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Title: The rise and success of the barcode: some lessons for financial services
Authors: Milne, Alistair
Keywords: Business standards
Data management
Regulatory data
Systemic risk assessment
Technological change
Issue Date: 2013
Publisher: Springer (© Palgrave Macmillan, a division of Macmillan Publishers Ltd 2013)
Citation: MILNE, A., 2013. The rise and success of the barcode: some lessons for financial services. Journal of Banking Regulation, 14 (3-4), pp.241-254
Abstract: This article critically examines the analogy between the barcode and the standardization of data and communication in financial services, recounting the history of the barcode and considering what lessons this offers for regulation and management of financial firms. The initial development and uptake of the barcode was slow, requiring a decade before barcode scanning at point of sale fully took off worldwide and longer still for full application in the global supply chain. This experience indicates that even substantial economic and business benefits do not ensure rapid adoption of efficiency enhancing technological innovation. This requires incentives for adoption and these can remain weak until a demonstrable business case for change emerges. Such a case may be difficult to make for similar standardization in financial services, especially if adoption is perceived to lower barriers to entry and increase competition. © 2013 Macmillan Publishers Ltd.
Description: This is a post-peer-review, pre-copyedit version of an article published in Journal of Banking Regulation. The definitive publisher-authenticated version is available online at: http://dx.doi.org/10.1057/jbr.2013.16
Version: Accepted for publication
DOI: 10.1057/jbr.2013.16
URI: https://dspace.lboro.ac.uk/2134/24357
Publisher Link: http://dx.doi.org/10.1057/jbr.2013.16
ISSN: 1745-6452
Appears in Collections:Published Articles (Business School)

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