Customer Information, Big Data Analytics, Innovation Competence and Sustainable Development: A Cross-cultural Study on Financial Institutions

This study investigates the value creation process in the application of customer information, big data analytics, and innovation in financial institutions in different cultural contexts. A grounded theory approach is adopted, and themes are developed from primary interview data. 30 interviews were conducted with managers in 15 financial institutions in the UK, China, Bangladesh, Jordan, and Nigeria. A grounded theory model is developed to link the factors that influence the adoption of customer information, bid data analytics and the value creation process through innovation. This study found that the development of big data analytics technology, increased market competition and various cultural characteristics and customer needs to provide conditions for the case institutions to improve innovation competence through cultural, organisational, process, technology, product and service innovations. the case institutions improve innovation competence through cultural, organisational, process, technology, product and service innovations. Financial institutions reduce risk increase return, and improve customer satisfaction, accessibility, responsible finance, and sustainable development. An adaptation, innovation and sustainable development theory and some implications are proposed for academics and practitioners.