This book presents a framework for introducing new customer-oriented retail financial services that would help banks to achieve market leadership and win the innovation race. This is attained by identifying the factors that affect customers’ decisions to buy new retail banking loan and saving services through an empirical study in the Egyptian market. Then, those factors are incorporated into a systematic comprehensive new service development process. Results reveal that when buying new retail financial services, customers consider the political, legal, and economic environmental conditions, the offering bank’s risk and relationship convenience, and finally the service conditions and features. The author presents a model to directly incorporate those factors into the predevelopment activities of the New Service Development process which establish the service concept and set the stage for the development and launch activities.

The Author: Hadia H. Abdel Aziz obtained both her B.A. and MBA degrees from the American University in Cairo. She worked for nine years in the banking field where she ended up as a corporate banking manager in one of the Multinational Banks. Since 2003, she has been an assistant lecturer of Management in the German University in Cairo. Her main area of research is innovation management in service organizations.