Dennis Kundisch Knihy

This book constitutes the proceedings of the 4th International Workshop on Enterprise Applications and Services in the Finance Industry, FinanceCom2008, held in Paris, France, on December 13, 2008. The workshop spans multiple disciplines, including technical, economic, sociological and behavioral sciences. The guiding theme of this workshop was concerned with innovations in the financial services industry, driven by either new business models or changed regulations. The nine presented papers and the keynote speech were carefully reviewed and selected from numerous submissions. The topics covered are financial markets and customers, service-oriented architectures, and regulation and compliance.

The book addresses a critical theme relevant to both science and practice: the evolving strategies for financial services providers in the (post) information age economy. The German financial services market, alongside major providers, faces a deep crisis marked by intensified competition from deregulation and increased transparency through modern communication. This environment has empowered customers, who now demand personalized financial solutions due to changing work circumstances, thereby pressuring market participants to adapt their strategies. Many firms have responded defensively, opting for mergers to achieve scale effects—a risky move given recent trends—or employing "me-too-strategies" that fail to create sustainable competitive advantages. Dr. Kundisch conducts a thorough analysis of emerging mega-trends, particularly in information and IT-driven markets, to propose a new counter-cyclical strategy. This strategy leverages IT to enhance customer relationships and emphasizes tailored solutions when economically viable. Importantly, the author goes beyond mere strategy development by introducing two significant concepts aimed at transforming this vision into actionable reality. This approach sets his work apart from others that remain at a more abstract strategic level, offering practical insights for financial service providers navigating today's challenges.