MilneBarCodePaperVersionAcceptedfromWord_2013.pdf (1.12 MB)

The rise and success of the barcode: some lessons for financial services

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journal contribution
posted on 10.03.2017 by Alistair Milne
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.

History

School

  • Business and Economics

Department

  • Business

Published in

Journal of Banking Regulation

Volume

14

Issue

3-4

Pages

241 - 254

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

Publisher

Springer (© Palgrave Macmillan, a division of Macmillan Publishers Ltd 2013)

Version

AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Publication date

2013

Notes

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

ISSN

1745-6452

eISSN

1750-2071

Language

en

Exports