The article presents a service engineering methodology supporting the development and continuous improvement of information services in real-time information environments. Traditional techniques and methodologies such as New Product Development and Adaptive Software Development are evaluated, combined and enrichined because information services can neither be classified nor developed using only thesec oncepts. The methodology is based upon the financial service environment. It is specific enough to be applicable in the field of finance and general enough to be applied broadly in information services development.

The authors created a theoretical concept based on a financial trading case study which involves ubiquitous information. Starting from this case study they broadened and adapted the methodology to the wide field of general information electronic services.