Service innovations in mobile banking for creating value for the poor in developing countries

Mobile banking is a service innovation in the banking industry. Extant research has demonstrated that the goal of any service innovation is to create value for stakeholders including consumers. Despite the consensus that information and communication technologies (ICTs) can be leveraged to deliver financial services to the poor, few studies have examined the process through which mobile banking service providers create value for consumers. . Building on concepts from service-dominant logic and service science, this paper posits that the delivery of such mobile banking services requires a repertoire of information and communication technology (ICT) as well as non-ICT resources. Specifically, Cashpor a mobile banking service provider, that provides mobile banking financial services to rural females is examined. The research traces the implementation of key service innovations by configurations of three resources— people, technology, and information, and three mechanisms – knowledge integration, technology integration, and governance – through which value-creating benefits of social, economic, and psychological benefits are achieved.