EconPapers    
Economics at your fingertips  
 

Banks and Fintechs: How to Develop a Digital Open Banking Approach for the Bank’s Future

Anna Omarini ()

International Business Research, 2018, vol. 11, issue 9, 23-36

Abstract: Mutated market conditions, the advent of new players and digital technologies, and a significant regulatory push, are profoundly changing the banking industry. Banking business models may shift significantly from a pipeline, vertical, paradigm, to open banking models where modularity can be an opportunity for banks. Not only are the abovementioned factors representing a threat to the traditional model, but also they are spurring significant new opportunities to pursue new revenue streams. Those opportunities are exploited through new banking paradigms that entail higher levels of openness towards third parties and a crescent number of modular services bundled together. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. Value is created in platforms through economies of scope in production and innovation. This paper has explored the evolution of Fintech and Techfin in the market and the emergence of platform models in banking. It has investigated the evolution of that concept, also introducing an interesting banking case (BBVA), which gives several insights on the choices made toward a Banking-as-a-Platform model within the context of Fintech and Open Banking.

Keywords: digital transformation; FinTech; Techfin; retail banking; open banking; business model; open innovation; platform (search for similar items in EconPapers)
JEL-codes: G20 G21 G28 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://www.ccsenet.org/journal/index.php/ibr/article/download/76769/42646 (application/pdf)
http://www.ccsenet.org/journal/index.php/ibr/article/view/76769 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibn:ibrjnl:v:11:y:2018:i:9:p:23-36

Access Statistics for this article

More articles in International Business Research from Canadian Center of Science and Education Contact information at EDIRC.
Bibliographic data for series maintained by Canadian Center of Science and Education ().

 
Page updated 2022-08-12
Handle: RePEc:ibn:ibrjnl:v:11:y:2018:i:9:p:23-36