Case of SK Telecom's Financial Services

Case of SK Telecom's Financial Services

Ubiquitous Computing-Driven Business Models: A Case of SK Telecom's Financial Services Authors: Bongsik Shin; Ho Geun Lee DOI: 10.1080/10196780500034871 Publication Frequency: 4 issues per year Published in: Electronic Markets, Volume 15, Issue 1 February 2005 , pages 4 - 12 Subject: E-business & E-commerce; Number of References: 27 Formats available: HTML (English) : PDF (English) The circumstances under which this title is published have changed: Reason for change: Change of Publisher Now published by: Springer Date of change: 2009 Abstract We expect that one of the earliest and most successful applications of ubiquitous computing will evolve around financial services. From the mobile financial services offered by Korea's SK Telecom (SKT), we can catch a glimpse of emerging value networking many telcos may ultimately adopt not only to survive competition but also to sustain their long-term growth. With the marketplace for mobile communications service approaching saturation, SKT has been looking into associating its infrastructure to content provision, platform/system integration and application service provision to open up new business opportunities. It understood that the fusion between its mobile network and financial services could result in value networks benefiting both service providers and service users. MONETA, as an electronic payment platform, became the cornerstone of SKT's initiative. However, due to its disruptive nature on existing business models, the company had to face significant technical and non-technical challenges. Keywords: ubiquitous computing; pervasive computing; value networks; business models; business convergence