A Hybrid MCDM Model for Evaluating Open Banking Business Partners

Alexander Kuan Daiy, Kao-Yi Shen, Jim-Yuh Huang and Tom Meng-Yen Lin
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Alexander Kuan Daiy: Department of Business Administration, National Taiwan University of Science and Technology, Taipei 106335, Taiwan
Kao-Yi Shen: Department of Banking & Finance, Chinese Culture University, Taipei 11114, Taiwan
Jim-Yuh Huang: IEMBA Program, Graduate School of Business, National Taipei University, New Taipei City 23741, Taiwan
Tom Meng-Yen Lin: Department of Business Administration, National Taiwan University of Science and Technology, Taipei 106335, Taiwan

Mathematics, 2021, vol. 9, issue 6, 1-19

Abstract: Open banking (OB) is an emerging business field in the financial sector, which relies on intensive collaboration between banks and non-banking service providers. However, how to evaluate OB business partners from multiple perspectives for banks is underexplored. Therefore, this study proposed a hybrid decision model with supports from seasoned domain experts. This study also adopts a domestic bank from Taiwan and four non-banking service providers to illustrate the hybrid approach with the confidence-weighted fuzzy assessment technique. The proposed model might be the first attempt to explore the OB adoption strategy by the novel approach. However, its limitations are the presumed independent relationship among the factors of this hybrid model. Additionally, the results hinge upon domain experts’ knowledge. In practice, the research findings identify the relative importance of banks’ crucial factors to select OB strategic partners, which provide managerial insights and valuable guidance for the banking sector.

Keywords: open banking (OB); financial technology (FinTech); multiple criteria decision-making (MCDM); best-worst method (BWM); fuzzy set theory (FST) (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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