Self-Service Banking: Value Creation Models and Information Exchange

Abstract

This paper argues that most banks have failed to exploit the potential of self-service banking because they base their service design on an incomplete business model for self-service.A framework for evaluation of self-service banking concepts is developed on the basis of Stabell and Fjeldstad's three value configurations.The value network and the value shop are consistent with self-service banking while the value chain is inappropriate.The impact of the value configurations on information exchange and self-service functionality is discussed, and a framework for design of such services proposed.Current self-service banking practices are compared to the framework, and it is concluded that current practice matches the concept of a value network and not the value shop.However, current practices are only a partial implementation of a value network-based self-service banking concept.

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