An analysis of the use of technology management activities for technology optimisation: A case in the banking industry

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.