Learning during developing and implementing new bank offerings

Purpose – Knowledge of the management issues for developing new bank offerings efficiently is limited. Furthermore, recent research suggests that organisational learning can contribute greatly to the success of innovation projects. The aims of this paper are to provide a detailed description of the development process of a new financial product and to identify learning actions that may contribute to its effectiveness. Design/methodology/approach – Reports findings from a qualitative, longitudinal case study of a well‐known French bank. Findings – The results revealed an informal development process consisting of a sequence of issues to solve and decisions to make. Research limitations/implications – Though observations fit with the theoretical model, the findings cannot be generalized due to the use of a qualitative methodology. Thus, selecting a development project that brings variance to the scope and degree of innovativeness could enrich the observed learning mechanisms. Second, as services are very heterogeneous, further research should be done on the development processes of different new services, for example standardised versus customised. Third, mechanisms of adoption or avoidance of learning procedures remain to be explored extensively. Understanding the reasons of choice and adoption of learning strategies according to the environment and nature of the project could lead to further managerial recommendations. Practical implications – Implications for banks to encourage learning during innovation are discussed and several opportunities for further research are suggested. Originality/value – An informal development process is revealed, consisting of a sequence of issues to solve and decisions to make. Multiple learning actions and strategies are identified that enhance process effectiveness and efficiency.