The dichotomy of inclusiveness and vulnerability as a consequence of banking platform development

Piotr Łasak and Sławomir Wyciślak

Research in International Business and Finance, 2024, vol. 72, issue PB

Abstract: The processes of digitalization transform the current banking sectors. Digitalization and the increasing role of FinTech are driving the platformization of banking services, affecting the participants involved in their development and operation. This article examines the relationship between capturing value by different banking platforms' participants and the process of their inclusivity and associated vulnerability. The conflict of basic goals is analyzed through the lens of Paradox Theory. Our contribution is a theoretical model that helps understand how the banking platform's inclusiveness leads to value co-creation while introducing vulnerabilities. The governance structure is essential for the context of value co-creation in banking platforms. The model of governance defines the relations between different platform co-creators and their inclusiveness in a particular model. This research refers to the European Union financial market. The motivation for this focus is the regulatory solutions, embracing open banking and open finance. Understanding these dynamics is essential for shaping future policies and ensuring the sustainable development of banking platforms.

Keywords: Banking platforms; Paradox theory; Platform participants inclusiveness (search for similar items in EconPapers)
JEL-codes: G21 G23 G28 G34 L22 O32 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:72:y:2024:i:pb:s0275531924003295

DOI: 10.1016/j.ribaf.2024.102536

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