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Title Financial Services Innovation: Opportunities for Transformation Through Facial Recognition and Digital Wallet Patents
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Publication Date
Degree PhD
Discipline/Department Leadership and Change
Degree Level doctoral
University/Publisher Antioch University
Abstract Bringing innovation to the marketplace for new products and services involves creativity, a culture in which change flourishes, and leadership that thrives on transformation and complexity. This study explored the potential for market disruption or change based on innovations involving patents granted to nonfinancial services organizations that could affect financial services, specifically consumer or retail bank products. It involved analyzing documents related to recently granted patents and completing a mixed methods survey integrating the Delphi research technique. This method required multiple iterations of a survey presented to expert panelists or industry thought leaders to attempt to gain consensus ("Consensus", 2011) or general agreement by the group (Tersine & Riggs, 1976). With this research method, the goal is to gain an understanding of initial individual perspectives. Through an iterative process, then determine if, as a group, they can move toward a common vision of what is likely to happen after viewing other's perspectives. This research was specific to two innovations for which patents have been granted: facial recognition and digital wallets. Patents can provide insights into potential new developments planned by organizations. In some cases, patents can provide insights into innovation, potential threats, opportunities, or disruptions that could change the way a market operates. The goal of this research was to select two recent patents from many that have been granted, develop theoretical insights, and, through a mixed methods survey integrating the Delphi methodology, identify when or if these patents could have an impact on financial services. This research brought together thought leaders in an anonymous, collaborative approach to assess considerations and provide their perspective on these changes. This study served to help leaders drive innovation in financial services organizations and to understand how others perceive these innovations. The electronic version of this Dissertation is at OhioLink ETD Center, www.etd.ohiolink.edu.
Subjects/Keywords Entrepreneurship; Spirituality; Systems Design; Technology; Information Technology; Management; Patent Law; Banking; Intellectual Property; Marketing; Organizational Behavior; Business Administration; Business Community; Organization Theory; Authentication; Banking; Delphi; Digital Wallets; Electronic Wallets; Facial Recognition; Financial Services Transformation; Innovation; Leadership; Mobile Banking; Mobile Commerce; Mobile Wallets; Patents; Product Development; Strategy
Contributors Kusy, Mitchell (Committee Chair)
Language en
Rights unrestricted ; This thesis or dissertation is protected by copyright: all rights reserved. It may not be copied or redistributed beyond the terms of applicable copyright laws.
Country of Publication us
Format application/pdf
Record ID oai:etd.ohiolink.edu:antioch1370778739
Repository ohiolink
Date Retrieved
Date Indexed 2016-12-22
Grantor Antioch University

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…a few. Innovation leadership may require the use of any of these theories at any time, or the leader may need to incorporate knowledge from various theories. The Center for Creative Leadership noted that leaders need to create an “organizational

…share. Innovation offers new growth opportunities. It may include developing new value creation, new customer experiences, new markets, or focusing on new top line revenues that could take the company to the next level. Organizational challenges include…

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