Amidst the dynamic landscape of financial services, marked by advancements in Electronic Data Interchange (EDI) and evolving banking legislation, what new opportunities emerge? This research evaluates the viability of introducing a novel service for handling cross-border payments, a pivotal area in today's global economy. Undertaken for a major multinational bank, the study focuses on gathering insights from firms within the European Community. The methodology employs a blend of a PC-based judgmental modeling package and in-depth interviews to dissect the needs of both originators and vendors. Key findings offer a nuanced understanding of requirements, paving the way for effective market segmentation. Despite the relatively small sample size, the research provides detailed findings that are valuable for developing a targeted approach to market segmentation for this specialized service. The implications extend to refining financial service offerings and enhancing cross-border transaction efficiency, critical components for multinational banking operations.
Published in the International Journal of Service Industry Management, this paper aligns with the journal's focus on innovative service solutions. By exploring the potential of a new cross-border payment service, the study contributes to the journal's theme of leveraging technology to improve service offerings in the financial sector. The paper’s citations within the broader management literature underscore its significance.