Abstract:
Technology in the banking industry plays a key role in driving
strategic business decisions. Technology acquisitions often do not
result in optimal technology utilisation as measured by the number
of innovations being logged, failure incidents in operations, and
customer feedback ratings. The study investigates how technology
management activities are carried out, with the emphasis on the
acquisition and learning activities. A research model containing the
elements of (i) technology acquisition effort, (ii) learning effort,
(iii) innovative capacity, (iv) technology management tools limiting
factors, and (v) technology optimisation was used to determine the
inter-relationships between the elements. The research followed a
mixed methods approach in which a quantitative study in the form
of a survey, followed by qualitative interviews, was used. The
research results confirmed the importance of the technology
management activities and the need for coupling such activities.
The study also identified shortcomings in terms of feedback loops
in the technology management lifecycles.
