The Necessity of Open Banking to Face Neobanks in Morocco: Empirical Evidence and Strategic Imperatives

La Nécessité de l'Open Banking face aux Néo-banques au Maroc: Évidence Empirique et Impératifs Stratégiques

Rachid Maghniwi () and Mustapha Oukassi
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Rachid Maghniwi: UM5 - Université mohamed 5, Rabat, LARMODAD - Research laboratory in organizational management, business law and sustainable development (LARMODAD),
Mustapha Oukassi: LARMODAD - Research laboratory in organizational management, business law and sustainable development (LARMODAD),

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Abstract: The Moroccan banking sector is undergoing a profound structural transformation driven by the convergence of fintech disruption, neobank emergence, and regulatory modernisation. This paper investigates the extent to which Open Banking constitutes a strategic and operational imperative for Moroccan incumbent banks seeking to retain market relevance in an environment characterised by intensifying digital competition. Drawing on a sequential explanatory mixed-methods design, the study combines a quantitative survey of 500 retail banking clients across five major Moroccan cities with 25 semi-structured expert interviews conducted with bank executives, regulatory officials, and fintech entrepreneurs. Partial Least Squares Structural Equation Modelling (PLS-SEM) grounded in the UTAUT2 framework quantifies adoption drivers, while thematic content analysis triangulates expert perspectives. Findings reveal that 67.4% of surveyed clients used at least one neobank or fintech payment service in the previous twelve months, compared to just 18.6% in 2021. Client satisfaction with neobank services averages 4.1/5.0, significantly exceeding satisfaction with incumbent banks (3.2/5.0). Three significant predictors of Open Banking adoption are identified: Performance Expectancy (β = 0.42; p < 0.001), Hedonic Motivation (β = 0.31; p < 0.01), and Perceived Regulatory Trust (β = 0.28; p < 0.05). Open Banking emerges not as a technological option but as a structural response to the competitive asymmetry created by neobanks. The paper proposes an Open Banking Maturity Model (OBMM) adapted to the Moroccan regulatory context

Keywords: Open Banking; Néo-banques; Fintech; Maroc; Numérisation bancaire; API bancaire; Adoption client (search for similar items in EconPapers)
Date: 2026-04-24
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Published in International Journal of Accounting, Finance, Auditing, Management and Economics, 2026, ⟨10.5281/zenodo.19666742⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05638599

DOI: 10.5281/zenodo.19666742

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