Competition and cooperation in partnership arrangements in financial services

Authored by: Sandeep Singh , Joon Yong Seo

The Routledge Companion to Financial Services Marketing

Print publication date:  December  2014
Online publication date:  December  2014

Print ISBN: 9780415829144
eBook ISBN: 9780203517390
Adobe ISBN: 9781134095551


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The importance of collaborative relationships in the financial services industry is widely recognized. Environmental changes, such as globalization of the finance industry, increasing capital movements between countries, financial regulation, and technological advances in transaction processing (Lambkin and Muzellec 2008) have led to growing competition and difficulties in product differentiation. As a result, firms face increasing pressure to offer superior customer value. Value enabling activities can involve outright institutional purchase of a service or can be collaboration (partnership) with a third party that becomes an integrated component of an offering. Additionally, distribution channels have become a major strategic battle ground for financial institutions. This is probably because collaborative relationships with multiple financial intermediaries provide access to multiple segments. Serving new customers or providing existing customers with a wider range of financial products often requires new partnerships with new channels (Easingwood and Storey 1996).

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