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A Systematic Literature Review Exploring The Barriers And Challenges To Open Innovation Within The Financial Service Industry, A.Omar Portillo-Dominguez, Peter Cantwell
A Systematic Literature Review Exploring The Barriers And Challenges To Open Innovation Within The Financial Service Industry, A.Omar Portillo-Dominguez, Peter Cantwell
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Open innovation is a common practice among nearly 80% of large firms, yet the exploration of innovation within financial services remains limited in existing literature. Similarly, while the potential benefits of innovative distributed ledger technology (DLT) are widely recognized, its adoption within the financial services industry has been sluggish. This systematic literature review aims to examine whether financial services firms engage in open innovation, particularly focusing on outside-in innovation over inside-out innovation, and to uncover potential barriers to DLT adoption at the industry level. Drawing from peer-reviewed journals between 2017 and 2022, the review synthesizes findings to address key questions. …