Introducing existing financial services over new electronic channels

摘要

Innumerable cases and much research have been reported about the launching of new innovative products over existing distribution channels, where a misfire may kill the new product. Much less seems to be known about the introduction of existing products via new channels, regardless of the fact that a backfire here can kill the product both in the new and the old channels and leave an established firm without any business. Over the last two decades, banks have transferred their products from branch offices to new electronic fixed-line and mobile channels. This article will outline some findings about the Finnish banks' experience in managing the introduction of existing products via new channels. The main aim of this paper is to make recommendations for managing the move to new electronic channels.