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This book follows the findings of the book Open Innovation in the Financial Services, published in 2009 by Springer, grounded on my doctoral research with the aim to explore how banks can gain competitive advantage with the open innovation approach and how this can be used for realizing strategic advantage. At that time, collaborative and open approaches to service innovation were considered by some industries as business trends but not covered in the literature. One critique, though, was the almost exclusive focus on industrial research. I remember well, when my supervisor professor Ken Starkey asked me, after a status meeting, why I don’t examine the paper by Henry Chesbrough “The era of open innovation”, the first article on that topic, published in the Sloan Management Review in Spring 2003. As his studies came from manufacturing and technology firms, I wanted to test these concepts for the services. As a result, I shifted the focus of my research towards open innovation in the banking industry and applied interpretivism as philosophical assumption with a theory to be tested with empirical data. I was granted a scholarship award for an excellent research idea from the business school, in addition to funding, received from the Economic and Social Research Council of the United Kingdom. After completion of my thesis, The Transition to Open Innovation: A Case Study in the Banking Industry in 2005, I acknowledged that management research should be practice oriented and appropriate for managers or about managers and social organisations. Combined with my professional experiences, gained as a banker, I transformed my thesis into a more practice-oriented book, published in 2009. I considered open innovation as the best way for creating value for operational excellence and profitable growth in the financial services.