University of Oulu

Lähteenmäki, I., Nätti, S., & Saraniemi, S. (2022). Digitalization-enabled evolution of customer value creation: An executive view in financial services. Journal of Business Research, 146, 504–517.

Digitalization-enabled evolution of customer value creation : an executive view in financial services

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Author: Lähteenmäki, Ilkka1; Nätti, Satu2; Saraniemi, Saila2
Organizations: 1Hanken School of Economics, Helsinki, Finland
2University of Oulu Business School, Unit of Marketing, Management and International Business, PO Box 4600, 90014 University of Oulu, Finland
Format: article
Version: published version
Access: open
Online Access: PDF Full Text (PDF, 3 MB)
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Language: English
Published: Elsevier, 2022
Publish Date: 2022-09-12


Digitalization and related transformation in services is disrupting existing businesses and changing the positions and roles of incumbent and new players in the industry, as well as customers. This study aims to create an understanding of how digitalization has driven change in customer value creation, and how companies can enhance customers’ digital value creation in the present situation. For this purpose, we conduct a qualitative inquiry and use inductive logic with rich data from the represented industry — the financial sector — which enables us to detect the evolution of value creation during the last thirty years from an executive perspective. Our contribution is based on defining change processes involved in the evolution of customer value creation due to digitalization and revealing its microfoundations.

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Series: Journal of business research
ISSN: 0148-2963
ISSN-E: 1873-7978
ISSN-L: 0148-2963
Volume: 146
Pages: 504 - 517
DOI: 10.1016/j.jbusres.2022.04.002
Type of Publication: A1 Journal article – refereed
Field of Science: 512 Business and management
Funding: We thank two anonymous reviewers and associate editor, Prof. Hean Tat Keh, for their constructive feedback and valuable comments, which remarkably improved our study. Data for this study were collected in several research projects over the years. We therefore thank all our research partners who have participated in data collection during these projects, including Dr Katri Kallio, Mikko Riikkinen MSc, and Dr Kaisa Still, in the Redefining Digital Opportunities project (2015–2017) funded by Business Finland, and Professors Maria Holmlund and Tore Strandvik from Hanken School of Economics.
Copyright information: © 2022 The Author(s). This is an open access article under the CC BY license (