Reference Hub1
Innovation and Diversification Policies in the Banking Sector: The Case of the Urban@ Program

Innovation and Diversification Policies in the Banking Sector: The Case of the Urban@ Program

Francisco J. Liébana-Cabanillas, Francisco Muñoz-Leiva
ISBN13: 9781466643734|ISBN10: 1466643730|EISBN13: 9781466643741
DOI: 10.4018/978-1-4666-4373-4.ch015
Cite Chapter Cite Chapter

MLA

Liébana-Cabanillas, Francisco J., and Francisco Muñoz-Leiva. "Innovation and Diversification Policies in the Banking Sector: The Case of the Urban@ Program." Handbook of Research on Enterprise 2.0: Technological, Social, and Organizational Dimensions, edited by Maria Manuela Cruz-Cunha, et al., IGI Global, 2014, pp. 280-297. https://doi.org/10.4018/978-1-4666-4373-4.ch015

APA

Liébana-Cabanillas, F. J. & Muñoz-Leiva, F. (2014). Innovation and Diversification Policies in the Banking Sector: The Case of the Urban@ Program. In M. Cruz-Cunha, F. Moreira, & J. Varajão (Eds.), Handbook of Research on Enterprise 2.0: Technological, Social, and Organizational Dimensions (pp. 280-297). IGI Global. https://doi.org/10.4018/978-1-4666-4373-4.ch015

Chicago

Liébana-Cabanillas, Francisco J., and Francisco Muñoz-Leiva. "Innovation and Diversification Policies in the Banking Sector: The Case of the Urban@ Program." In Handbook of Research on Enterprise 2.0: Technological, Social, and Organizational Dimensions, edited by Maria Manuela Cruz-Cunha, Fernando Moreira, and João Varajão, 280-297. Hershey, PA: IGI Global, 2014. https://doi.org/10.4018/978-1-4666-4373-4.ch015

Export Reference

Mendeley
Favorite

Abstract

This chapter describes innovation and diversification policies (i + d) and analyzes the main drivers of innovation in financial institutions. In addition, recent examples of financial innovations and their effect on banking policies are discussed. Specifically, the Internet has been the key to enabling financial institutions to extend and optimize their business by improving the information and services they can offer to their customers and prospects. Due to innovations and changes, the banking sector now takes a new approach in the design of their offices (“bank branch 2.0”) and Websites as a way to innovate and diversify business. This chapter explains the innovative strategies of the Urban@ program at the Caja Rural of Granada (Granada, Spain). The history and consolidation of the program, the internal institutional response, and the competition within the banking sector are described and analyzed. In general, the main strategies and achievements of this initiative are: (1) active customer listening, resulting in increased confidence and commitment from the staff; (2) use of up-sale strategies (cross-selling, reduced dropout rates, increased membership advantages), which increase both customer loyalty and customer satisfaction; and 3) a modern, more positive perception of the entity among the general public.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.