The development and application of information system driven value creation in Indian financial services sector

Abstract

Assessing IS/IT systems value creation is a prerequisite for organisations adopting such systems. While the focal point of connected research is predominantly on instruments, models, and methodologies, only moderate attention has been given to understand and improve the value realisation process of IS. We adopted the DeLone and McLean model of IS success for the design of a value realisation model of IS in the financial services domain. While this model has been originally contrived for the area of information systems, it basically conquers the process of value realisation. In executing so, it is not only well-founded but its practical application can been broadened to other areas too. Hence, this paper presents a re-specification of DeLone and McLean's IS success model as a value creation model, examining it empirically in the context of financial services. A conceptual framework is proposed from a comprehensive review of IS success and value creation literature that evaluates IS success and value. Six variables are employed to measure IS system success and value in financial services industries. This conceptual FS-IS value creation model is tested and validated using data collected from banking and non-banking Indian financial companies. Primary contributions of the study include a new financial services information system success value model and a validated rating scale to measure information system constructs and performance for use by banking and non-banking companies.