Short answer

When designing or updating e-banking solutions, ensure that the chosen technologies directly support and are supported by the functional and non-functional requirements of the bank, its customers, and its suppliers.

Field: Innovation & Markets
Source: The Journal of Internet Banking and Commerce (2015)
Method: Literature analysis and conceptual modelling
Evidence: Moderate effect

Successful e-banking systems require a bidirectional alignment between functional and non-functional requirements (of banks, customers, and suppliers) and their respective technological capabilities. This innovation & markets research insight is drawn from a 2015 study published in The Journal of Internet Banking and Commerce. Using Literature analysis and conceptual modelling, researchers explored how this design variable affects real-world outcomes. The key design takeaway: When designing or updating e-banking solutions, ensure that the chosen technologies directly support and are supported by the functional and non-functional requirements of the bank, its customers, and its suppliers.

Study

Innovation & MarketsHigh ImpactModerate effect

E-banking models must align with evolving technological capabilities for market success.

Successful e-banking systems require a bidirectional alignment between functional and non-functional requirements (of banks, customers, and suppliers) and their respective technological capabilities.

The Journal of Internet Banking and Commerce · 2015

Key Findings

01E-banking models need to consider both functional and non-functional requirements from multiple stakeholders (banks, customers, suppliers).
02A bidirectional fit between requirements and technological capabilities is crucial for effective e-banking system implementation.
03Technological advancements necessitate continuous adaptation of e-banking strategies.

Application

Design takeaway

How to apply

Before launching a new e-banking feature or platform, map out the specific functional and non-functional requirements for the bank, target customer segments, and any third-party suppliers. Then, assess the technological capabilities of each to ensure a strong, bidirectional fit.

Project actions

01When researching a new technology for a design project, consider how it fits with existing systems and user capabilities.
02Think about the 'bidirectional fit' – does the technology enable the requirements, and do the requirements drive the need for this technology?

Method & Evidence

AimHow can e-banking models be mapped to emerging technologies to ensure a strategic fit between requirements and capabilities?

MethodLiterature analysis and conceptual modelling

ProcedureThe study analyzed existing e-banking models and literature to identify key requirements for both banks and customers. A five-domain model was proposed, encompassing bank and customer functional/non-functional requirements, and the technological capabilities of banks, customers, and suppliers. The research then focused on establishing a bidirectional fit between these requirements and capabilities, mapping e-banking systems to current technologies.

ContextFinancial services, e-banking

Variables

IVE-banking models and technological advancements

DVAlignment of requirements with technological capabilities

CVFunctional and non-functional requirements of banks, customers, and suppliers

Strengths & Limitations

Strengths

+Provides a structured framework for analyzing e-banking systems.
+Emphasizes the interconnectedness of requirements and capabilities.

Limitations

This study is theoretical; real-world implementation might reveal unforeseen challenges in achieving the 'bidirectional fit'.

Reliability & validity

The study's reliability is based on literature synthesis, and its validity is conceptual, proposing a model rather than testing it empirically.

Think critically

To what extent can a 'perfect' bidirectional fit be achieved in practice, given the constant flux of technology and user adoption rates?

Design Principles

"Technological alignment: Ensure that the technological capabilities of a system are in a bidirectional fit with the functional and non-functional requirements of all relevant stakeholders."

In the rapidly evolving digital landscape, financial institutions must continuously assess and adapt their e-banking strategies. Failing to match operational models with current and future technological capacities can lead to a competitive disadvantage, unmet customer expectations, and inefficient service delivery.

What This Means for Your Design

To make online banking work well, you need to make sure the technology used matches what the bank needs, what customers can do, and what suppliers can provide.

How to use in your project

1.Use this research to justify the selection of specific technologies for your design project, demonstrating how they meet identified requirements.
2.Discuss the importance of stakeholder technological capabilities when evaluating design choices.

Add to My Project

Quick Cite

Paragraph starter

The research by Romi (2015) highlights the critical need for a 'bidirectional fit' between e-banking requirements and technological capabilities. This principle suggests that any new technological solution, such as [mention your technology], must not only meet the functional and non-functional needs of the bank and its customers but also be supported by the existing technological infrastructure and user competencies.

Source

The Journal of Internet Banking and Commerce

Mapping E-banking Models to New Technologies

journal · 2015

View source

Questions About This Research

What does the research say about e-banking models must align with evolving technological capabilities for market success?: When designing or updating e-banking solutions, ensure that the chosen technologies directly support and are supported by the functional and non-functional requirements of the bank, its customers, and its suppliers. Evidence: The Journal of Internet Banking and Commerce (2015).
Why does "E-banking models must align with evolving technological capabilities for market success." matter for design?: In the rapidly evolving digital landscape, financial institutions must continuously assess and adapt their e-banking strategies. Failing to match operational models with current and future technological capacities can lead to a competitive disadvantage, unmet customer expectations, and inefficient service delivery.
How can designers apply this research?: When designing or updating e-banking solutions, ensure that the chosen technologies directly support and are supported by the functional and non-functional requirements of the bank, its customers, and its suppliers.
What were the main findings?: E-banking models need to consider both functional and non-functional requirements from multiple stakeholders (banks, customers, suppliers).. A bidirectional fit between requirements and technological capabilities is crucial for effective e-banking system implementation.. Technological advancements necessitate continuous adaptation of e-banking strategies.
What research method was used?: Literature analysis and conceptual modelling.
How strong is the evidence?: Evidence strength is rated Moderate effect, based on a 2015 journal from The Journal of Internet Banking and Commerce.
What should I do differently in my next project?: Before launching a new e-banking feature or platform, map out the specific functional and non-functional requirements for the bank, target customer segments, and any third-party suppliers. Then, assess the technological capabilities of each to ensure a strong, bidirectional fit.
What are the limitations?: The study is based on a literature review and conceptual modelling, lacking empirical validation of the proposed model in real-world scenarios.