The service sector in the United States constitutes approximately 60% of GNP and over 70% of employment; the situation in Japan and Western Europe is similar. In addition, this sector consumes over 75% of all information technology investments. However, this investment in the largest component of the economy has not produced large, measurable improvements in productivity (causing some authors to dub this investment the “service sector sinkhole”). While productivity and quality in manufacturing remain a major concern for academia, industry, and government, the sheer size of and major productivity issues in the service sector demand attention.

The purpose of the Fishman-Davidson Center for the Study of the Service Sector at The Wharton School is to attack the above mentioned issues through a truly interdisciplinary approach. Founded in 1984, the Center is the only organization of its kind which is devoted to the full range of issues facing the service sector. The conference from which the current volume arose is an excellent example of the type of interdisciplinary approach which must be pursued if the “sinkhole” is to be avoided. As financial institutions move into a new era defined by both technological and regulatory advances, the best and brightest from finance, management science, computer science, and other fields are needed to improve the productivity of this sector as well as the ultimate value which is provided to the consumer.