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Added Value and Challenges of Industry-Academic Research Partnerships – The Example of the E-Finance Lab

In: Handbook on Information Technology in Finance

Author

Listed:
  • Wolfgang Koenig

    (Frankfurt University)

  • Stefan Blumenberg

    (Frankfurt University)

  • Sebastian Martin

    (Frankfurt University)

Abstract

The financial service industry is believed to be on the verge of a dramatic [r]evolution. A substantial redesign of its value chains aimed at reducing costs, providing more efficient and flexible services and enabling new products and revenue streams is imminent. But there seems to be no clear migration path or goal which can cast light on the question where the finance industry and its various players will be and should be in a decade from now. The imperative necessity for action taking has been recognized by practitioners as well as the academic world. This is why the E-Finance Lab (EFL) was founded in 2003 as a cooperation of the Universities Frankfurt and Darmstadt together with industry partners Accenture, Bearing- Point, Deutsche Bank, Deutsche Börse, Deutsche Postbank, FinanzIT, IBM, Microsoft, Siemens, T-Systems, as well as DAB bank and IS.Teledata. The mission of the EFL is the development of industrial methods for the impending change process of the financial service industry. Important challenges include the design of smart production infrastructures, the development and evaluation of advantageous sourcing strategies, and smart selling concepts to enable new revenue streams for financial service providers in the future. The overall goal is to contribute methods and views to the realignment of the financial supply chain.

Suggested Citation

  • Wolfgang Koenig & Stefan Blumenberg & Sebastian Martin, 2008. "Added Value and Challenges of Industry-Academic Research Partnerships – The Example of the E-Finance Lab," International Handbooks on Information Systems, in: Detlef Seese & Christof Weinhardt & Frank Schlottmann (ed.), Handbook on Information Technology in Finance, chapter 32, pages 773-786, Springer.
    • Handle: RePEc:spr:ihichp:978-3-540-49487-4_32
    DOI: 10.1007/978-3-540-49487-4_32
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