Strategies for Financial Services Firms The Life-Cyc1e-Solution Approach
With 50 Figures and 10 Tables
Springer-V erlag Berlin Heidelberg GmbH
Dr. Dennis Kundisch Universitat Augsburg Lehrstuhl fiir Betriebswirtschaftslehre, Wirtschaftsinformatik & Financial Engineering Kernkompetenzzentrum IT & Finanzdienstleistungen UniversitatsstraBe 16 86135 Augsburg, Germany [email protected]
ISBN 978-3-7908-0066-1 ISBN 978-3-642-57412-2 (eBook) DOI 10.1007/978-3-642-57412-2 Cataloging-in-Publication Data applied for A catalog record for this book is available from the Library of Congress. Bibliographic information published by Die Deutsche Bibliothek Die Deutsche Bibliothek lists this publication in the Deutsche Nationalbibliografie; detailed bibliographic data is available in the Internet at http://dnb.ddb.de. This work is subject to copyright. AII rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of iIIustrations, , recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag Berlin Heidelberg GmbH. Violations are liable for prosecution under the German Copyright Law. http://www.springer.de © Springer-Verlag Berlin Heidelberg 2003 Originally published by Physica-Verlag in 2003 The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: Erich Kirchner, Heidelberg SPIN 10927304
88/3130 - 5 4 3 2 1 0- Printed on acid-free paper
This book is devoted to my family and particularly to my dear nieces Annika and Katharina.
Foreword
The theme of this book "New strategies for financial services providers" is an equally relevant and important topic in science and practice. In the (post) information age economy, the German financial services market and many big financial services providers are in a deep crisis. Increasing competition due to deregulation and improved transparency through new means of communication on the one hand, and empowered customers demanding individualized solutions for their financial problems e.g. because of new working circumstances, increase the pressure on the market participants to alter their strategies according to these new challenges. Many firms have
