Open banking: A bibliometric analysis-driven definition

Gorka Koldobika Briones de Araluze and Natalia Cassinello Plaza

PLOS ONE, 2022, vol. 17, issue 10, 1-19

Abstract: “Open banking,” as a concept, was initially developed by a UK regulation to foster competition in banking through sharing client data (with their consent) amongst competitors. Today, it is regulated in several most relevant banking jurisdictions. Despite its growing relevance, consensus about the definition of open banking is lacking. This study examines 282 articles on open banking using bibliometric clustering techniques. Moreover, within the 282 articles and applying discourse analysis, we analyze 47 idiosyncratic definitions of open banking to test an integral framework that supports our proposed definition of the concept. Our study contributes to the literature by providing a generalized multidisciplinary definition of open banking. It identifies four main drivers behind the concept: business model change, client data sharing, incorporation of technological companies (fintechs and others), and regulation. These four elements, which should be considered in new regulations in the globalized banking sector, foresee open banking as a critical enabler of a new strategic dynamic in banking.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0275496

DOI: 10.1371/journal.pone.0275496

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