Trust in the New Economy - The Case of Finnish Banks

Abstract

This report elaborates the role of trust and information security in the new economy. The research is focused on three banks in Finland as banking illustrates a sector where trust and information security are critical elements of business. The research project is closely linked to a seminar on "The Economics of Trust" organised by the Ministry of Trade and Industry and the Ministry of Transport and Communications of Finland in cooperation with the OECD in May 2004. The major part of this work is a case study about three banks operating in Finland. The purpose is to analyse the effect that the ICT has had on the processes of these banks since the beginning of 1990s and analyse the mechanisms and processes of these banks from the perspective of trust.